SINGAPORE, February 14, 2012 — Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, said today at the Singapore Airshow the company anticipates accelerating demand for light and mid-size business jets across the Asia-Pacific region in the next decade.
Speaking at the show, Trevor Esling, vice president, Sales for EMAA (Europe, Middle East, Africa & Asia), said: “The Asia-Pacific region already accounts for 10% of Cessna’s business jet sales and we anticipate demand increasing further in the medium to long term. The region’s economic resilience during the global financial crisis, rising national prosperity and Chinese airspace liberalization make it likely that the business aviation market will mature at quite a rapid pace. Cessna therefore expects demand for light and mid-size aircraft to rise accordingly.”
In the past 12 months Cessna has undertaken various measures to strengthen its presence in the region. In China, Cessna’s dedicated Citation sales team has increased to nine members, reflecting the company’s increased focus on the commercial market and determination to build on success already achieved in the governmental sector. Cessna has also based a dedicated field service manager and is expected to complete a joint service facility, with sister-company Bell Helicopter, in the second quarter of this year in Singapore.
Esling continued: “All indications are that the Chinese economy will grow by more than 8% this year alone, while forecasts for the economies of Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam are similarly positive. These forecasts are extremely encouraging for aviation in general, with China expected to become one of the top 10 countries for business jet ownership by 2025.”