The annual Global Business Aviation Outlook produced by Honeywell Aerospace makes encouraging reading for OEMs. According to its latest forecast, the bizav market could see up to 8,500 new jet deliveries over the next ten years with a total value of some USD274 billion. Honeywell estimates that there will be 700 deliveries this year, with a 17% increase in 2023, while its overall forecast shows a marked increase on the data issued last year.
“Demand for new business jets is as high as we’ve seen since 2015, and we expect high levels of demand and expenditures for new aircraft for several more years,” said Heath Patrick, President, Americas Aftermarket at Honeywell. “The business aviation industry is greatly benefitting from a wave of first-time users and buyers due in part to changing habits brought on by the Covid-19 pandemic. The business aviation sector is expected to recover to 2019 delivery and expenditure levels by 2023, which is much sooner than previously expected.”