As the industry nervously anticipates a tepid buying climate at this year’s NBAA Convention, engine and avionics manufacturer Honeywell sees a serious near-term dip in business jet deliveries but a gradual climb back to the heights reached during last year’s production peak, based on the results of its 18th annual 10-year market forecast.
Despite the more than year-long downturn in usage and the recent scaling back of flight departments, the Phoenix-based company sees signs of optimism in its report and is predicting an uptick in worldwide demand starting in 2011. “The biggest thing is as we look at the five-year purchase plans for new aircraft, the purchase expectation has increased to 40 percent, meaning 40 percent of the existing fleet of operators would indicate that they are going to buy a new or replacement or addition to their fleet in the next five years,” said Rob Wilson, Honeywell’s president for business and general aviation. “It’s tempered by the fact that the people cited their intention to purchase more in the latter part of that five-year horizon. It says people have a positive view but the positive view is more long term in that five-year view, and that there’s still a strong robust demand for business aviation.”
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