Predicted Surge in Business Jet Market: Honeywell Forecasts $280B Boom
Honeywell unveiled its 33rd annual Global Business Aviation Outlook on October 20, 2024, predicting a significant surge in the business jet industry over the next decade. The aerospace giant anticipates the delivery of up to 8,500 new business jets, valued at a staggering $280 billion from 2025 to 2034. This projection signifies an increase from last year’s forecast of $278 billion.
The outlook suggests a promising future for the business jet industry. Deliveries in 2025 are expected to be 12% higher than in 2024, with expenditures projected to increase by 11%. Interestingly, more than 90% of the operators surveyed intend to maintain or increase their flight frequency in 2025 compared to 2024.
Large jets are predicted to account for approximately two-thirds of all expenditures. When it comes to purchasing criteria, performance takes the lead for 82% of buyers, followed by cost considerations at 60%.
Source: Honeywell