AINonline reported that according to the Teal Group’s recently issued business aviation forecast, 13,879 aircraft worth $310.3 billion will be delivered over the next 10 years.

According to the report, Teal’s forecast calls for 6% and 8% growth in 2012 and 2013, respectively and 12% annual growth starting in 2014.

“Compared with prior market recoveries that have exhibited 15% to 17% compound annual growth rates, this is a conservative forecast,” said Teal vice president of analysis Richard Aboulafia. “Our conservatism is largely based on the likelihood of greater financial caution in the aftermath of the global credit crisis of 2008/2009.” With this growth rate, he added, “We won’t see a recovery to the 2008 peak deliveries level until 2015.”