Honeywell Forecast Paints Rosy Picture
The 20th annual forecast from avionics and engine manufacturer Honeywell points toward upbeat purchase expectations for business jets over the next 10 years, especially from international customers. While demand from North America will continue to be robust, demand is growing fastest in Asia, the Middle East and Africa. According to the forecast, record deliveries are projected for 2006 and 2007, and the crystal ball shows a strong long-term outlook with an expected 12,000 bizjets worth $195 billion to be delivered by 2016.
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The bizjet delivery forecast does show a growth plateau between 2008 and 2012, though shipments are still expected to stay above 1,000 aircraft each year during this cooling-off period. Honeywell said growth in the business aviation market is fueled by the introduction of new aircraft models, engines and avionics. If the forecast is a painting of the future, then life is imitating art this week at the NBAA show as manufacturers have begun to announce an avalanche of new products.