Honeywell has released its 34th annual Global Business Aviation Outlook, projecting a record number of new business jet deliveries over the next decade. The forecast, based on surveys and data analysis from hundreds of aviation operators worldwide, anticipates the delivery of 8,500 new business jets valued at $283 billion through 2035. This figure represents the highest value in the history of Honeywell’s report and suggests an average annual growth rate of 3%.
Heath Patrick, president of Americas Aftermarket at Honeywell Aerospace Technologies, said: “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. Operators are increasing their usage rates and in turn manufacturers are continuing to ramp up production to keep pace with growing demand. Over the next decade, we expect these record-setting levels of deliveries and usage to continue.”
The report identifies several key trends for 2025, including growth from fractional operators and new economic policies contributing to higher demand. Year-over-year flight activity remains strong, and regional delivery trends continue. Operators continue to prioritize aircraft performance and cost.
Sustainability is another area highlighted in the outlook. Honeywell’s analysis for the fifth year examines how operators are working to reduce their carbon footprint, noting that more fuel-efficient aircraft are central to environmental improvements.
Honeywell’s forecasting methodology incorporates macroeconomic analyses, manufacturer production plans, expert discussions with industry leaders, and analysis of data from sources such as Cirium and WINGX. The company partnered with Seefeld Group and Ad Hoc Research to survey 312 nonfractional operators representing 1,199 business aircraft globally. The survey sample reflects the industry’s diversity in geography, operation type, and fleet composition.
Insights from the annual survey help inform Honeywell’s own product development decisions. The findings have guided investments in sustainability solutions, aircraft connectivity offerings, propulsion systems, safety products, services, and upgrades. The outlook also shapes Honeywell’s strategy for targeting growth sectors within aviation.
Honeywell Aerospace Technologies supplies products for commercial, defense, and space aircraft as well as terrestrial systems. Its offerings include aircraft engines, electronics, connectivity systems, mechanical components, and power systems. The company focuses on improving fuel efficiency, flight punctuality, and aviation safety.
Honeywell operates across multiple industries globally, aligning its business with trends in automation, aviation’s future, and energy transition. The company’s operations are supported by the Honeywell Accelerator system and Honeywell Forge IoT platform. For more information about Honeywell’s news and activities, visit www.honeywell.com/newsroom.
The release contains forward-looking statements subject to risks and uncertainties. Honeywell directs readers to its filings with the Securities and Exchange Commission for more details on these risks.
