U.S. plane manufacturer Gulfstream Monday unveiled its widely-anticipated G700 long-range jet, in a challenge to Bombardier’s flagship Global 7500 plane.
Gulfstream Aerospace, a subsidiary of General Dynamics, stated the brand new airplane would be powered by Rolls-Royce Holdings Pearl 700 engines and expects customer deliveries in 2022.
The declaration came on the eve of the National Enterprise Aviation Affiliation’s (NBAA) annual corporate plane show in Las Vegas, the most significant business jet show on the planet.
Large corporate planes that may fly farther are popular with clients and a highlight of the NBAA show, which starts on Tuesday.
Gulfstream Aerospace President Mark Burns stated the flagship G700, priced at $75 million, would be the “tallest, widest cabin in our business.”
As guests sipped wine, Burns revealed a prototype of the plane, which seats as much as 19 passengers, has a six-place dining or conference room and can fly 7,500 nautical miles at Mach 0.85.
The brand new Gulfstream airplane would compete against Bombardier’s $73 million Global 7500, which is offered out through 2021. Gulfstream secured 10 agency orders of the G700 from launch customer Qatar Executive, a subsidiary of Qatar Airways.
Flexjet came as the first North American buyer, however, Gulfstream didn’t specify an order quantity.
The NBAA show happens against a backdrop of slowing global financial progress, trade spats between the U.S. and China, and Brexit uncertainties, factors that trade specialists see softening demand for corporate jets in the subsequent two years.
The Praetor order comes as Embraer is pursuing a broader strategy to develop its executive-jet unit as it cedes control of its business aviation division to U.S. plane manufacturer Boeing.