The One Big Beautiful Bill Act will include funds to overhaul air traffic control technology, which CEOs publicly support. (Credit: United States Department of Transportation)
Demand for private jets is increasing, with Honeywell expecting record numbers of new business jet deliveries over the next decade, despite continued macroeconomic and geopolitical uncertainty.
Honeywell, whose most visible divisions are industrial technologies and aerospace, recently published its 34th yearbook Prospects for global business aviation, The company estimates that 8,500 new business jets worth $283 billion will be delivered over the next decade, the highest total in the 34-year history of its aviation prospects, with an average annual growth rate of 3%.
Heath Patrick, president of U.S. aftermarket at Honeywell Aerospace Technologies, credited the combination of recent economic growth, increasing demand for fractional ownership and a steady cadence of new aircraft development and technology upgrades for creating “record levels of demand in business aviation.”
Private jets parked at the Friedman Memorial Airport during the Allen & Company Sun Valley Conference on July 10, 2025 in Sun Valley, Idaho. (Kevin Dietsch/Getty Images/Getty Images)
FAA PROPOSES NATIONAL FLIGHT DISRUPTIONS AS SHORTAGE OF AIR TRAFFIC CONTROLLER REACH MAJOR AIRPORTS
“Operators are increasing their usage rates and in turn manufacturers continue to ramp up production to keep pace with growing demand,” Patrick said, adding that the company expects these record levels of deliveries and usage to continue over the next decade.
Today, 20% of global operators surveyed in the report say they have at least one aircraft on order, up from 17% a year ago.
USE OF CORPORATE JETS FOR PERSONAL USE BY EXECUTIVES INCREASES: REPORT
Private jets are seen on the tarmac at Friedman Memorial Airport prior to the Allen & Company Sun Valley Conference on July 7, 2025 in Sun Valley, Idaho. (Kevin Dietsch/Getty Images/Getty Images)
One reason in particular that there has been such a surge in purchasing activity is due to the return of 100% bonus depreciation following the signing of the One Big Beautiful Bill Act earlier this year. The tax rule allows companies to write off the full cost of major expenses, such as an airplane, immediately in the year they are put into service, rather than slowly over several years.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HON | HONEYWELL INTERNATIONAL INC. | 202.96 | -0.21 |
-0.10% |
That policy change quickly had an impact.
Tia Minzoni, CEO of Texas-based Stella Jets, said her company was “inundated” with customers looking to make new purchases after the tax rule was reinstated, following its phase-out after 2022. The Tax Cuts and Jobs Act of 2017 immediately let companies deduct 100% of the cost of eligible assets — including new and used business jets — put into service after September 27, 2017, and before January 1. 2023.
Airlines are warning that the government shutdown could disrupt flights and burden the aviation system
“Overall, we are seeing an increase in all demand. It is a good year to be in private aviation,” she added.
However, Sanford Michelman, founder of private aviation company FlyHouse, doesn’t think Honeywell’s forecast captures the full picture of how strong demand is.
A Bombardier Learjet 40 XR aircraft is parked at Million Air in White Plains, New York. (Paul Taggart/Bloomberg via Getty Images/Getty Images)
Michelman said the company believes new deliveries are even higher than forecast in the report, “based on the increasing demand for charters we are seeing.”
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Michelman said FlyHouse takes a broader view of charter demand because it crosses multiple verticals in the category and has access to a large amount of data to predict market needs.
In the past month alone, Michelman said the company has doubled demand for its charters.
