Honeywell Bizjet Forecast Calls for Boost by 2012
Yesterday just as the NBAA Convention was set to open, engine and avionics maker Honeywell released its annual 10-year business aviation market forecast. Its latest outlook calls for a sharp contraction in business jet deliveries through 2010 but a gradual return in demand starting in 2011. Despite last year’s record 1,313 business jet deliveries, Honeywell is predicting only between 750 and 800 deliveries this year and fewer than 700 in 2010. While future near-term demand in North and Latin America remains relatively flat, Honeywell’s forecast sees a strong appetite for new aircraft in Europe, Africa, the Middle East and Asia. “The relatively stronger levels and timing of international purchase plans suggests that pent-up demand will improve both order intake and new jet delivery rates by 2011 to 2012,” said Rob Wilson, Honeywell’s president for business and general aviation. “Despite some program cancellations and delays, there is still a solid pipeline of new high-value models supporting long-term growth.” Honeywell’s current forecast calls for deliveries of up to 11,000 new business jets by 2019, down significantly from the approximately 17,000 indicated in the company’s 10-year outlook last year.