In a revision of its annual forecast presented shortly after the September 11th attacks, Honeywell says that it foresees a “modest decline” of seven to eight percent in bizjet deliveries in 2002 when compared to 2001. Deliveries are expected to increase again in 2003, rising to the record level of deliveries in 2001.
In the new forecast, Honeywell analysts stress that despite the predicted slowdown, order backlogs remain at pre-September 11th levels, with more than 2,700 turbine aircraft on order, a remarkable level of activity by any measure. The forecast’s authors predict sales of 8,400 bizjets over the next 10 years, a market valued at $130 billion.
