The military transport market underwent a major change in 2003. For decades, European countries have failed to spend more than token funds on dedicated military lift. But in May, Europe's Occar (Organisation Conjoint de Cooperation en matiere d'Armement) arms agency signed the firm procurement contract launching production of the Airbus Military Co.'s A400M.

After two years of depression in the business jet market, it's natural to begin scanning the horizon for change. Unfortunately, there are few signs of a return to prosperity for what had been the best aviation growth sector in decades. The worst news concerns used aircraft availability and pricing. Reports show just over 2,000 turbine-powered business aircraft are on the market, out of a total fleet of about 13,300. Pricing also remains soft, with many airplanes selling at an average 20% less than their 2000 peaks.

The Air Force's consistent preference for tactical combat aircraft continues to weigh against the entire concept of the manned strategic bomber. New bomber development programs are nowhere in sight, and even the existing fleet is under budgetary pressure. Nevertheless, the U.S. bomber fleet's continuing strong performance in recent overseas operations will go a long way toward strengthening the case for maintaining this capability.