Some 9,250 new business jets worth nearly $260 billion will be delivered between 2013 and 2022, according to Honeywell’s 22nd annual Business Aviation Outlook, released yesterday. This latest forecast calls for about 750 fewer aircraft shipments than in the 10-year outlook released by the company last October, though the overall value is up by about $10 billion as the trend toward larger business jet models continues.
Honeywell predicts deliveries of 600 to 625 new business jets this year, down from the 672 jets handed over to customers last year. “The reduced deliveries expected in 2013 are largely due to new program delays, rather than deterioration in demand,” said Honeywell Business and General Aviation president Rob Wilson. “2014 industry deliveries are anticipated to be up modestly, reflecting recovery in supply-side constraints and some gains linked to the projected pace of global economic recovery.”
According to Honeywell, many of the deliveries and billings over the next decade are projected to be super-midsize or larger business jets. In fact, these classes of aircraft are expected to account for 60 percent of volume and nearly 85 percent of the retail value.
By region, North America is expected to account for 61 percent of the forecast deliveries; Asia Pacific, 5 percent; Africa/Middle East region, 4 percent; Latin America, 18 percent; and Europe, 12 percent.