21% of the purchase plans for new business jets in the next decade will be finalised by 2017-end, according to Honeywell
The global economic downturn of 2008 may have slowed down orders for private jets a tad but the industry is far from being on a wing and a prayer. And the future looks promising too: Multinational conglomerate Honeywell forecasts that the business aviation market (largely the private jet industry, which does not include the commercial aviation market) will see deliveries of up to 8,600 private planes, worth $255 billion, over the next decade. This is where the industry stands in 2016, compared to 1991.
(This story appears in the 09 December, 2016 issue of Forbes India. To visit our Archives, click here.)