The corporate private-jet boom is soaring to new heights with Honeywell, the American aerospace group that is a key supplier, saying orders are up 100% and forecasting record sales for the next decade.
“Industry growth has moved into unparalleled territory,” said Rob Wilson, president of business and general aviation at Honeywell Aerospace, which makes engines and avionics for business jets. He expects deliveries of business jets to exceed 1,000 this year for the first time, up from 861 aircraft delivered last year.
Manufacturers in the first half of this year achieved more than 900 orders, 100% up on the same period last year, and Honeywell forecasts that 14,000 aircraft � equivalent to the world’s entire fleet today � will be delivered in the next decade. That market will be worth $233 billion (£114 billion).
Such is the demand for large, long-range jets like the Dassault Falcon 7X and Bombardier Global Express that there are delays of up to six years for delivery.
Honeywell reported a solid base of demand from fractional ownership companies like NetJets, but said its total share of sales would fall because of high demand from traditional business operators and start-up air-taxi firms.
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