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Honeywell: Business Jet Market to Recover to 2019 Levels by Second Half of 2021

The Middle East and Africa are reporting a higher purchase plan following a five-year low in 2019. The share of projected five-year global demand attributed to the Middle East and Africa is 4%, in line with the historical range of 4% to 6%.

Results from Honeywell’s closely-watched survey do not support the hypothesis that a decline in commercial travel has led to an increase in business jet purchases, said Shantanu Vaish, Honeywell Aerospace’s director of strategy and industry marketing, Reuters reports.

Plans to acquire used jets in the next five years have also dropped by about 6% from last year’s survey with 25% of used business jets trading hands over the next five years, compared to a five-year projection of 31% in 2019.

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