Gulfstream has announced plans to make a larger version of its flagship G650 in an attempt to reclaim the title of the world’s largest private jet, which was taken by Bombardier’s Global 7500 last year. The new G700, set to debut in 2022, is expected to have the largest cabin in the private-jet industry and a range of 7,500 nautical miles. The first 10 planes will be purchased by Qatar Airways for its charter service, Qatar Executive. However, the luxury-jet market is experiencing buyer uncertainty due to a global economic slowdown and geopolitical risks such as the US-China trade war and Brexit.
Gulfstream’s new G700 model, priced at $76 million, is a bid to win over the world’s richest flyers with a bigger cabin and an enhanced range, but the luxury-jet market is currently experiencing headwinds. Gulfstream faces challenges from Bombardier’s Global 7500, which has a range of 7,700 nautical miles and four distinct seating zones, and a slowdown in orders due to economic and geopolitical uncertainties. Additionally, the private-jet market has been affected by the COVID-19 pandemic, which has led to a decrease in demand for air travel. Despite these challenges, Gulfstream’s G700 aims to impress customers with its debut in 2022, targeting an industry that is predicted to recover and grow over the long term.
Gulfstream is hoping to reclaim its position as the builder of the world’s largest private jet with the announcement of its new G700 model. The jet offers a larger cabin and increased range, with the potential to attract wealthy flyers. However, the luxury-jet market faces challenges such as economic and geopolitical uncertainties, as well as the COVID-19 pandemic, which has decreased demand for air travel. Despite this, Gulfstream is looking to compete with the Bombardier Global 7500 and other contenders in the market and aims to make a splash with the debut of the G700 in 2022.