The “One Big Beautiful Bill Act” would include money to improve air traffic control technology, which the CEO is publicly supporting. (Credit: United States Department of Transportation)
demand for private jet Growing, Honeywell forecasts a record-setting number of new business jet deliveries over the next decade despite macroeconomic and geopolitical uncertainty.
Honeywell, whose major divisions are Industrial Technologies and Aerospace, recently published its 34th annual Global Business Aviation Outlook, It estimates there will be 8,500 new business jet deliveries worth $283 billion over the next 10 years with an average annual growth rate of 3%, the highest in the 34-year history of its aviation vision.
Heath Patrick, president of Americas aftermarket at Honeywell Aerospace Technologies, credited the recent combination economic development, Growing demand for fractional ownership and a steady cadence of new aircraft development and technology upgrades creating “record levels of demand in business aviation”.
Private jets are parked at Friedman Memorial Airport during the Allen & Company Sun Valley Conference on July 10, 2025 in Sun Valley, Idaho. (Kevin Dietsch/Getty Images/Getty Images)
“Operators are increasing their utilization rates and, in turn, manufacturers are ramping up production to keep pace with rising demand,” Patrick said. He said the corporation expects these record-setting levels of delivery and usage to continue over the next decade.
Today, 20% of global operators surveyed in the report said they have at least one aircraft on firm order, up from 17% a year ago.
Use of corporate jets for personal use by executives on the rise: Report
Private jets are seen at Friedman Memorial Airport ahead of the Allen & Company Sun Valley Conference on July 7, 2025 in Sun Valley, Idaho. (Kevin Dietsch/Getty Images/Getty Images)
One reason there has been such an increase in purchasing activity in particular is the return of 100% bonus depreciation following the signing of the One Big Beautiful Bill Act earlier this year. tax rules Allows businesses to write off the entire cost of large expenses such as airplanes in the year they are used instead of gradually writing them off over several years.
anchor | Security | Last | Change | Change % |
---|---|---|---|---|
Honorable | Honeywell International Inc. | 202.96 | -0.21 |
-0.10% |
That policy change quickly took effect.
Tia Minzoni, CEO of Texas-based Stella Jets, said her company had a “flood” of customers making new purchases after tax rules were reinstated, following a gradual phase-down after 2022. The 2017 Tax Cuts and Jobs Act lets businesses immediately deduct 100% of the cost of qualified assets — including new and used business aircraft — placed in service after September 27, 2017, and before January 1. 2023.
Minzoni told Fox Business that the company has seen steady growth in demand for charters in the second and third quarters, and expects that demand to continue.
Airlines warn government shutdown could disrupt flights, impact aviation system
“Overall, we are seeing an uptick in demand. It’s a good year to be a part of private aviation,” he said.
However, Sanford Michelman, founder of private aviation company Flyhouse, doesn’t think Honeywell’s forecast paints a complete picture of how strong demand is.
A Bombardier Learjet 40 XR aircraft stands at Million Air in White Plains, New York. (Paul Taggart/Bloomberg via Getty Images/Getty Images)
Michelman said the company believes new deliveries will exceed estimates in the report, “based on the increased charter demand we are seeing.”
Get Fox Business by clicking here
Michelman said Flyhouse has a broad lens on charter demand because it intersects with multiple verticals in the category and has access to deep amounts of data to predict market needs.
In the past month alone, Michelman said the company has seen demand for its charters double.