Honeywell forecasts delivery of approximately 14,000 new bizjets from 2007 through 2017 with total sales of USD 233 billion in its annual Business Aviation Outlook issued just a couple of days before NBAA 2007 starts.
2007 is to be the fourth year running of industry expansion started in 2003. Honeywell analysts forecast delivery of more than 1,000 aircraft by the end of this year which will be a significant improvement over last year and will mark a new industry record in business aviation history. Deliveries are also expected to exceed 1,300 in 2008.
According to Honeywell the market breakdown by region for the next five years is as follows: North America will account for 49.7% of world total new bizjet deliveries, Europe (including Russia) will contribute 21.6 %, Latin America and Middle East/Africa follow with 10.2% and 3.7% respectively.
The market survey by Honeywell has been produced for 21 years and is one of the most reliable in the world.