Bombardier trimmed its long-term forecast for sales in the commercial aircraft industry on Tuesday, citing signals of slower global economic growth and sharp increases in oil prices.
In its annual 20-year forecast for the global business and commercial aircraft markets, Bombardier said it expects industry deliveries of 20- to 149-seat commercial aircraft to dip by 2.3 percent, or 300 units, from last year's forecast to 12,800 units between 2012 and 2031.
Montreal-based Bombardier did not change its 20-year forecast for the market for business jets from last year's forecast of 24,000 deliveries.
Market confidence in the business jet market is still not "fully restored" but should return to "sustained growth" starting in 2013, with large jets showing the fastest growth, Bombardier said.
"As the business and commercial aircraft markets continue to recover from the industry downturn, indicators are mixed, yet trending positively," Bombardier said in a statement.
Mairead Lavery, Bombardier Aerospace's vice president of strategy and business development, said new aircraft orders are supported by continued demand from developed markets and growth in emerging markets, which are forecast to play an increasingly important role in global aviation sales.
Commercial jet deliveries are expected to generate more than USD$630 billion in industry sales revenue between 2012 and 2031, Bombardier said.
Business jet deliveries should produce industry sales revenue of about USD$648 billion in the same period, the plane maker said.