Global Demand for 8,500 New Business Jets Valued at $283 Billion by 2035

PHOENIX, ARIZONA— Honeywell has unveiled its 34th annual Global Business Aviation Outlook, predicting an impressive 8,500 new business jet deliveries over the next decade, estimated at a value of $283 billion.

This report draws on surveys from numerous operators coupled with proprietary modeling, indicating sustained growth propelled by fractional ownership demand, economic incentives, and ongoing aircraft advancements.

New Business Jets Forecast

According to Honeywell’s forecast, business jet deliveries are anticipated to rise at an average annual rate of 3% through 2035, marking a significant milestone in the report’s 34-year history. Despite uncertainties in the global economy and geopolitical landscape, the appetite for new jets remains robust.

Heath Patrick, President of Americas Aftermarket at Honeywell Aerospace Technologies, attributes the robust demand to strong economic growth, innovative fractional ownership models, and ongoing enhancements to aircraft technology.

Manufacturers are increasing output to align with operators’ demands, while fleet utilization continues on an upward trend.

Highlighted statistics from the 2025 Honeywell Global Business Aviation Outlook include:

• 5% growth in new jet deliveries is anticipated for 2026 compared to 2025.
• 91% of operators intend to maintain or increase flight activity in 2026.
• 20% of global operators have at least one aircraft on firm order.
• Performance is the leading purchase driver for 89% of respondents, followed closely by cost at 56%.
• Demand for fractional ownership is propelling fleet expansion, particularly in the midsize and super midsize jet categories.

Fractional Ownership Fuels Fleet Growth

Since 2019, fractional fleets have seen over a 65% increase, now totaling approximately 1,300 aircraft worldwide. The reinstatement of 100% bonus depreciation under the One Big Beautiful Bill Act (OBBBA) has elevated purchase incentives, enabling operators to deduct substantial aircraft costs within the acquisition year.

Close to 12% of owners of fully owned aircraft possess fractional shares, while an additional 15% are contemplating similar purchases. Half of these individuals cite fleet capacity expansion as a major motivation, while 30% utilize fractional shares to enhance operational efficiency.

Light, midsize, and super midsize jets constitute around 80% of fractional fleets, emphasizing the segment’s preference for adaptable, high-performance aircraft well-suited for frequent regional and intercontinental travel.

Flight Activity Shows Consistent Growth

Business jet flight hours increased 3% year-over-year in 2025, following a period of stagnation between 2023 and 2024. This growth can largely be attributed to private operators and fractional programs, whereas corporate flight departments have approached aircraft utilization with more caution.

Approximately 28% of surveyed operators plan to ramp up flights in 2026, with 64% intending to maintain their current activity levels.

Demand for charter flights remains significantly elevated compared to pre-pandemic figures, reflecting a growing preference for flexible private travel options over commercial alternatives.

Regional Insights: North America Leads Deliveries

North America (70% of global deliveries): The U.S. market remains at the forefront, buoyed by regulatory incentives and consistent economic activity. Approximately 17% of North American operators have aircraft on firm order, and around 90% anticipate stable or increased flight hours.

Europe (14% of global deliveries): Operators in Europe show an above-average intention to purchase, with 29% reporting firm orders. Flight sentiment in the region remains optimistic, aligning with global expectations.

Latin America (7% of global deliveries): About 19% of operators indicate having firm orders, with roughly one-third expecting heightened flight activities in 2026.

Asia-Pacific and the Middle East & Africa (8% combined): These areas show stable order volumes, with the Middle East demonstrating growth potential driven by changes in regulations and infrastructure enhancements.

When selecting aircraft, factors like range, payload, and field performance are crucial. New aircraft buyers prioritize customer support, response times, and advanced onboard technology, including fly-by-wire systems, improved connectivity, and enhanced safety features, more than those looking for pre-owned aircraft.

Sustainability and Future Priorities

In its sustainability analysis, Honeywell discovered that 81% of operators consider acquiring new fuel-efficient aircraft and engines essential for achieving environmental targets. Furthermore, 61% are advocates for utilizing Sustainable Aviation Fuel (SAF), despite cost and availability challenges.

Operators are adopting various measures to lessen emissions:

• 60% are acquiring more fuel-efficient jets.
• 56% are using SAF whenever possible.
• 31% are committed to flying at more efficient cruise speeds.

Methodology and Industry Impact

The forecasts from Honeywell integrate macroeconomic analysis, data from manufacturers, expert consultations, and industry databases like Cirium and WINGX. Their surveys included 312 operators representing over 1,100 aircraft, capturing a broad spectrum of global operations.

This data supports Honeywell in shaping its product strategy, focusing on propulsion, safety systems, connectivity, and sustainability solutions.

The report serves as a vital reference for manufacturers, operators, and investors looking to assess the market’s future potential.