Honeywell Aerospace expects manufacturers to deliver nearly 10,000 new business jets through 2035 as rising wealth and growing demand for fractional ownership and charter flights bring more customers into private aviation.
The company’s annual Global Business Aviation Outlook, presented ahead of NBAA-BACE in Las Vegas on October 19, 2026, forecasts deliveries of 9,950 business jets and 4,200 turboprops from 2026 through 2035, worth a combined $343 billion.
Honeywell expanded this year’s forecast to include personal jets, turboprops and business airliners. Comparing the same aircraft categories covered last year, its delivery forecast rose 4.4%.
Kevin Schwab, Honeywell’s Strategic Planning Manager, said wealth creation in the United States, particularly from AI-related investments, is helping bring new buyers into the market. Many customers are getting their first taste of private aviation through fractional ownership and charter, giving them access to larger aircraft without buying a whole jet.
Honeywell expects the worldwide business aircraft fleet to reach about 51,000 by 2035, up 29% from 39,400 in 2025. Annual flight hours are forecast to rise even faster, increasing 34% to 12.2 million as average aircraft utilization increases.
“Business aircraft owners and operators are flying more, ordering new business jets, expanding their fleets and investing in innovations that make flying safer, more efficient and more comfortable,” Honeywell Aerospace President and CEO Jim Currier said in the report.
Fractional operators are expected to be a major source of that additional flying. Honeywell forecasts their flight hours will nearly double over the decade, increasing 96%.
Aircraft in fractional fleets already fly about 850 hours a year on average, compared with about 400 hours for charter aircraft and 200 for privately operated aircraft.
Some customers are buying fractional shares to supplement aircraft they already own. Among the nonfractional operators surveyed, 14% also owned fractional shares and another 16% were considering them. Half of those considering shares wanted additional flying capacity.
The strongest fleet growth is expected among midsize and large business jets, whose numbers are forecast to increase 40% and 36%, respectively, by 2035. Large jets alone would account for 61% of the value of new aircraft deliveries over the forecast period.
Aircraft performance remains buyers’ leading concern, with 85% of survey respondents ranking it among their three most important purchase considerations. But cabin comfort is gaining ground. Cabin experience tied operating and maintenance costs for second place, each cited by 55% of respondents.
“That’s not to say cost isn’t important, but it means that cabin comfort has come up in the buying decisions,” Schwab said.
Demand is also keeping pressure on the used aircraft market. Honeywell said some operators are buying preowned aircraft to meet immediate needs while waiting for new deliveries. Only about 6% to 7% of the existing fleet is listed for sale, leaving buyers with fewer choices.
For 2027, 32% of surveyed operators expect to fly more than this year, while 57% anticipate little change and 11% expect to fly less.
Business jets have been flying more in 2026, with activity up 4% so far this year. Midsize jets led with a 7% increase, followed by large jets at 5%. Turboprop flying fell 2%, bringing the overall increase in business aviation activity to about 2%.