Honeywell Forecasts Business Jet Usage Will Recover To 2019 Levels By Q3 2021

posted on 7th October 2020 by Eddie Saunders
Honeywell Forecasts Business Jet Usage Will Recover To 2019 Levels By Q3 2021

Honeywell’s 29th annual Global Business Aviation Outlook forecasts up to 7,300 new business jet deliveries worth $235 billion from 2021 to 2030, down 4% in deliveries from the same 10-year forecast a year ago. Despite the dip, 4 of 5 business jet operators in the survey indicate that purchase plans have not been affected by the COVID-19 pandemic. Short-term reductions in both deliveries and expenditures due to the pandemic aren’t expected to have a lasting impact on the business jet industry.

Business jet usage is expected to rebound to 80% to 85% of 2019 levels in the 4th quarter of 2020 and fully rebound by the middle of 2021, indicating demand for business jet travel is returning after the global pandemic caused a slowdown in the industry earlier this year,”