The Federal Aviation Administration (FAA) announced on Friday the certification of General Dynamics Corp’s Gulfstream G700 business aircraft, bringing fresh competition to the luxury jet market. This news comes after a rigorous certification process that had been under increased scrutiny following the tragic crashes of two Boeing 737 MAX flights in 2018 and 2019, as well as an incident involving an Alaska Airlines MAX 9 in January.
Gulfstream President Mark Burns had foreseen the FAA requesting more information during the G700 certification, given the previous crashes, but did not expect any unreasonable demands. Despite this, Gulfstream reported that the G700 will have shorter takeoff and landing distances than originally anticipated. The company successfully completed a rigorous certification program with the G700, marking the most extensive certification effort in its history.
In September, Gulfstream announced performance improvements, including an enhanced range of 7,750 nautical miles and the title of the fastest Gulfstream jet. These improvements come at a time when there is sustained customer interest in private planes following a surge during the COVID-19 pandemic. However, slowing global growth in 2024 and the availability of pre-owned aircraft could impact demand for new private jets.
Meanwhile, Boeing has been awaiting certification for its Boeing 737 MAX 7 and MAX 10 models for several years and now faces additional challenges after withdrawing a safety exemption request in January that could have hastened approval for the MAX 7. Despite these challenges, it is clear that demand for luxury jets remains strong and companies like Gulfstream are well-positioned to meet this demand with their innovative products and rigorous certification processes.