Honeywell Sees Gradual Recovery

In its annual business aviation forecast preceding the NBAA Convention, Honeywell reported on its latest round of research into the likely buying behavior of turbojet aircraft purchasers over the next five and 10 years. The forecast, which closely matches the projections of several major jet manufacturers at the show, sees a gradual recovery from the dark days of recession with a bottoming out next year and a gradual recovery culminating in a near-$30 billion market by 2020, a level that is 33 percent higher than the historic highest level, reached three years ago. The major growth, interestingly, would be in the very highest segments of the market, the ultra-high-speed, long range aircraft, like the emerging Gulfstream G650 and Bombardier 7000 and 8000 jets and with more modest growth in lighter segments.