PHOENIX, ARIZONA— Honeywell has released its 34th annual Global Business Aviation Outlook, projecting a record 8,500 new business jet deliveries over the next decade, valued at $283 billion.
The report, based on surveys of hundreds of operators and proprietary modeling, indicates steady growth driven by fractional ownership demand, economic incentives, and continued aircraft innovation.
New Business Jets Forcecast
Honeywell’s latest forecast predicts business jet deliveries will grow at an average annual rate of 3% through 2035, marking the strongest projection in the report’s 34-year history. Despite global economic uncertainty and geopolitical tension, demand for new jets remains firm.
According to Heath Patrick, President of Americas Aftermarket at Honeywell Aerospace Technologies, strong economic growth, expanding fractional ownership models, and ongoing aircraft upgrades are fueling record industry demand.
Manufacturers are responding by ramping up production to match operator needs, while fleet utilization continues to rise.
Key data points from the 2025 Honeywell Global Business Aviation Outlook include:
- 5% increase in new jet deliveries is projected for 2026 compared to 2025.
- 91% of operators plan to fly the same or more in 2026.
- 20% of global operators have at least one aircraft on firm order.
- Performance remains the top purchase driver for 89% of respondents, while cost ranks second at 56%.
- Fractional ownership demand continues to lead fleet expansion, with midsize and super midsize jets dominating the category.
Fractional Ownership Fuels Fleet Growth
Fractional fleets have expanded by over 65% since 2019, now totaling around 1,300 aircraft worldwide. The reinstatement of 100% bonus depreciation under the One Big Beautiful Bill Act (OBBBA) has further boosted purchase incentives, allowing operators to deduct a large portion of aircraft costs in the year of acquisition.
Twelve percent of owners of wholly owned aircraft already hold fractional shares, while an additional 15% are considering such purchases. About half cite fleet capacity expansion as the main motivator, while 30% use fractional shares to optimize operations.
Light, midsize, and super midsize jets make up roughly 80% of fractional fleets, underscoring the segment’s preference for flexible, high-performance aircraft suited to frequent regional and intercontinental missions.
Flight Activity Shows Consistent Growth
Business jet flight hours rose 3% year-over-year in 2025, following a period of flat growth between 2023 and 2024. This uptick is largely attributed to private operators and fractional programs, while corporate flight departments remain more conservative in aircraft utilization.
Around 28% of surveyed operators plan to fly more in 2026, and 64% plan to maintain their current activity levels.
Charter flight demand remains well above pre-pandemic levels, signaling continued preference for flexible private travel over commercial alternatives.
Regional Insights: North America Leads Deliveries
North America (70% of global deliveries): The U.S. market remains dominant, supported by regulatory incentives and steady economic activity. About 17% of North American operators have aircraft on firm order, with 90% expecting stable or increased flight hours.
Europe (14% of global deliveries): European operators show higher-than-average purchase intent, with 29% reporting firm orders. Flight sentiment remains optimistic, mirroring global expectations.
Latin America (7% of global deliveries): 19% of operators report firm orders, with one-third expecting higher flight activity in 2026.
Asia-Pacific and the Middle East & Africa (8% combined): These regions maintain steady order volumes, with the Middle East showing growth potential due to evolving regulations and airport infrastructure improvements.
When choosing aircraft, range, payload, and field performance are key decision factors. Buyers of new aircraft value customer support, response times, and advanced onboard technology—such as fly-by-wire systems, improved connectivity, and enhanced safety features—more than buyers of pre-owned aircraft.
Sustainability and Future Priorities
Honeywell’s sustainability analysis shows 81% of operators view new fuel-efficient aircraft and engines as critical to meeting environmental goals. 61% support the use of Sustainable Aviation Fuel (SAF), though cost and limited availability remain barriers.
Operators are pursuing several strategies to cut emissions:
- 60% acquiring more fuel-efficient jets.
- 56% using SAF when possible.
- 31% flying at more efficient cruise speeds.
Methodology and Industry Impact
Honeywell’s projections combine macroeconomic analysis, manufacturer production data, expert consultation, and industry databases such as Cirium and WINGX. Surveys covered 312 operators representing over 1,100 aircraft, reflecting diverse global operations.
The insights help Honeywell shape its product strategy, from propulsion and safety systems to connectivity and sustainability solutions.
The report remains a key reference for manufacturers, operators, and investors assessing future market potential.
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