Around 400 business jets are bound for European-based customers over the next five years to meet the strong near-term demand for new aircraft, according to Honeywell's latest survey of European business jet operators.
The manufacturer says: "Purchase expectations in Europe for traditional business aircraft [maximum take-off weight less than 45,000kg/100,000lb] have remained at solid levels for the last five years, with extremely high levels reported two years ago. Results reflect the state of economic strength, operator optimism, regulatory developments and strong interest in new models, which accounted for nearly 45% of all jets mentioned for purchase during the next five years."
The survey, part of Honeywell's annual worldwide market forecast, which canvassed over 130 chief pilots and flight department managers of companies operating 330 aircraft in Europe, also predicts European business jet operators will expand or replace 15% of their fleet over the next five years.
Honeywell says most mentioned reasons for buying new jets are requirements for improved cabin size and aircraft age, although increased range, improved performance and regulatory issues were also cited as key considerations.
Honeywell says the anticipated age at which new aircraft will be replaced by European operators increased by one year, compared with last year's projection, reflecting a softening in European purchase expectations. Deliveries in Europe are set to remain above the 80 to 100 aircraft level for several more years, with European operators taking delivery of around 12% of all new business jets sold in the next few years, an increase of 1% over the share projected a year ago.
Honeywell concedes: "The vigorous development and introduction of new jet models across business aviation, which represent higher levels of customer value as well as the improving regulatory business environment in Europe, are key factors fuelling business jet demand." It adds: "European businesses continue to expand and tailor their use of these aircraft, both in the short term and over the next 10 years, as they realise the value of aircraft, not only in their daily operations, but as a tool to make businesses more productive."
Honeywell says a growing contribution to the European outlook comes from fractional ownership, for which the fleet, by 2011, could comprise between 9% and 14% of active business aircraft in Europe.
Source: Flight International
