Honeywell forecast sees strong demand for business jets over the next decade (NASDAQ:HON)

Honeywell’s (NASDAQ:HON) forecasts as many as 8,500 new enterprise jet deliveries valued at $278B over the following decade, per its rolling 10-year projection supplied final 12 months, the corporate mentioned Sunday in its annual World Enterprise Aviation Outlook.

New customers in enterprise aviation have elevated demand by 500 new plane and 6% extra flights over the following decade, and new enterprise jet deliveries in 2024 anticipated to be 10% increased than in 2023, the corporate projected.

Honeywell (HON) foresees giant, long-range and ultra-long-range plane lessons accounting for ~69% of all expenditures of recent enterprise jets within the subsequent 5 years.

The corporate additionally mentioned 60% of surveyed operators are implementing no less than one technique to cut back their carbon footprint, 10 share factors greater than a 12 months in the past.

“Our business is on the upswing,” in response to Heath Patrick, president of Americas aftermarket for Honeywell (HON) Aerospace. “Operators are displaying confidence with plans to increase their fleets at a quicker price than any time within the earlier decade.”