Bizav in Asia: Manufacturers bullish on region’s prospect | Aviation International News

Bizav in Asia: Manufacturers bullish on region’s prospect

Asia is set to be at the epicenter of a resurgence in business jet sales, according to Honeywell Aerospace’s latest market forecast.

By Charles Alcock • Managing Editor

February 1, 2010

Asia is set to be at the epicenter of a resurgence in business jet sales, according to Honeywell Aerospace’s latest market forecast. In the most recent survey, 58 percent of operators in Asia indicated that they intend to replace or expand their fleets over the next five years. This was step up from the 2008 survey, when almost 50 percent had said they would buy new aircraft following a nine-point gain that year compared with 2007.

Globally, the Honeywell forecast predicted the delivery of approximately 11,000 new business jets between 2009 and 2019, generating $200 billion in sales. The U.S. avionics and engine maker sees the Asia-Pacific region accounting for a proportionally higher share of this growth than other parts of the world.

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