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Textron Aviation leads global private jet sales in 2024

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Textron Aviation leads global private jet sales in 2024
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Ron Draper President and Chief Executive Officer, Textron Aviation | Textron Aviation

Textron Aviation emerged as the leading private jet seller in 2024, according to Private Jet Card Comparisons, with sales totaling 151 business jets. The company continues to develop aircraft for historic brands such as Cessna and Beechcraft while still supporting the Hawker fleet.

Textron Aviation maintains its position as a market leader in General Aviation. On August 13, 1927, a Cessna all-purpose aircraft took off, revolutionizing aviation with Clyde Cessna’s cantilever design. Cessna, originally a farmer and car sales representative, founded the company and invented early models.

Beechcraft was founded by Walter H. Beech and his wife Olive Ann Beech. Despite initial skepticism from peers, they focused on their ambition to build "the finest aircraft in the world." Their first aircraft, the BEECHCRAFT Model 17 biplane, saw significant sales for both civil and military use. The Beechcraft BONANZA became the longest continually developed aircraft globally, with over 18,000 units manufactured since it started production in 1947.

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Since 2020, Textron Aviation has launched several iterations of the Cessna Citation series including the second and third-generation Citation M2, Citation CJ3+, Citation CJ4 Gen2, and introduced the Citation Ascend. This latest model features Garmin G5000 avionics with autothrottles and Pratt & Whitney Canada PW545D engines.

Beechcraft's updates include an upgraded Beechcraft King Air 360 turboprop and introducing the Beechcraft Denali. The Denali is equipped with a GE Catalyst engine that reduces fuel burn by up to 18% while increasing power output.

A summary of Textron Aviation's financial results for 2024 reveals:

- Q1: Shares worth $1.03; total revenue $1.2 billion; delivered 36 business

jets and 20 commercial turboprops.

- Q2: Market share worth $1.35; revenue rose to $1.5 billion; sold

eAviation generated $9 million but incurred an $18 million loss.

- Q3: Strike resulted in a $50 million loss; maintained $1.4 billion revenue;

delivered

- Q4: Revenue declined due to labor strike; total annual revenue reached $14.7

billion.

Cessna's notable deliveries include:

- Cessna Citation Longitude - Designed for eight to twelve passengers featuring

advanced cabin systems.

- Cessna SkyCourier (Passenger) - Twin-engine turboprop designed for cargo or

business transport accommodating up to nineteen passengers.

Textron Aviation also delivered its first Cessna SkyCourier to Canada-Based Air Bravo Corporation.

The latest addition from Beechcraft is the King Air family''s best-selling twin-turboprop variants--the

Customer demand post-pandemic has driven astronomical growth in private jet industry sales due primarily to increased wealth levels alongside pandemic- related concerns about commercial travel safety protocols among other factors

In conclusion:

- Textron Aviation led manufacturers with delivering

There are strong market dynamics within this sector given that pre-COVID few


Organizations Included in this History
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