(Adds details on regional forecasts, quotes)
By Asher Levine
SAO PAULO Aug 11 Brazilian planemaker Embraer
SA on Monday trimmed its global sales forecast over
the next decade but raised its outlook for executive jet sales
in North America, highlighting the importance of the U.S. market
for a business jet recovery.
Embraer cut its worldwide outlook to 9,235 aircraft sold in
the next decade, from 9,250 in last year's ten-year estimate.
The planemaker expects 4,620 business jets to be sold for a
total $120 billion in the North American market from 2015 to
2024, up from 4,530 planes in its 2014-2023 forecast.
The shift is taking place as jet buyers in emerging
economies such as Brazil, Russia, India, China and South Africa,
commonly referred to as the BRICS group, grow more weary over
the outlook for domestic economic growth.
Embraer sees 850 jets sold in Latin America over the next
ten years, down from 860 in the previous ten-year estimate,
while the Asia Pacific and China market should see 1,405 jets
sold, down from 1,530.
"We will continue to see slow growth in coming years due to
indecision over whether or not to buy new planes or replace
existing aircraft, principally in the BRICS countries," Embraer
executive aviation chief Marco Tulio Pellegrini said at a news
conference in Sao Paulo. "The recovery in the market will depend
very much on the American economy."
Still, while many U.S. corporations are seeing profits rise,
they have remained cautious about investing in new aircraft
until economic growth looks more stable, Pellegrini said.
He added that a few quarters of encouraging U.S. growth
would likely translate into higher business confidence and
stronger jet sales ahead.
(Reporting by Asher Levine; Editing by Marguerita Choy)