Honeywell projects the delivery of 8,500 new business jets valued at $283 billion over the next ten years, driven by fractional ownership and tax incentives.
Honeywell has released its 34th annual Global Business Aviation Outlook, predicting a significant rise in business jet deliveries over the next decade. The report forecasts that 8,500 new business jets will be delivered, with an estimated value of $283 billion. This marks the highest projection in the report’s history, with an average annual growth rate of 3%.
The report attributes the increased demand to several factors, including economic growth, a rise in fractional ownership, and ongoing aircraft development and technology upgrades. Despite complex macroeconomic and geopolitical conditions, demand for new aircraft remains strong.
Key findings from the report indicate that new business jet deliveries in 2026 are expected to be 5% higher than in 2025. Additionally, 91% of surveyed operators plan to maintain or increase their flight activity in 2026 compared to 2025. The report also notes that 20% of operators globally have at least one aircraft on firm order, with a higher percentage among Part 135 and equivalent operators, such as private jet charters.
Fractional ownership continues to drive industry growth, with midsize and super midsize jets being the preferred choices for these customers. The fractional fleet has expanded by over 65% since 2019, now comprising approximately 1,300 aircraft. The report highlights that 12% of operators of wholly owned business aircraft also own fractional shares, with an additional 15% considering future purchases.
The return of 100% bonus depreciation, as part of recent U.S. tax legislation, is expected to further stimulate business aircraft purchases. This federal tax incentive allows businesses to deduct a significant portion of the cost of certain assets, including business jets, in the year they are put into use.
Flight activity has shown strong year-over-year growth, with business jet flight hours up about 3% in 2025 compared to 2024. Private operators and fractional ownership companies primarily drive this growth, as demand for charter flights remains stable above pre-pandemic levels.
Regionally, North America is anticipated to receive approximately 70% of new jet deliveries over the next three years, with 17% of operators having aircraft on firm order. Europe is expected to account for 14% of deliveries, with a higher-than-average portion of operators having aircraft on order. Latin America will receive 7% of global deliveries, while Asia-Pacific and the Middle East & Africa regions are forecasted to receive 5% and 3%, respectively.
The report also highlights that aircraft performance and cost remain the primary purchase drivers for business aircraft buyers. Performance-related specifications, such as range, payload, and speed, are top considerations. Buyers of new aircraft prioritize customer support and technology advancements, including fly-by-wire controls and connectivity.
In terms of sustainability, 81% of operators believe developing more fuel-efficient aircraft and engines is effective in achieving environmental goals. The adoption of sustainable aviation fuel (SAF) is also seen as a key factor, although cost and availability remain challenges.
Honeywell’s forecast methodology includes macroeconomic analyses, industry data, and surveys of business aviation operators. The comprehensive approach provides insights into operator sentiments and industry trends, informing Honeywell’s product development and business strategies.
Click here to request a copy of Honeywell’s 2025 Global Business Aviation Outlook.
