Business jets are in high demand according to the 33rd annual Global Business Aviation Outlook recently published by Honeywell, a company that specializes in aerospace and building automation. New data shows that up to 8,500 new business jets worth more than $280 billion will be delivered over the next decade. 

"The business aviation industry is in a prolonged period of healthy growth, and we don't see that positive trend changing any time soon," said Heath Patrick, president of Americas Aftermarket at Honeywell Aerospace Technologies. 

New business jet deliveries are expected to climb by 12 percent compared with 2024. Additionally, fleet additions remain consistent with 2024 results, remaining at around 3 percent of the fleet, according to the report. 

Ninety percent of respondents said they plan to fly more in 2025. As travel continues to reach pre-pandemic levels, experts predict that overall, large jets are expected to account for about two-thirds of all expenditures of new business jets in the next five years, consistent with last year's results.

Meanwhile, 82 percent of respondents considered “performance" among their top three most important criteria when purchasing their next aircraft, followed by cost at 60 percent, the report said. 

In a statement, Honeywell said demand remains robust for new aircraft as business jet manufacturer backlogs stay strong, and production volumes ramp up to accommodate that higher demand.

Regionally, North America will see 66 percent of the five-year new jet deliveries, which is consistent with historical demand for the region. 

In Europe, operators will comprise 13 percent of the five-year new jet deliveries, which is one percentage point below last year's share and follows a similar trend over the past few years. In Latin America, operators will account for 10 percent of the five-year new jet deliveries, the report said.

The report also found that European operators show the most proactive behavior in lowering their carbon footprint, with North American operators lagging slightly behind. 

New data shows that 85 percent of respondents believe the acquisition of new, more fuel-efficient aircraft is the most effective method to reduce environmental impact.

"Business aviation continues to see more users and, as a result, manufacturers are ramping up production to keep pace with growing demand, a trend we expect to continue for the foreseeable future,” said Patrick. “Despite a mixed macroeconomic environment and challenging geopolitical circumstances, operators are optimistic about their flight activity increasing in 2025 and beyond."