October 18, 2010
Business aviation should begin its next period of expansion in 2012, according to the 19th annual business aviation outlook issued by Honeywell Aerospace at NBAA's Annual Convention this week. About 11,000 new business jets, valued at over $225 billion, will be delivered from this year through 2020, according to the company's analysis. "Despite a torpid recovery, there have been relatively few program cancellations and delays," said Rob Wilson, president of business and general aviation for Honeywell. "The pipeline of new high-value models supporting long-term growth remains strong. Our survey indicates that international demand will still remain significant and contribute to longer-term growth." But in the short term, 2011 will likely be no better than this year, with an estimated 675 to 700 new business jet deliveries, Honeywell said.
"This year, operators outside North America have become more cautious about the strength and pace of the recovery," Wilson said. "While they are still looking beyond the current economic climate and anticipating a return to improved business conditions, they have tempered near-term expectations and buying decisions, as reflected in the current delivery forecast." Honeywell's forecast is based on responses to an industry survey and factors in economic growth forecasts. The full news release features more details about expectations for the various regions of the world as well as the various segments of the market, such as fractionals, used aircraft, and personal jets.