Honeywell released its 2019 Global Business Aviation Outlook on Sunday, October 20, at the opening of the NBAA-BACE conference in Las Vegas, Nevada. The report shows 7,600 new deliveries of business jets for the period 2020 to 2029, with a total value of $248 billion. The total dollar amount reflects a drop of 1% over last year’s report. Flying spoke with Gaetan Handfield, senior manager of marketing analysis for Honeywell, before the show regarding the forecast and its implications for the next ten years.
Honeywell Biz Jet Forecast Shows Slight Drop
Key Takeaways:
- Honeywell's 2019 outlook forecasts 7,600 new business jet deliveries (2020-2029) valued at $248 billion, a 1% decrease from the previous year's report.
- North America continues to lead demand at 60%, with large-cabin jets (over $30 million) accounting for 42% of planned airframes and 71% of the total dollar value.
- Short-term purchase plans increased globally to 35% for the next two years, but a notable 32% of predicted fleet replacements are for used aircraft, with strong interest in models five years old or less.
- Overall fleet replacement/expansion activity softened to 17% (down from 20%), primarily driven by a significant decline in Europe due to regional economic slowdowns.
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