Prospects of Russian industrial development on the global market (the case of business aviation industry)
The global macroeconomic environment continues to be uncertain with the U.S. economy treading fastidiously on its recovery path, the Euro-zone debt crisis refusing to abate, and the most emerging markets at-tempting to stoke up economic growth momentum with a slight shift in overarching focus from merely combating inflation to adoption of a more balanced approach. The significance of Business Aviation as an important part of national economies and a tool for the progress of entrepreneurship that provides an efficient management of large and medium-sized businesses was recognized by international business community long ago. Under the influence of crisis this sector has been treading cautiously on the recovery path over the recent years. Market participants, including Russian players, in the meanwhile, are working significantly towards building capacity for a potential demand. The paper is devoted to the role of BA as a part of the civil aviation. It deals with the economic recession that had a strong negative impact on the demand for business jets. Pronounced decrease in demand occurred in North America and Western Europe – the two largest geographic markets for business jets – and its disproportional affect on the market of light and medium-sized jets are discussed. Finally, the study concerns opportunities for Russian BA on the Global Market.
Volume (Year): 6 (2013)
Issue (Month): 2 (December)
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