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Honeywell’s (NASDAQ:HON) forecasts as many as 8,500 new business jet deliveries valued at $278B over the next decade, consistent with its rolling 10-year projection provided last year, the company said Sunday in its annual Global Business Aviation Outlook.
New users in business aviation have increased demand by 500 new aircraft and 6% more flights over the next decade, and new business jet deliveries in 2024 expected to be 10% higher than in 2023, the company projected.
Honeywell (HON) foresees large, long-range and ultra-long-range aircraft classes accounting for ~69% of all expenditures of new business jets in the next five years.
The company also said 60% of surveyed operators are implementing at least one method to reduce their carbon footprint, 10 percentage points more than a year ago.
“Our industry is on the upswing,” according to Heath Patrick, president of Americas aftermarket for Honeywell (HON) Aerospace. “Operators are showing confidence with plans to expand their fleets at a faster rate than any time in the previous decade.”
