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

Europe Operators have slowly been replacing aging aircraft in the fleet.

  • Europe’s purchase expectations decreased this year to roughly 24% of the fleet, down 4 percentage points compared with last year’s results.
  • About 24% of operators plan to schedule their new purchases within the next two years, down 6 percentage points and below the worldwide average of 30%.
  • Europe’s share of global demand over the next five years is estimated to be 18%, 1 percentage point lower than last year.

Latin America – Purchase plans dipped 6 percentage points to a five-year low.

  • In Latin America, 15% of the fleet is expected to be replaced or supplemented with new jet purchases over the next five years, down from 21% in last year’s survey.
  • About 19% of this region’s projected purchases are planned between 2020 and 2022, lower than the worldwide average of 30%.
  • Latin America will represent ~3% of the total projected business jet demand over the next five years versus 7% in last year’s survey. The decline is due to economic pessimism in the region.

Asia Pacific – Purchase plans are stable in the region, largely unchanged from last year.

  • Operators in Asia Pacific report new jet acquisition plans for 14% of their fleet over the next five years.
  • Based on the expressed level of purchase plans, Asia Pacific remains at a 10% share of global new jet demand over the next five years.
  • About 30% of respondents in Asia Pacific plan to schedule their new purchases within the first two years of the five-year horizon, compared with 40% a year ago.