Business & GA

Honeywell Predicts Modest Growth

By Tish Drake | October 9, 2011
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Honeywell expressed cautious optimism in the recovery of the business aviation industry, hopeful that 2011 will be the “trough year” and 2012 will see modest growth buoyed by international demand.

In its annual Business Aviation Forecast, the unofficial kick-off of the National Business Aviation Association’s (NBAA) annual conference, Honeywell predicts $230 billion in new business jets from 2011 through 2021, a 2 percent increase compared to last year’s forecast. For 2011, Honeywell Aerospace estimates deliveries of 600-650 new business jets, down about 15 percent from 732 in 2010 due to continued slow global economic recovery.

“Sustainability is a concern due to the global economic slowdown,” said Rob Wilson, president of Honeywell’s Business and General Aviation business unit. “We noted over the last two years that the timing of planned purchases in the five-year window was heavily shifted in most regions to the post-2010 timeframe. That still remains the case, with roughly 80 percent of planned purchases timed for 2013 or after.”

Wilson admitted he expected a stronger 2010, but said “we’re still significantly better than we were a year ago. … We’ve got a good strong to tell in light of a difficult environment.”

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