Honeywell Aerospace’s recently released 23rd annual Business Aviation Outlook calls for up to 9,450 new business jets worth $280 billion to be delivered over the next 10 years. While that’s up by 200 aircraft from the 2013 forecast, the share of projected five-year global demand in the Middle East and Africa moved below its historical range, the company noted.
In fact, 18 percent of operators in the Middle East and Africa surveyed by Honeywell for the outlook said they plan to purchase a new business jet as a replacement or addition, down from 26 percent last year. “The level of purchase plans is under the world average and unsurprising in that it has been a year of significant political upheaval and ongoing conflict in the region, as well as a year in which oil prices have drifted lower and health crises have emerged in Africa,” Honeywell said. “Regional distress has taken a toll, with operators in the region scheduling their purchases later in the next five-year window than expected last year, with only 21 percent of purchases planned before 2017.”
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