Five Takeaways from Honeywell’s New Business Aviation Outlook

Honeywell Aerospace Technologies just released its 33rd annual Global Business Aviation Outlook. This highly anticipated report provides unique insights into current aircraft industry trends as well as longer-cycle developments, and is informed by extensive surveys of business aviation operators across the globe.

Five Takeaways from the 2024 Outlook

• Preference for larger jets. Operators favor business jets that accommodate more passengers on longer flights. The outlook projects that larger jets will account for two-thirds of aircraft spending in the next 10 years.
  
  
• Performance over cost. Buyers prioritize aircraft performance and total cost of ownership rather than just acquisition costs.
  
  
• Flight hours on the rise. Ninety-three percent of operators plan to fly as many or more hours in 2025 as they did in 2024.
  
  
• Growing access. New business aircraft users are entering the market through fractional ownership, leasing and jet card programs, driving demand for new aircraft.
  
  
• Innovative designs. Operators prefer new and refreshed models with roomy cabins, impressive ranges, improved fuel efficiency and breakthrough technologies including new flight decks, advanced satellite communications and more.
   

Based on survey results, Honeywell forecasts up to 8,500 new business jets worth $280 billion will be delivered over the next decade, an increase in value from last year’s outlook.

“The business aviation industry is in a prolonged period of healthy growth, and we don’t see that positive trend changing any time soon,” said Heath Patrick, President, Americas Aftermarket, Honeywell Aerospace Technologies. “Business aviation continues to see more users and, as a result, manufacturers are ramping up production to keep pace with growing demand, a trend we expect to continue for the foreseeable future.”