Honeywell's Forecast: Steady growth in business aviation sector
Cruising Heights|November 2023
Honeywell's recently released Global Business Aviation Outlook for 2023 reaffirms the prediction that business jet manufacturers are set to deliver approximately 8,500 aircraft with a combined value of nearly $300 billion over the next decade. This forecast remains consistent with the previous projection from 2022.
Honeywell's Forecast: Steady growth in business aviation sector

The report emphasizes the dynamic landscape shaping the business aviation sector. Business jet operators are swiftly expanding their fleets, while aircraft manufacturers are making significant strides to boost production and delivery rates to meet the surging demand.

Yet, the outlook also highlights a few significant trends affecting the industry. New orders have shown signs of slowing, and the post-pandemic period has witnessed a reduction in business aircraft flight activity. Furthermore, the report notes a noteworthy shift toward sustainability, reflecting the sector's commitment to environmentally responsible practices.

“We have seen fleet-expansion rates increase for the third year in a row,” said Javier Jimenez-Serrano, strategy manager, Honeywell. He says the trend reflects the surge of orders that came during the pandemic, driven partly by demand from first-time buyers.

According to Honeywell's latest projections, manufacturers are poised to deliver approximately 8,500 new business jets with an estimated total value of $278 billion from 2024 to 2033. These projections are based on comprehensive surveys of industry operators, manufacturers' production schedules, and economic analyses.

Among these anticipated deliveries, Honeywell expects around 500 will go to new business jet users, with a significant portion—about 4,000 aircraft—occurring within the first five years of this period. This projection underscores the strong growth expected in the business aviation sector in the coming years.

Esta historia es de la edición November 2023 de Cruising Heights.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición November 2023 de Cruising Heights.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE CRUISING HEIGHTSVer todo
Adani Airport Thales Forge Strategic Partnership to Improve Airport Operations and Passenger Experience in India
Cruising Heights

Adani Airport Thales Forge Strategic Partnership to Improve Airport Operations and Passenger Experience in India

Adani Airport Holdings Limited (AAHL), the largest private airport operator in India, and Thales, a global leader in advanced technologies, today announced a strategic partnership to revolutionise AAHL’s international airport operations and passenger experience across the country.

time-read
1 min  |
November 2024
ADVANCING AIR MOBILITY OVERCOMING CHALLENGES, SEIZING OPPORTUNITIES
Cruising Heights

ADVANCING AIR MOBILITY OVERCOMING CHALLENGES, SEIZING OPPORTUNITIES

Advanced Air Mobility (AAM), as analysed by M P RAJASEKHARAN, explores solutions for reducing urban congestion and enhancing access to remote locations through sustainable, automated air transport systems, addressing key challenges and future opportunities in this evolving sector.

time-read
10+ minutos  |
November 2024
ON THE CUSP OF GROWTH
Cruising Heights

ON THE CUSP OF GROWTH

The growth of regional airlines in India will increase the market for regional jetliners.

time-read
10 minutos  |
November 2024
BOEING STRIKE DISRUPTS INDIAN CARRIERS' EXPANSION PLANS
Cruising Heights

BOEING STRIKE DISRUPTS INDIAN CARRIERS' EXPANSION PLANS

The Boeing machinist strike has stalled aircraft deliveries, directly affecting Akasa Air and Air India Express, both of which are now facing delays in their fleet expansion efforts, highlights

time-read
6 minutos  |
November 2024
REGIONAL AIRPORTS MUSHROOMING WITH CHALLENGES GALORE
Cruising Heights

REGIONAL AIRPORTS MUSHROOMING WITH CHALLENGES GALORE

Karnataka's push for regional air connectivity has led to a surge in airport infrastructure, yet many of these airports face challenges like fluctuating demand and limited flight frequencies. While the UDAN scheme has supported growth, the long-term viability of several regional airports remains uncertain, highlights

time-read
8 minutos  |
November 2024
'PHARMACY OF THE WORLD' SUPPLY CHAIN WOES
Cruising Heights

'PHARMACY OF THE WORLD' SUPPLY CHAIN WOES

India's pharmaceutical sector, has achieved remarkable growth, but faces significant supply chain hurdles, including high logistics costs and limited cold chain facilities. Addressing these challenges is essential to sustain its global impact and future expansion, reports

time-read
6 minutos  |
November 2024
BUMPER WINTER AHEAD FOR INDIAN CARRIERS
Cruising Heights

BUMPER WINTER AHEAD FOR INDIAN CARRIERS

The DGCA's winter 2024 schedule approves 25,007 weekly flights, marking growth for Indian carriers, with Air India Express leading in expansion and Vistara set to merge with Air India, analyses

time-read
4 minutos  |
November 2024
AIRPORT ADVANCEMENT
Cruising Heights

AIRPORT ADVANCEMENT

Indian airports are placing a greater emphasis on digitalisation and enhancing their eco-friendly credentials, updates

time-read
8 minutos  |
November 2024
THROTTLING AHEAD
Cruising Heights

THROTTLING AHEAD

The situation with the grounding of Pratt & Whitney GTF engines is now trending downwards, a report

time-read
10 minutos  |
November 2024
Connecting cities to airports HELI-TAXIS ARE OUT, AIR TAXIS ARE IN
Cruising Heights

Connecting cities to airports HELI-TAXIS ARE OUT, AIR TAXIS ARE IN

As heli-taxis falter, electric air taxis promise to transform urban connectivity. Yet, scalability, regulations, and operational challenges must be overcome for them to deliver efficient, affordable city-airport travel, reviews

time-read
8 minutos  |
November 2024