The business aviation industry continues its climb out from the effects of the coronavirus pandemic, according to a leading report released on Sunday.
Honeywell Forecast Shows Resilience, Optimism
Key Takeaways:
- Honeywell's 30th Global Business Aviation Outlook forecasts a robust industry rebound, projecting 7,400 new jet deliveries totaling $238 billion over the next decade.
- The optimistic outlook is driven by a significant recovery in flight hours (50% higher in 2021 than 2020) and strong operator confidence, with 90% not postponing new or used jet acquisition plans.
- Increased demand for used jets is noted, alongside the anticipated introduction of several new super midsize to ultra-long-range models to the market.
- Regionally, North America and Asia-Pacific show tempered resilience, while Europe and the Middle East/Africa express less optimism regarding future acquisitions.
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