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 worth $248 billion from 2020-2029, representing a 1% value decrease compared to the previous year.
- North America is projected to account for 60% of the demand, while global short-term purchase intentions for new jets rose to 35%, with Asia Pacific showing the highest interest.
- Large-cabin jets are expected to dominate new purchases, making up 42% of planned airframes and 71% of the total dollar value allocated.
- Used aircraft are predicted to comprise 32% of fleet replacements, with a significant increase in intent to buy younger pre-owned models, especially in North America.
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