Corporate jet market looking up

Economy October 18, 2018 01:00

By The Nation

The business jet industry is expected to experience strong growth in the short to medium term, supported by several new aeroplane models coming to market and an improved used aircraft environment, according to Honeywell’s 27th annual Global Business Aviation Outlook.



Released yesterday, the Outlook forecasts up to 7,700 new business jet deliveries worth $251 billion (Bt8.15 trillion) from 2019 to 2028, up 1 to 2 percentage points from the 2017 10-year forecast.

“A better used-aircraft market environment coupled with the entry into service of many new business jet platforms will lead to higher deliveries in 2019 after a virtually flat year in 2018,” said Bill Kircos, vice president, global marketing, Honeywell Aerospace.

“We are excited about the used market and about |new and innovative aircraft models that will not only drive solid growth in 2019 and 2020, but also have a significant impact on new business jet purchases in the midterm and long term.”