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:
- The business aviation industry is making a strong recovery from the pandemic, with Honeywell's latest outlook forecasting 7,400 new jet deliveries totaling $238 billion over the next decade.
- This growth is driven by a significant rebound in flight hours (up 50% in 2021 over 2020), high operator confidence with 90% not delaying purchase plans, and strong demand for both new and used jets.
- While North America and Asia-Pacific show resilience in acquisition plans, other regions like Europe and the Middle East/Africa exhibit less immediate optimism.
- The industry is also looking ahead to future innovations, including eVTOL aircraft and advanced, lightweight avionics systems, which are seen as critical for the evolution of air mobility.
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