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APPENDIX II: PRELIMINARY AIRPORT ASSESSMENT <br /> APPENDIX <br /> <br />Airport Strategic Business Plan, 07/26/2021 60 <br />Figure 11: General Aviation Aircraft Deliveries  <br /> <br /> <br />This significant increase was attributed to several factors, as follows: <br /> The passage of the General Aviation Revitalization Act (GARA) in 1994 that limited <br />the liability of aircraft and aircraft parts manufacturers to 18 years <br /> The proliferation of fractional aircraft ownership programs <br /> A strong economy during the late 1990s to the mid-2000s (including low interest rates) <br /> Entrance by new aircraft manufacturing companies <br /> Introduction of new technologies (e.g., composite materials and glass cockpits). <br />Subsequently, annual General Aviation new aircraft deliveries decreased sharply from <br />3,279 in 2007 to 1,334 in 2010 due to the economic recession. Over the last 5 years, <br />annual deliveries increased 11.2% to 1,771 or a compounded annual increase of 1.2%. <br />