Honeywell’s 34th annual Global Business Aviation Outlook projects record demand for new business jets over the next decade, forecasting 8,500 aircraft deliveries valued at $283 billion. According to the outlook, the figure represents the highest delivery value in the report’s history, with an expected average annual growth rate of 3%.
“The combination of recent economic growth, increasing demand for fractional ownership and a steady cadence of new aircraft development and technology upgrades have produced record levels of demand in business aviation,” said Heath Patrick, president of Americas Aftermarket for Honeywell Aerospace Technologies.
Honeywell’s report highlights fractional operators and new tax incentives as primary factors behind the surge. The return of 100% bonus depreciation under the One Big Beautiful Bill Act is expected to encourage additional aircraft purchases, particularly among charter and fractional ownership companies.
Honeywell noted that fractional fleets have expanded more than 65% since 2019, now totaling roughly 1,300 aircraft in service. Midsize and super midsize jets remain the most popular categories, while 20% of operators surveyed said they already have aircraft on firm order—up from 17% last year.
The survey also found operators are flying more in 2025, with global business jet flight hours increasing about 3% year over year. North America continues to dominate new deliveries, accounting for about 70% of global demand, followed by Europe at 14% and Latin America at 7%.
An airline-focused IATA report published Monday noted that, although broader jet traffic and orders are on the rise, resulting development, production, and maintenance backlogs are expected to drive up both operational and acquisition costs in the near-term.
Sustainability remains a growing priority, with 81% of respondents saying that developing more fuel-efficient aircraft and engines is key to reducing emissions.
Honeywell said the findings will inform its product strategies across propulsion, connectivity and sustainability initiatives for the next decade.
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