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 valued at $248 billion from 2020-2029, representing a 1% decrease in value from the previous year, with North America driving 60% of the demand.
- Globally, short-term purchase plans (next two years) are up to 35%, showing a strong preference for large-cabin jets (42% of planned airframes, 71% of total value), while interest in used aircraft, particularly newer models, accounts for 32% of predicted fleet replacements.
- Regional trends indicate that Asia Pacific has the highest short-term buying intent, whereas Europe is experiencing a significant softening in activity and fleet replacement rates, largely influenced by economic slowdowns in key countries like Germany and France.
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