Honeywell’s annual business aviation forecast predicts 8,500 new business jets worth $278 billion will be delivered over the next 10 years, pretty much the same trend the company predicted last year. The Honeywell forecast is announced on the eve of NBAA-BACE every year, and the big show is being set up at the Las Vegas Convention Center for its opening on Tuesday. Flying Media Group has a team of experienced journalists in Vegas and they’ll be filing regular reports on the news as it breaks. According to Honeywell, the indicators are upbeat and the main challenge facing the industry is how to scale up to meet record high backlogs and demand.
“Our industry is on the upswing. Operators are showing confidence with plans to expand their fleets at a faster rate than any time in the previous decade,” said Heath Patrick, president, Americas Aftermarket, Honeywell Aerospace. “There’s also a positive shift toward sustainability, as operators are keen to reduce carbon emissions.” Of course, the forecast is also good news for Honeywell, whose HTF engines are on several midsize and super midsize bizjets. While all sectors will see continued success, big jets continue to be where the money is. Honeywell says 69 percent of expenditures will be in the large, long-range and ultra-long-range markets over the next five years.