According to a report from equity analysts at Baird, new business jet deliveries this year are expected to increase 10 percent, to 578 units, and another 15 percent, to more than 660 units, next year. Over the next four years, business jet deliveries are projected to rise at an 8 percent compound annual growth rate, the report said, with light and midsize jets accounting for most of this increase.

This year, Baird analysts are forecasting 208 light jet deliveries, a 16 percent increase from a year ago that they said will be led by “a significant pickup by Textron Aviation.” In the midsize category, deliveries are expected to total 186, a 12 percent increase from 2020 bolstered by the Citation Latitude and Longitude, as well as the Bombardier Challenger 350. Large-cabin aircraft deliveries are anticipated to climb just 3 percent year-over-year, to 187 units.

However, Baird's analysts expect growth in the large-cabin category to accelerate in 2022 and 2023 with the service entries of the Gulfstream G700 and Dassault Falcon 6X, as well as ramped-up deliveries of the Bombardier Global 7500.

Baird analysts noted a low used business jet inventory, higher aircraft utilization, and record order activity in a “healthy pricing environment” as the drivers behind increased deliveries.