General aviation rebound may be on the way
February 10, 2011, 05:10 pm
Though some analysts have stated that general aviation will continue to feel the effects of the recession, others believe that 2011 may be a period of serious growth for the industry, according to the Aircraft Owners and Pilots Association.
The AOPA cited comments made by aviation analyst Brian Foley, who believes the worst of the aviation industry's losses are over and says his prediction will be evidenced by first quarter sales. "This is the year that general aviation's pessimism bubble will burst. We think it's time we'll start to see some rebound," Foley told the Wichita Business Journal.
Foley stated that most facets of the aviation industry will recover, including fuel sales, charter and fractional operations, maintenance providers, aircraft builders and members of other related sectors.
He also told the press that makers of smaller-cabin general aviation planes such as Cessna and Beechcraft, which received much of the brunt of the recession's effect on aviation, will likely see improvements in their aircraft sales of up to 20 percent per year over the next five years.
As GA makes a comeback, many pilots who had previously stopped flying because of related expenses may re-enter the aviation field. They could benefit from considering life insurance for pilots, which could help put aside financial provisions for their families if they are involved in a fatal accident.
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