Jet aviation business jets inc

LAS VEGAS , Oct. 8, 2017 /PRNewswire/ -- The business jet aviation industry is likely facing a modest pace for near-term orders due to an uncertain economic and political environment along with a very competitive used aircraft market, per the 26th annual Global Business Aviation Outlook released today by Honeywell (NYSE: HON).

The Global Business Aviation Outlook forecasts up to 8,300 new business jet deliveries worth $249 billion from 2017 to 2027, down 2-3 percentage points from the 2016 10-year forecast.

"Declining used aircraft prices, continued low commodities prices, and economic and political uncertainties in many business jet markets remain as near-term concerns for new jet purchases, leading to a modest growth in 2018," said Ben Driggs , president, Americas Aftermarket, Honeywell Aerospace.

"That said, there are several new and exciting aircraft models coming to market, which will drive solid growth in new business jet purchases in the midterm and long term."

Brazil , Russia , India , China (BRIC) – Significant decline in Chinese and Russian purchase plans compared with last year drive lower BRIC results.