Slow but steady continues to be the theme for anticipated worldwide business aircraft deliveries, according to the 26th annual Global Business Aviation Outlook released by Honeywell ahead of NBAA’s Business Aviation Convention & Exhibition (NBAA-BACE).
A variety of external factors are expected to drive low single-digit growth over the next 10 years, with up to 8,300 new business jet deliveries worth $249 billion from 2017 to 2027. "Declining used aircraft prices, continued low commodities prices, and economic and political uncertainties in many business jet markets remain as near-term concerns for new jet purchases, leading to a modest growth in 2018," said Ben Driggs, Honeywell president for the Americas Aftermarket.
This marks the fourth consecutive decline in the annual forecast's anticipated business aircraft deliveries, with 2017 totals down 2-3 percentage points from the 2016 10-year forecast and off the 2014 forecasted peak of up to 9,450 anticipated deliveries. Honeywell further noted an 8 percent decrease in planned new jet purchases by operators over the next five years compared to 2016 survey results, with super-midsize through ultralong range aircraft representing more than 85 percent of all purchases in that time. For its forecast window, Honeywell believes North America will account for 61 percent of the market, followed by Latin America at 15 percent, Europe (14 percent), Asia-Pacific (6 percent) and the Middle East and Africa (4 percent).