A logo of Honeywell is pictured on their booth during the European Business Aviation Convention & Exhibition in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse/File PhotoThe forecast is consistent with Honeywell's rolling 10-year projection provided last year, but the value of jets expected to be delivered has increased by $4 billion to $278 billion, the company said in its annual Global Business Aviation Outlook.
Global flight activity, however, is expected to decrease by 4% this year compared with 2022 on factors such as inflation and the resumption of commercial air service on key routes. The flight activity is anticipated to stabilize in 2024 and grow in 2025, according to Honeywell. The revival is set in motion by an accelerated surge in initial public offerings, rising corporate profits and easing inflation rates, its forecast showed.
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