Buyers of business jets are all expected to accept a delivery that is as much as 675 brand new aircraft with the value of around 20.5 billion dollars this year. This is a small increase over deliveries that have a value of 20 billion dollars in 2013, based on a forecast released by Honeywell International Inc.
The next decade’s outlook is showing demand for 9,450 280-billion dollar jets. That is an increase from the 9,250 250-billion dollar jets during the long-range forecast last year, according to Honeywell.
On the other hand, the global survey involving around 1,500 corporate departments for flights, which was released during the National Business Aviation Association conference’s eve, companies have already decreased the five-year plans they have in replacing or adding to the fleets they managed. This is along with the highest change in demand, originating from the region of Asia-Pacific.
According to Honeywell, managers of corporate fleets, such as charter companies and governments, have plans of making new purchases of jets within the coming five years equivalent to an average of around 23 percent of the fleets they own, a decrease from around 28 percent coming from the survey in 2013.
Buyers coming from the region of Asia-Pacific displayed the largest drop when it comes to plan buying, decreased by more or less 23 percent, while purchase expectations in places such as Latin America, North America, Africa and Middle East, went down by six, eight and eleven percentage points, according to the survey.
Buyers’ plans in Europe, on the other hand, increased six percentage points, even though they have included Russia, a place where plans for purchase go down because of economic sanctions and uncertainty.
According to business and general aviation president Brian, though they have a lower expectation from Russia when it comes to purchasing, Europe remained intact, which you think appears to be a good sign, especially from economies that are Western European.