With the U.S. economy rattling world markets, one might forgive industry prognosticators for revising their annual business jet forecasts radically, yet many of the predictions have become only slightly conservative in light of recent events.
Even taking into account the most recent upheaval on Wall Street, engine and avionics supplier Honeywell’s annual forecast calls for deliveries of up to 17,000 new jets worth approximately $300 billion through 2018. “New aircraft sales have remained at record levels,” said Rob Wilson, Honeywell’s president for business and general aviation. He added, “2008 will add to the string of record years the industry has experienced and order intake across most business jet categories remains strong, consistent with last year’s forecast. Aircraft backlogs currently equate to nearly three years’ worth of deliveries, so 2008 and 2009 still shape up to be strong years for the industry.” In terms of bizliners, such as BBJs and ACJs–while not specifically included in the forecast–the outlook expects another 250 deliveries over the next 10 years. As for VLJs with a price tag of less than $2.5 million, a category heretofore excluded from its forecast, Honeywell sees potential demand for 4,000 to 5,000 through the survey period.
