LAS VEGAS—Honeywell Aerospace expects global deliveries of new business jets this year will be down 15 percent from 2010 as economic fears cause corporations to push off expanding their fleets.
Based on a survey of 1,500 corporate flight departments, Honeywell expects deliveries of between 600 and 650 new business jets, down from 732 in 2010.
Deliveries next year are expected to be higher, but still below 700.
Purchases in North America are expected to rise slightly despite ongoing concerns about job growth and stock market volatility, but Honeywell said international demand is varied depending on the level of economic concern. About 45 percent of new aircraft purchases over the next five years are expected to be made internationally. Purchase expectations are up in Asia and the Middle East, but down in other regions, including Latin American and especially in Europe.
Honeywell Aerospace, which has issued its business aviation outlook annually for two decades, makes engines, electrical systems and other aircraft components. It's a unit of Honeywell International Inc. of Morris Township, N.J. The survey was conducted between May and August.