2025年8月航空服务业更新

August 2025 In This Report General Activity, Business Jet ActivityRise in Q2 Airbus and Embraer Drive OrderActivity at 2025 Paris Airshow Airlines Navigate Rising Costs DespiteRevenue Growth INVESTMENT BANKINGAviation Services Industry Update Aviation Services Observations and Key Trends Robust Aircraft Demand at2025 Paris Air Show andEvolving Airline Outlook;Policy and TechnologyAdvances Drive U.S. AviationCompetitiveness such as LOT Polish Airlines, placing its firstAirbus order, and ANA Holdings highlightedsustained interest in fleet modernizationand long-haul expansion strategies.3 departing passenger averaging $7.20 globally.Continued capital investment in sustainability,digitization, and infrastructure will be criticalto supporting long-term stability.7 Embraer also made headlines, securinga firm order from SkyWest for 60 E175jets, bolstering the Brazilian OEM’s strongmomentum in the regional jet market.4Embraer’s backlog has benefited from risingU.S. regional carrier demand, particularly forscope-compliant aircraft. In the News •NBAA Supports Aviation Provisions inBudget BillThe National Business Aviation Association (NBAA) welcomed severalNBAA-supported aviation measuresincluded in July’s Congressional budgetbill, aimed at enhancing growth,safety, and sustainability. Among thekey provisions was a $12.5 billiondown payment for modernizing ATCinfrastructure and controller staffing,permanent full expensing for factory-newand pre-owned aircraft purchases, andan extension of clean-fuel tax credits.8 The strength in OEM order books reflectsa robust outlook for the commercialaerospace sector heading into the year’sfinal months. With backlogs stretching outbeyond the decade, the industry’s emphasishas shifted from order intake to productionexecution. General aviation activity grew in the secondquarter of 2025, demonstrating a notableincrease of 17% compared to the priorquarter. Business jet activity also rose, upapproximately 2% year-over-year.1 There is continued strength in businessaviation, with Argus International reportingglobal business aircraft activity up 4.8%year-over-year in June. North America ledthe trend, up 3.7%, while Europe rose 2.4%and the rest of the world surged 13.4%.In North America, all categories showedyear-over-year growth, including light jets(+5.7%), large-cabin jets (+3.5%), andturboprops (+2.9%). Fractional activityremained strong, with large-cabin fractionalflights up nearly 28%.2 Airlines Project Modest Profit Growthin 2025 •GE Aerospace Rolls First GE9XEngines Off the Production LineGE Aerospace’s new GE9X engine hasbegun rolling off the production line aheadof its planned entry into service next yearon Boeing’s 777X widebody fleet.9 According to IATA’s June 2025 outlook,global airlines are projected to generate$979 billion in revenue in 2025. Netprofits are forecast to reach $36.0 billion,representing a modest increase from$32.4 billion in 2024, with marginsimproving slightly to 3.7%, from 3.4% theprevious year.5 •White House Moves to Lift SupersonicOverland Flight BanThe Trump administration has directed the FAA to take regulatory action to liftthe decades-long ban on supersoniccommercial flight over land. The directiveis part of a broader policy aimed atre-establishing U.S. leadership in high-speed aviation and directs agencies tostreamline approvals for civil supersonicaircraft development. The FAA is expectedto propose new noise standards androuting guidelines by early 2026.10 While passenger demand is projected toreach 4.99 billion travelers for the first time,the industry’s profitability is still challengedby high operating costs and limited pricingpower. Total expenses are expected to rise to$913 billion, driven by inflation, labor costs,and supply chain disruptions.6 Airbus and Embraer Capture Headlinesat the 2025 Paris Airshow The 2025 Paris Airshow brought renewedconfidence in global aircraft demand,with Airbus and Embraer emerging asmajor winners on the commercial side.Airbus booked firm orders for 148 aircraft,including a significant volume of bothnarrowbody A320neo-family and widebodyA350 jets. Notably, orders from customers IATA noted that the airline sector continuesto face structural financial pressures despitepost-pandemic recovery, with net profit per Business JetOperations andCommercial FlightActivity Business Jetand CommercialAircraft Orders andDeliveries Public Company 1-Year Stock Performance (Indexed Market Capitalization for the Period August 2024–August 2025) Public CompanyPerformance Public Company 5-Year Stock Performance (Indexed Market Capitalization for the Period August 2020–August 2025) Aerospace Supply Chain & Aftermarket:ENXTPA:SAF, NasdaqCM:ASLE, NasdaqGS:ATRO,NasdaqGS:VSEC, NasdaqGS:WWD, NYSE:AIR, NYSE:DCO, NYSE:HXL, NYSE:LOAR, NYSE:MOG.A,NYSE:RBC, NYSE:SPR, NYSE:TDG, NYSE:WCC, TSX:CAE, TSX:MAL, XTRA:MTX Premier, Global Boutique Globally integrated advisory capabilities, deep sector experience, and unmatc