The Global Business Aviation Outlook, released by Honeywell, this week revealed that business jet deliveries are forecast to rise by 7,700 from 2019 to 2028, representing strong short-term growth worth as much as $251 billion.
For North America, this has blossomed into slightly higher acquisition plans than were projected last year. The continent currently expects to host 61 percent of projected global demand, and has increased jet purchase plan levels by 1 point. Some of these purchases will occur in the next two years — around 26 percent of operators responding to the survey indicated such.
“A better used-aircraft market environment coupled with the entry into service of many new business jet platforms will lead to higher deliveries in 2019 after a virtually flat year in 2018,” Bill Kircos, vice president of Global Marketing at Honeywell Aerospace, said. “We are excited about the used market and about new and innovative aircraft models that will not only drive solid growth in 2019 and 2020 but also have a significant impact on new business jet purchases in the midterm and long term.”
All regions except Asia are reporting higher flight activity over the year. Asking prices are up, used aircraft inventory is on the rise, recent model jet resales are down, and in North America, young used aircraft inventories are only 4 percent of the installed base for sale. Worldwide, Honeywell reports, operators plan to make new jet purchases equivalent to about 20 percent of their fleets over the next five years as replacements or fleet additions.