Honeywell expects more private jet deliveries

Due to customer growth that occurred during the coronavirus pandemic, Honeywell International Inc has raised its forecast for business jet deliveries.

At the same time, it is expected that from 2023 to 2032, new business jets deliveries will be increased by 15% from last year, reaching 8,500, which in monetary terms will amount to $ 274 billion. In addition, their operation is projected to grow by 9% this year.

During the COVID-19 pandemic, there was a rapid increase in demand for private flights. Due to concerns related to the spread of coronavirus infection, the most solvent passengers made their choice in favor of private flights.

An increasing number of customers who previously chose commercial airline business class are now flying to their destinations via private jets. According to a survey conducted by Honeywell, the expectations of about 74% of new users are associated with maintaining flights at the level of the current year.

Referring to its research, the company informed that 35% of the entire fleet carrying out the influx of new customers are business jets and small cabin aircraft. The next in line are medium-sized passenger planes and large long-haul aircraft.

According to Heath Patrick, president of Honeywell Aerospace, demand for new business jets is as strong as it was in 2015, and over the next few years the company expects a high level of demand and spending on new aircraft.

The plans of the operators who were interviewed include the acquisition of new aircraft up to the level of 2019, from which such giants as Airbus SE, Boeing Co, Bombardier Inc and General Dynamics Corp. will remain in the black.