They probably have the polar opposite of a Christian Dries
They're super vanilla. I can understand (albeit to my chagrin) why they bailed on piston. But killing the Citation X? Even if the M2 sold more than the Mustang there was a role for light light jet. They've got the most vanilla line of boring corporate jets now.. all with that stupid basic design. When Tantalum gets rich on crypto (yeah right!) he's buying a damn Falcon 7X! Textron is utterly boring.
People just haven’t spent that money on airplanes, they’ve spent it on other stuff
Absolutely! All those things and toys add up. Guys out there with a $60K salary put that much (or more!) into their trucks
“In 1970 a Cessna 172 was 1.3 times the average salary in the U.S. and a Bonanza was 5 times the average. Today it is 6 times the average salary for a 172 and 14 times the average salary for a Bonanza. Anyone else wonder how [the manufacturers] are staying in business?”
It's sort of a chicken or egg thing though, it's expensive because volume is low. Volume is low because it's expensive. There's also a massive barrier to entry, if not objectively (go to the doctor and competently fly a plane for 40 hrs) then subjectively people assume that it's hard to become a pilot. It really isn't. But there's a massive psychological barrier to entry for people with aviation (it's hard, it's scary, it's dangerous, etc.). Maybe in 20-30 years as the whole drone auto air taxi thing catches on people will normalize to small planes.
**But as a note, this whole 1970 vs today plane cost stat always bugs me.. for comparison
Tuition
-in 1976 the average cost of tuition was about $2,600 per year (for the fanciest).. average salary $10K
-in 2006 this was $19,000 per year.. average salary $34K
--So the salary went up by about 200% but the cost of education went up 630%
--we also have about 50% of eligible people in college today vs about 30 percent in 1970.. so the cost way outpaced salary and yet more attend now (for arguably less value.. hell I'd argue unless you're going for a specific trade then a basic "bachelor in arts" or whatever is useless)
Housing went from $17K in 1970 to $281K in 2020.. a gain of 1,553%
A car went from $3,500 in 1970 to $38K in 2020, about 985% increase
People afford all these things, and in fact people BUY more cars and crap than they did before and live in bigger and more expensive houses relative to their income. Every couple has at least two cars now.. people stretch their budget to get their "dream house" .. people load up on student debt to go to school.. people on a $120K salary by a $100K tesla and pay $900/mo for it
If flying was cool, sexy, instagram post worthy, and the whole perception was changed you'd easily see that happening too. If Cirrus sold 40,000 planes per year I'm sure they'd have clever leasing and financing programs, on top of the already enticing programs they have (like free training)
And the 172 and Bonanza are bad examples anyway. The 172 only goes to flight school, it's a niche and captive audience, Cessna can charge whatever they want and get away with not streamlining a production line that's been the same for 60 years. The Bonanza.. let's be honest.. no one the new one. They took what was a good plane, killed it's useful load by putting a bunch of crap in it, and threw a Garmin avionics package. Why would anyone spend a million dollars on a new Bonanza when they can get a 30 year old plane that's better in nearly every objective category and be a fraction of the cost.