The Federal Aviation Administration (FAA) has granted certification to General Dynamics Corp’s Gulfstream G700 business jet, bringing competition to the luxury jet market. Gulfstream originally expected certification for the large-cabin jet in late 2023 and planned to deliver 19 planes.
The certification process for new aircraft in the United States is under increased scrutiny following two Boeing 737 MAX flights that resulted in fatal accidents in 2018 and 2019. Gulfstream President Mark Burns predicted that the FAA would ask for more information during the G700’s certification, given past accidents, but he didn’t expect any unreasonable requests.
Gulfstream announced that the G700 will have shorter takeoff and landing distances than originally expected. The company has successfully completed a rigorous certification program with the G700, marking its most extensive effort. In September, Gulfstream announced performance improvements, including an improved range of 7,750 nautical miles and the title of Gulfstream’s fastest jet.
While there is continued buyer interest in private jets following a surge during the COVID-19 pandemic, a slowdown in global growth in 2024 and the availability of used aircraft could impact demand. Meanwhile, Boeing has been waiting for certification for its Boeing 737 MAX 7 and MAX 10 models for several years and now faces additional challenges after withdrawing a safety waiver request in January that could have accelerated MAX approval.