The report emphasizes the dynamic landscape shaping the business aviation sector. Business jet operators are swiftly expanding their fleets, while aircraft manufacturers are making significant strides to boost production and delivery rates to meet the surging demand.
Yet, the outlook also highlights a few significant trends affecting the industry. New orders have shown signs of slowing, and the post-pandemic period has witnessed a reduction in business aircraft flight activity. Furthermore, the report notes a noteworthy shift toward sustainability, reflecting the sector's commitment to environmentally responsible practices.
“We have seen fleet-expansion rates increase for the third year in a row,” said Javier Jimenez-Serrano, strategy manager, Honeywell. He says the trend reflects the surge of orders that came during the pandemic, driven partly by demand from first-time buyers.
According to Honeywell's latest projections, manufacturers are poised to deliver approximately 8,500 new business jets with an estimated total value of $278 billion from 2024 to 2033. These projections are based on comprehensive surveys of industry operators, manufacturers' production schedules, and economic analyses.
Among these anticipated deliveries, Honeywell expects around 500 will go to new business jet users, with a significant portion—about 4,000 aircraft—occurring within the first five years of this period. This projection underscores the strong growth expected in the business aviation sector in the coming years.
This story is from the November 2023 edition of Cruising Heights.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 2023 edition of Cruising Heights.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
India's space economy set to soar
India's burgeoning space economy could see a substantial increase in its global share by 2040. At present, India's space sector contributes a modest $8 billion to the overall cake.
JettWings leads the way in UDAN 5.3
JettWings Airways has emerged as a frontrunner in the aviation industry, solidifying its position as a leading private operator under the UDAN RCS 5.3 scheme.
Sock drying to underwear adventures: Laundry tales at 30,000 feet
Picture this: you're settled into your first-class seat, ready for a smooth and luxurious flight with United Airlines. But as you glance around, you notice something that makes you do a double-take.
PLETHORA OF AIR TRAVEL ACTIVITY IN THE INDIAN SKIES
The Northern Summer schedule for 2024 took off on March 31, 2024, ushering in a rush of air travel activity. With DGCA's seal of approval on 24,275 weekly departures, the skies buzzed with an average of 3,467 flights daily. However, on the inaugural day, airlines only managed to execute 3,035 scheduled domestic flights, representing a modest 87.5 per cent of the approved schedule. Delving into the nuances of this aviation landscape, an exclusive analysis by aviation analytics company Cirium unveils fascinating insights into the longest and shortest flights crisscrossing the Indian skies.
Agnibaan SOrTeD rocket launch postponed again
Chennai-based space start-up Agnikul Cosmos called off the maiden launch of its 3D-printed, semi-cryogenic Agnibaan rocket about 129 seconds before lift-off citing communication in the onboard hardware.
Pushpak RLV-TD successfully lands autonomously
ISRO achieved another significant milestone in reusable launch vehicle (RLV) technology with the successful landing of Pushpak (RLV-TD), the winged vehicle, autonomously on the runway.
TIME FOR CREDIBLE ROTARY-WING CAPABILITIES
With tactical-level challenges looming in India’s neighbourhood, it is time for the Indian armed forces to rapidly brush up on rotorcraft capabilities. A Special Report
"PAKISTAN INTERNATIONAL AIRLINES: A TROUBLED LEGACY IN NEED OF REVIVAL"
Pakistan International Airlines PIA), once renowned for its slogan Great People to Fly With,’ has a storied history of contributions to the aviation industry. despite its illustrious past, PIA has faced challenges in recent decades, witnessing a decline from its former glory. This downward trajectory has prompted concerns about the airline's sustainability and competitiveness in the modern aviation landscape. The Pakistan government is now preparing to privatise the
Qatar explores major widebody order with Boeing, Airbus
Qatar Airways is reportedly in preliminary discussions with both Boeing and Airbus regarding a potential order of up to 150 widebody jets to modernise and expand its fleet as it needs to tackle the issue of an ageing fleet for long-distance.
"Embraer achieves ETOPS-120 certification for E2 Series
Embraer recently achieved a significant milestone with the acquisition of 120-minute ETOPS (Extended-Twin Engine Operations Performance Standards) approval for its E190-E2 and E195-E2 aircraft.