We’ve seen plenty of news reports over the past few months on the resiliency of the business jet market, even in the face of a widespread economic slowdown. But according to an article in The International Herald Tribune, aircraft manufacturers at the Farnborough International Airshow are saying that one of their most reliable markets is showing signs of weakening.

The U.S. domestic market, which had for years accounted for the majority of business jet sales, dipped below 50 percent of worldwide orders for the first time last year. Seventy percent of all business jet orders came from outside the U.S. On one hand, this shift could merely reflect the vast amount of wealth being produced in the Middle East, Asia and Russia. But it may also be a sign that demand in the U.S. is slackening. Certainly the tightening of credit markets in the U.S. has made it more difficult to finance the purchase of a new plane. Interestingly enough, high fuel prices are not believed to be a significant factor in reduced demand.

It would seem that the press has produced some contradictory reports about the status of the business jet market. How does this latest news fit with all the reports of record sales, manufacturers with orders booked solid well into the next decade, or billionaires paying big premiums for a chance to jump the line?

Could a wave of cancellations upend the business jet market? Leave a comment and let us know your forecast for the industry.