Oct 13 (Reuters) - Aerospace supplier Honeywell ( HON )
said on Monday it expects record deliveries of new business jets
over the next decade, providing the latest sign that demand for
private air travel, which surged during the COVID-19 pandemic,
is holding up.
Affluent travelers, who avoided scheduled flights in 2020,
helped private flying recover earlier than the commercial
airlines' business, but there were doubts whether they would
stick with private air travel once the pandemic was over.
A report by the U.S. maker of avionics and business jet
engines, forecasts private plane deliveries at a higher level
than before the pandemic, with demand for planes resilient
despite a U.S.-led trade war and geopolitical tensions.
Honeywell ( HON ) predicts global deliveries of 8,500 new business
jets with a projected value of $283 billion - the highest in the
report's 34-year history - over the next decade. The report
comes ahead of the world's largest business jet show, which
starts on Tuesday in Las Vegas.
"More people are flying in business aviation than
pre-COVID," said Ben Driggs, chief commercial and strategy
officer at Honeywell Aerospace in an interview.
"Those hours have continued to increase at a much higher
level since 2019, so it appears like people are really staying
with business aviation."
Demand has driven up shares of Canadian planemaker
Bombardier which is set to start deliveries of its
Global 8000 business jet, even as U.S. rival Gulfstream
Aerospace launches a replacement to its super-midsized G280.
New business jet deliveries are expected to grow 5%, while 91%
of operators expect to fly more than this year.