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Honeywell releases annual forecast for business jet deliveries

Oct. 20, 2014 7:16 AM ETHoneywell International Inc. (HON) StockHONBy: Yoel Minkoff, SA News Editor
  • Honeywell's (NYSE:HON) annual forecast of global deliveries estimates as many as 9,450 new business jets valued at about $280B between 2014 and 2024, about $30B and 200 more than predicted a year earlier when it reduced the expected number of deliveries 8% from about 10K.
  • The introduction of new models and increased buying activity among fractional jet operators are helping accelerate new deliveries, offsetting steep declines among manufacturers of smaller jets providing “reason for some cautious optimism,” says Brian Sill, Honeywell's president of business and general aviation.
  • Still, a full recovery from the global recession (which nearly halved jet deliveries from the 2008 peak of more than 1,300 aircraft) may take some time.
  • Last year, the company expected to return to the $22B in jet billings seen at the 2008 peak by 2016, but its latest forecast moves that back another year to 2017. Overall deliveries aren't expected to top 1K again annually until 2023.
  • Honeywell, which supplies business-jet manufacturers with everything from advanced avionics to jet engines, expects deliveries of between 650 and 675 new jets, basically flat over 2013’s 678 shipments. The value of those deliveries will outpace the growth in units compared with 2013's estimate, growing the market by 7%-8% to $280B from 2014 to 2024.

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