AEA member company Honeywell released its 22nd annual Business Aviation Outlook, Oct. 20, at the NBAA Convention in Las Vegas, Nev.
In the report, the company is forecasting up to 9,250 deliveries of new business jets valued at more than $250 billion expected through 2023. The Honeywell outlook reflects an approximate 3 to 4 percent increase in projected delivery value compared to last year's forecast.
In addition, Honeywell projects 2013 deliveries of approximately 600 to 625 new business jets, a single-digit decrease over levels reported in 2012.
"2014 industry deliveries are anticipated to be up modestly, reflecting recovery in supply-side constraints and some gains linked to the projected pace of global economic recovery," said Rob Wilson, president, Honeywell Business and General Aviation.