The forecasts released last month at the NBAA Convention from turbine-engine manufacturers Honeywell and Rolls-Royce and market research firm Inflight Management Development Centre (IMDC) agree: the business jet market has turned the corner. Honeywell and Rolls-Royce project delivery of between 500 and 550 business jets this year, on par with, or slightly above, last year’s deliveries. IMDC analysts predict a more precise 526 deliveries by year-end, a small recovery from last year’s 518 jets. In the longer term, from 2005 to 2014 and beyond, the forecasts show continued growth in deliveries, though to varied degrees.
Honeywell’s Outlook
Honeywell Aerospace’s 13th annual business aviation outlook projects increasing demand for new business jets, with customers expected to purchase more than 8,300 jets valued at about $131 billion from now through 2014. The forecast also projects sustained near-term sales for business jets, welcome news for an industry weary of the doldrums of the last three years.
“Improved order rates, established new model backlogs, continuing expansion in fractional ownership in North America and Europe and sustained economic recovery are key factors supporting a longer-term outlook for growth,” said Honeywell president and CEO Bob Johnson. “Operators continue to tell us they recognize the benefits of business aircraft and express strong interest in new technology and new models with improved value propositions.”
