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

Middle East and Africa – Higher purchase plans were reported, following a five-year low in 2019.

  • 16% of respondents said they will replace or add to their fleet with a new jet purchase, up from 12% last year.
  • Respondents plan to schedule more new business jet purchases within the first year of the survey compared with 2019. About 26% of operators in this year’s survey plan to purchase new business jets within the next year, up from 20% in last year’s survey.
  • 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%.

Used Jets

  • Plans to acquire used jets in the next five years dropped by about 6 percentage points from last year’s survey. Twenty-five percent of used business jets will trade hands over the next five years, compared with a five-year projection of 31% in 2019.

Making an Impact on Business Decisions

The Global Business Aviation Outlook reflects current operator concerns and also identifies longer-cycle trends that Honeywell uses in its own product decision process. The survey has helped identify opportunities for investments in flight-efficiency upgrades, expanded propulsion offerings, innovative safety products, services, upgrades, and enhanced aircraft connectivity offerings. The survey also informs Honeywell’s business pursuit strategy and helps position the company consistently on high-value platforms in growth sectors.