A survey of 100 senior executives at large US family offices that own or lease business aircraft shows that 93 per cent of them expect to upgrade to newer or better models in the next five years.
The study, commissioned by Airbus Corporate Jets – a division of – shows that 75 per cent cite a growing need to reduce operational costs as a reason for wanting to upgrade their business aircraft, followed by 73 per cent who say it is because newer, more fuel-efficient models have been launched.
The survey follows an earlier study – published here – that tracks how US family offices use private and business aviation assets for philanthropic purposes, among others. This news service has also interviewed ACJ about these studies and trends in the sector. To download a full copy of the study, see here.
ACJ’s study found that other reasons family offices cited for wanting to upgrade aircraft included the need for larger aircraft as more family members and staff are using business aviation, and the need for aircraft with a greater range.
Of those family offices surveyed that charter business aircraft, 87 per cent say they want to charter newer, more efficient jets to help reduce the impact of their flights on the environment.
ACJ notes that sustainable aviation fuel (SAF) has a price premium compared with standard jet fuel, but 97 per cent of US family offices interviewed say they would be prepared to increase their travel budget for business aviation to enable their flights to use SAF more.
Slightly more than two-thirds (68 per cent) say they would be prepared to increase their budget by over 25 per cent to ensure that they could make more use of SAF or newer, more fuel-efficient aircraft, and 31 per cent say they would be prepared to increase it by at least 50 per cent.
When asked why they expect their family office to make greater use of business aviation: 80 per cent say it is because they are focusing more on the wellbeing of family members and staff; 56 per cent cite more advanced technology onboard the aircraft; and 44 per cent who say they want to improve the sustainability record of the business aviation sector.
Business aircraft
ACJ offers a range of large business aircraft. The recently-launched ACJ TwoTwenty is part of a new market segment, called “The Xtra Large Bizjet.”
Airbus says the ACJ TwoTwenty offers twice the cabin real estate compared with similarly priced ULR business jets with strong fuel efficiency and reliability. It occupies the same parking footprint as competitive ULR jets and can take off from the same airports, but the ACJ TwoTwenty operating costs are one-third less, the manufacturer says. With a range of up to 5,650 nm (more than 12 flight hours), the ACJ TwoTwenty can meet the requirements of 99.9 per cent of all US departures (source: Airbus Corporate Jets analysis of WingX data, January 2024). This connects city pairs such as Los Angeles to London, Miami to Buenos Aires, and New York to Istanbul. ACJ says that more than 200 Airbus jets are in service around the world.
A view from the cockpit
Source: ACJ