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NBAA-BACE

Honeywell forecasts 7,600 new bizjet deiveries over next decade valued at $248bn

28th annual Global Business Aviation Outlook projects 2020 deliveries to be higher than 2019 as new models enter service

 

 

The business jet industry is expected to see strong growth in the short to medium term, supported by several new airplane models coming to the market, according to Honeywell’s 28th annual Global Business Aviation Outlook.

Released on the eve of NBBA-BACE, the Global Business Aviation Outlook forecasts up to 7,600 new business jet deliveries worth $248bn from 2020 to 2029, down 1 to 2 percentage points from the 2018 10-year forecast.

“Production ramp up on many new business jet platforms are expected to lead to a 7% increase in deliveries in 2020, following a strong projected growth in 2019 over 2018 aircraft deliveries,” said Heath Patrick, president, Americas Aftermarket, Honeywell Aerospace. “We are confident that these new and innovative aircraft models will support solid growth in the short term and have a continuing impact on new business jet purchases in the midterm and long term.”

Key findings in the 2019 Honeywell global outlook include:

Breakdown by Region

North America

Compared with last year, new aircraft acquisition plans in North America are slightly lower.

Europe

Operators are facing a slow economic growth environment and the uncertain effects of Brexit, and new jet purchase plans decreased in this year’s survey.

Latin America

Purchase plans are stable in the region and are lower by only 1 percentage point when compared with last year’s results.

Asia Pacific

Despite geopolitical and commercial tensions, purchase plans are higher in the region, up by 3 percentage points from last year.

Middle East and Africa

Lower purchase plans were reported, impacted by political tensions and ongoing conflicts in the region.

Flight Activity and Used Jet Market Dynamics

The pace of flight activity in the past year has remained stable, with survey respondents in all regions except Europe reporting stable utilization in 2019 compared with 2018. In Europe, operators indicated a lower utilization this year when compared with 2018.

With respect to the used jet market:

Making an Impact on Business Decisions

The Global Business Aviation Outlook reflects current operator concerns, but also identifies longer-cycle trends that Honeywell uses in its own product decision process. The survey has helped identify opportunities for investments in flight-efficiency upgrades, expanded propulsion offerings, innovative safety products, services, upgrades, and enhanced aircraft connectivity offerings. The survey also contributes to Honeywell’s business pursuit strategy and helps position the company consistently on high-value platforms in growth sectors.

Aviation Outlook Infographic

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Honeywell

 

BlueSky Business Aviation News | 24th October 2019 | Issue #530

 

 

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