Key Findings: 2023 Honeywell Global Business Aviation Outlook

The 2023 Honeywell Global Business Aviation Outlook released Oct. 15, just before the 2023 National Business Aviation Association-Business Aviation Convention & Exhibition in Las Vegas, is in line with the 10-year forecast released a year ago. The outlook forecasts up to 8,500 new business jet deliveries worth $278 billion from 2024 to 2033.

Here are five key findings in the report:

• In 2024 new business jet deliveries are expected to be 10 percent higher than in 2023. 
• New business jet 5-year purchase plans are up two percentage points compared to last year. 
• For the third year in a row, fleet additions are up. 
• Deliveries of new jets and expenditures are projected to grow in line with expected worldwide long-term economic growth over the next decade.
• Large, long-range and ultra-long-range aircraft classes are expected to account for about 69% of all expenditures of new business jets in the next five years.