Up to 7,400 new business jet deliveries worth $238 billion are likely from 2022 to 2031, up 1% in deliveries from the same 10-year forecast a year ago. This was revealed in Honeywell’s 30th annual Global Business Aviation Outlook forecast.
In 2021, surveyed business jet operators reported a sharp increase in used jet purchase plans, 12% above last year’s report, equivalent to 800 additional used business aircraft, it said. Business aircraft manufacturers also announced a strong increase in jet orders, indicating that the industry has almost completely shaken off the effects of the Covid-19 pandemic.
“The increased demand for used jets is estimated at more than 6,500 units over the next five years, putting pressure on an already record low inventory and driving additional demand for new jets,” said Heath Patrick, President, Americas Aftermarket, Honeywell Aerospace.
“Our latest operator survey results support continued private jet usage growth, as more than 65% of respondents anticipate increased business jet usage in 2022. Despite the ongoing challenges presented by the pandemic, flight hours have recovered and grown beyond pre-pandemic levels. The overall health of the business jet market is strong, and growth is expected to continue.”
