| The Gulfstream G550 is a business jet aircraft produced by General Dynamics' Gulfstream Aerospace unit in Savannah, Georgia, US. The certification designation is GV-SP. A version with reduced fuel capacity was marketed as the G500. Gulfstream ceased production of the G550 in July 2021.
The first production G550 (GV-SP) flew on 18 July 2002 and the aircraft received its FAA type certificate on August 14, 2003.[2][3] In 2014, Gulfstream looked at a re-engine with the Rolls-Royce Pearl BR700 development announced in May 2018 for the new Global Express 5500 and 6500 variants but preferred the BR725-powered, 7,500 nmi G650.[4] The 500th Gulfstream G550 aircraft was delivered in May 2015.[5]
Deliveries went from 50 aircraft in 2011 to 19 in 2016 and with 40 units for sale in a fleet of 540. Valuations of the G550 are falling: a 10-year-old G550 valued $28 million a year before is worth $18-$20 million in January 2017, while a two-year-old went from $40 to $35 million.[6] In May 2017, early 2003 G550s were valued at $14 million against more than $45 million for newly purchased aircraft, flying an average of 425 hours per year.[7] In December 2018, a 2012-2013 G550 was valued $28-31 million, and cost $7,135 per hour for 400 hours a year.[8]
As it was replaced by the Gulfstream G600 by October 2019, the G550 was kept in limited production for long-term special missions applications and government orders.[9]
The final commercially available G550 was delivered in June 2021 after more than 600 of the aircraft were produced.[10][11]
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