As EBACE 2024 commences in Geneva, ALTEA delves into the influential European trends shaping the business aviation landscape. Owners, operators, FBOs, and aftermarket providers navigate these currents, adapting to the evolving dynamics of the industry. Amidst the consolidation of global service providers, fleet dynamics are undergoing a notable shift. Aging aircraft benefit from upgrades, seamlessly integrating with modern and technologically advanced models. Through meticulous refurbishment programs, the industry maintains aircraft values while embracing eco-friendly aviation solutions, highlighted by ALTEA. “These advancements are fostering a modern and efficient environment where speed, sustainability, service, safety, and connectivity converge to deliver the flying experience that today’s HNWIs, governments, public entities, and businesses demand,” says Andrew Butler, Partner at ALTEA. Reflecting upon the past year, the business aviation sector has demonstrated resilience and stability within a complex global landscape. WINGX, an aviation data expert, reports a total of 740,152 business aviation flights across Europe in 2023. Despite a slowdown towards the year’s end, evidence suggests the market is stabilizing and returning to pre-COVID levels. Paris Le Bourget emerges as Europe’s fastest-growing airport, followed closely by London (Farnborough and Luton) and Switzerland (Geneva Cointrin and Zurich). “The groundswell of public opinion is driving the emergence of ‘greener’ travel in business aviation,” Butler continues. “ALTEA observes that environmental awareness now guides the choices of businesses, governments, and individuals alike, impacting OEMs as they design and build aircraft for the future. Adapting to these challenges is essential for the industry’s sustainable growth and success.” Butler further notes the recent availability of Sustainable Aviation Fuel (SAF) for all flights departing from Le Bourget, signaling progress towards eco-friendly practices. While electric and hydrogen-powered aircraft hold promise for more sustainable air transport, they remain in development. Advanced Air Mobility (AAM) continues to evolve, particularly the potential of eVTOL (electric vertical take-off and landing) aircraft to revolutionize autonomous and sustainable transport upon launch. Within the cabin, trends indicate a growing demand for enhanced entertainment experiences. The private aviation sector is reshaping travel by offering passengers integrated technologies, faster internet connectivity, and premium ambient sound systems, all accessible via smartphones. “Customer tastes and preferences diverge globally, with some desiring overt opulence and others seeking a more pared-back ambience,” says Butler. “At ALTEA, we detect a growing demand for highly specified new aircraft, but extended delivery times can prompt customers to consider alternative solutions. As a result, we encourage existing owners and those seeking pre-owned aircraft to contemplate a transformative re-fit on an available platform. This approach can deliver fast, cost-effective, personalized, and highly satisfactory interim solutions while awaiting the delivery of a new aircraft.” ALTEA’s expertise spans asset management, procurement, sales, financial solutions, and design, providing innovative solutions for clients. Focusing on business jets, regional aircraft, and helicopters, the firm’s expert team leverages deep insights to achieve exceptional outcomes. ALTEA’s clientele includes financial institutions, operators, aircraft manufacturers, governments, and private individuals who value their unique blend of specialized knowledge, integrity, and creativity in navigating intricate aircraft projects.
European Business Aviation Industry Trends: Reshaping the Landscape
