Honeywell: Bizjet Industry To Continue Climb
Honeywell Aerospace’s 21st annual business aviation market forecast released yesterday predicts short-term record growth and deliveries of more than 14,000 new business jets (not including very light jets) between now and 2017. Year to date, new jet orders have risen 100 percent over last year’s first-half levels, and OEMs are facing record backlogs of more than two years’ worth of production in many cases, despite predictions of 1,200 to 1,400 aircraft deliveries per year for the remainder of the decade. Since last year’s forecast, Honeywell has revised its overall projected number of aircraft deliveries upward by 2,000 airplanes, based in part on the more than 1,000 aircraft expected to be delivered this year. Next year that number is expected to exceed 1,300. While estimates of GDP growth in the U.S. over the next year and a half are expected to remain sluggish, Honeywell believes the globalization of the business aviation market might be enough to stave off a possible slump in the industry.