Honeywell Releases Annual Summary Of Market
The National Business
Aviation Association conference is already in full swing... one day
before the show opens its doors to the public. It looks to be a
great show... and exhibitors and customers at the Orange County
Convention Center Monday should be buoyed by an industry forecast
that says good times are ahead for bizav.
In its annual industry forecast released Sunday, Honeywell
Aerospace says 2006 is shaping up as a banner year for business jet
deliveries, exceeding last year's shipments by 15 percent.
Furthermore, 2007 should be even better... in fact, the industry
may break the 1,000 mark for the first time in aviation
What's fueling the growth? Honeywell says international demand
is at record levels... and several new models are available
in nearly all segments of the business aviation market.
Fractional ownership programs, jet card operators and charter
services are also buying planes.
"Overall, the outlook is solid," said Honeywell's president of
business and general aviation Rob Wilson, as reported in the
Wichita Eagle. "It's a great time to be in business aviation."
Wilson added the increase in demand is expected to plauteau
between 2009-2011... with another gain expected after that.
Most business-jet segments are expected to grow at a fairly
balanced rate over the next five years... with long range jets
(Global Express) projected to exceed 1,600 deliveries over the next
11 years. Medium-size planes (Citation Sovereign, Hawker 4000,
LearJet 60) should account for about 30 percent of projected demand
through 2011, with light jets (Citation Bravo, CJ3, LearJet 45)
taking in 25 percent of the demand.
Deliveries of very light jets -- defined by Honeywell, if not
the marketplace, as the Citation Mustang, CJ1 and CJ2, and
Raytheon's Premier I -- are expected to increase dramatically in
2007, and average around 250 deliveries over the next 11 years.
Meanwhile, "personal" jets such as the Eclipse 500 should account
for approximately 4,000 deliveries in the next decade.