Honeywell Aerospace’s annual aviation report is always eagerly anticipated. This year, experts predicted strong growth throughout the next decade.
Honeywell predicts that 8,500 new business jets with a value of $283 billion will be delivered over the next 10 years. That’s the highest value cited in the report’s 34-year history. Read it here.
We know there’s a strong demand for business jets. Our customers remind us of that every day. It’s wonderful to see that on-the-ground opinion replicated in a formal report from Honeywell.
Reasons for Projected Growth
Honeywell says growth stems from several factors, including changes in tax structure, increased acceptance of fractional ownership, improvements to technology, and more.
100% Bonus Depreciation
Recent changes in American tax law allow investors to deduct the entire purchase price of an aircraft during its first year of ownership. Gone are the days of tracking costs and hoping to apply them for years. Now, owners can get the whole benefit almost immediately.
This shift has pushed some investors from the consideration to the action stage. It’s an especially effective prompt for those looking to optimize their taxes this year.
Changes in the tax law are a huge boon to the global aircraft economy. There’s never been a better time to invest in a private aircraft.
Increased Demand for Fractional Ownership
Fractional aircraft ownership allows several investors to split the costs associated with buying and maintaining a jet. Honeywell analysts say fractional fleets have grown more than 65% since 2019, and they’re expected to expand yet further.
Fractional fleets typically include light to midsize jets, which are perfect for shorter trips involving few passengers. Fractional ownership allows more people to take advantage of the convenience of this kind of private travel.
Improvements to Technology & Development
Honeywell found that new buyers consider technological advancements more than previous buyers ever did. They’re looking for improvements in flight controls and connectivity, as well as advanced safety features.
Buyers hoping for the best of today’s technology are required to purchase new aircraft, as used models may not have the upgrades they’re hoping for. That need for the new is spurring the growth of the industry as a whole.
The Role of Charters
Jet charters allow people to experience private flight without the expense of purchasing an aircraft. Charters are incredibly popular, and Honeywell expects they will continue to play a role in the growth of the industry.
Projections Could Be Higher
Honeywell is a respected voice in the aviation industry, but it’s not the only one. While this report predicts strong growth throughout the next decade, the real numbers could be even higher.
As more investors purchase aircraft, private travel could become even more normalized. Fractional ownership and charters allow people of almost all income levels to experiment, and they may also choose to purchase a jet in time. We predict a strong level of growth for this economic sector.
Get Started with Element Aviation
At Element Aviation, we can help you understand the many ways you can get involved with private aircraft travel. Whether you’d like to explore charters, purchase a new aircraft, or sell an older plane, we can help.
We can ensure you get the best deal for your hard-earned money, with fewer hassles and concerns. Just contact us to get started.
Fact Checked & Reviewed By:
Kevin White worked as an executive sales director for a leading aircraft acquisitions company for many years. There, he developed an intuitive understanding of what elite aircraft buyers and sellers expect. He also developed close ties with some of the world’s most prominent aircraft brokers. His extensive knowledge of the market ensures smooth aircraft transactions.
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Last modified 22 Dec 2025