Honeywell sees steady demand for business jets over the next decade

Global demand for new business jets is expected to stay strong over the next decade, Honeywell said on Sunday, as the engine maker projected deliveries of about 8,500 new planes through 2033. The forecast is consistent with Honeywell's rolling 10-year projection provided last year, but the value of jets expected to be delivered has increased by $4 billion to $278 billion, the company said in its annual Global Business Aviation Outlook. Private aviation witnessed a surge in newcomers, both in users and buyers, after the COVID-19 pandemic lifted demand for private flying as the wealthy took control of their travel.