Global demand for new business jets is expected to remain strong over the next decade, with a stable forecast for 8,500 deliveries worth $278 billion from 2024 to 2033, according to US aerospace company Honeywell.
The projection for the number of aircraft deliveries is in line with the rolling 10-year forecast in 2022, but the value of the aircraft has increased 10 per cent year on year from $274 billion, Honeywell said in its annual Global Business Aviation Outlook.
New jet deliveries and expenditure on private jet travel over the next decade are projected to grow by 2 per cent a year on average, in line with global long-term economic growth forecasts, according to Honeywell.
“Our industry is on the upswing. Operators are showing confidence with plans to expand their fleets at a faster rate than any time in the previous decade,” said Heath Patrick, president of the Americas aftermarket at Honeywell Aerospace.
Demand for business jet travel has boomed since the Covid-19 pandemic, when the ultra-rich sought more flexible travel schedules. However, climate activists have long taken issue with the high carbon emissions per person associated with private jets.
In 2023, global flight activity is expected to drop 4 per cent year on year due to higher inflation and the resumption of commercial flights on major routes, but this is still at least 10 per cent above 2019 levels, according to Honeywell.
The US company, which manufactures engines and counts among its customers private jet makers Bombardier and Gulfstream, expects flight activity to stabilise in 2024 and return to growth in 2025, driven by the return of initial public offerings, an improvement in corporate profits and easing inflation rates.
New private jet deliveries in 2024 are expected to be 10 per cent higher than in 2023, while expenditures are expected to increase by 13 per cent, Honeywell said.
New users in business aviation will increase demand by 500 aircraft and 6 per cent more flights over the next 10 years, Mr Patrick said.
“This, along with expected double-digit increases in turbofan deliveries in 2023 and 2024, shows our industry’s commitment to meeting growing demand,” he said.
Large, long-range and ultra-long-range aircraft models are expected to account for about 69 per cent of all expenditure on new business jets in the next five years, the Honeywell report showed.
In terms of regions, North America's private jet fleet will account for 64 per cent of the five-year forecast for new jet deliveries, the company said.
This year’s share is on par with last year’s and is probably driven by 90 per cent of North American respondents believing that the economy will at least remain the same, if not improve. This makes North America the most optimistic region in 2023.
The Middle East and Africa private jet fleet will account for 6 per cent of the five-year new jet deliveries. This is two percentage points above last year’s share.
The region accounted for the lion's share of growth in business aviation flights in 2023, according to Honeywell.
“There's also a positive shift towards sustainability as operators are keen to reduce carbon emissions,” said Mr Patrick.
About 60 per cent of private jet operators surveyed in this year's report are currently putting in place at least one method to reduce their carbon footprint, which is 10 percentage points above last year’s survey, Honeywell said.
The most frequently cited current method to reduce carbon footprint is “fewer private jet trips in favour of commercial flying”, followed by “slower cruising speeds”, the survey showed.
About 67 per cent of operators plan to either adopt or increase methods for more environmentally friendly operations in the future, and 40 per cent cite sustainable aviation fuels as the most common way to achieve this goal.
The survey asked the remaining 33 per cent what would compel them to adopt any methods to address sustainability in the future, with 65 per cent of these operators citing economic incentives such as tax benefits or operational cost savings, followed by 44 per cent who cited government regulations.
The specs: McLaren 600LT
Price, base: Dh914,000
Engine: 3.8-litre twin-turbo V8
Transmission: Seven-speed automatic
Power: 600hp @ 7,500rpm
Torque: 620Nm @ 5,500rpm
Fuel economy 12.2.L / 100km
Landfill in numbers
• Landfill gas is composed of 50 per cent methane
• Methane is 28 times more harmful than Co2 in terms of global warming
• 11 million total tonnes of waste are being generated annually in Abu Dhabi
• 18,000 tonnes per year of hazardous and medical waste is produced in Abu Dhabi emirate per year
• 20,000 litres of cooking oil produced in Abu Dhabi’s cafeterias and restaurants every day is thrown away
• 50 per cent of Abu Dhabi’s waste is from construction and demolition
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
THE CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
More from Rashmee Roshan Lall
Global state-owned investor ranking by size
|
1.
|
United States
|
|
2.
|
China
|
|
3.
|
UAE
|
|
4.
|
Japan
|
|
5
|
Norway
|
|
6.
|
Canada
|
|
7.
|
Singapore
|
|
8.
|
Australia
|
|
9.
|
Saudi Arabia
|
|
10.
|
South Korea
|
TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi
Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
