Deliveries of new business aircraft are expected to drop by 40-45% in 2010, according to the 18th edition of its annual Business Aviation Outlook issued by Honeywell Aerospace. The company forecasts that approximately 11,000 new business jets worth $200 billion will be delivered from 2009 through 2019.
According to the survey, long-term buyer interest has increased, however new purchase plans are currently timed later in the five-year planning window. “The relatively stronger levels and timing of international purchase plans suggests that pent-up demand will improve both order intake and new jet delivery rates by 2011-2012, similar to what the industry experienced in the last cycle,” said Rob Wilson, President, Business and General Aviation, Honeywell Aerospace. “Despite some program cancellations and delays, there is still a solid pipeline of new high-value models supporting long-term growth and our survey indicates that international demand will remain significant.”
Honeywell Aerospace reports the international demand accounts for more than 50 percent of the new aircraft purchase plans projected over the next five years. Purchase expectations trended down in North America and Latin America, but rose markedly in Europe and moderately in the Middle East and Asia.