Voorbeeld: Document

current market drivers Bombardier Business Aircraft | Market Forecast 2011-2030 12 Basically, in most advanced economies, output is still far below potential, while in emerging market economies the crisis left no lasting wounds. The significant economic downturn of 2008- 2009 resulted in a major short-term reduction in demand for business jets. As expected, this demand, as measured by orders, is increasing with the resumption of global economic growth. This trend is expected to translate into a sustained recovery in demand for business jets. The sound fundamentals of the business jet industry are expected to remain unchanged. Wealth Creation Worldwide demand for business jets is highly correlated with wealth creation. The Morgan Stanley Capital International (MSCI) Index is an aggregate stock market index, based on representative securities listed in major financial exchanges around the world. The MSCI World Index is a good estimate of wealth creation. From 2002 to 2007, the MSCI World Index literally doubled, mainly driven by growing prices for oil, natural resources, and commodities. Most of these gains were lost in a single year, as, between 2007 and 2008, the MSCI World Index fell 42%. Business aircraft orders stalled at the same time the MSCI World Index plummeted. North America Europe Latin America Russia India China Middle East Asia Pacific Africa 105 122 384 188 287 185 327 144 223 113 144 157 628 311 523 232 452 199 272 151 100 176 100 245 100 668 100 567 100 100 699 367 100 605 100 250 100 593 World 100 201 MSCI Index Evolution By Region 2002 = 100, Calendar years, 2002-2011 Sources: MSCI World Index from Morgan Stanley. 2002 (base) 2007 (at peak) April 2009 April 2011 MSCI World Index Calendar years, 2001-2010 Sources: MSCI World Index from Morgan Stanley. 2,000 1,500 1,000 500 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010