Honeywell: 10,000 Business Jet Deliveries Through 2022

In its 21st annual Business Aviation Outlook, Honeywell is forecasting nearly 10,000 new business jet deliveries worth about $250 billion from 2012 to 2022.

The 2012 Honeywell survey reflects an approximate 9% increase in projected delivery value over the 2011 forecast. The expected gains come from pricing increases and a change in expected business jet mix, which reflects a continued trend toward larger business jet models.

Honeywell forecasts 2012 deliveries of approximately 680 to 720 new business jets, a single-digit increase over levels reported last year.

“Next year’s totals are anticipated to be of similar magnitude, reflecting the protracted nature of the global economic recovery,” said Rob Wilson, president, Honeywell Business and General Aviation. “Over the medium term, a return to historical growth conditions supported by globalization, wealth creation in developing nations and new aircraft development should boost orders and support accelerated growth beginning mid-decade. Despite the economic challenges our industry has been dealing with for the past 40 months, we believe some progress is being made.”

To read the Honeywell news release click here.