India sees strongest business jet fleet growth in Asia-Pacific, Honeywell report
In Asia-Pacific, India continues to expand through improved access models and supportive policy initiatives, while China remains focused on selective premium and fleet-renewal opportunities, says Honeywell Aerospace
- Oct 20, 2026,
- Updated Oct 20, 2026 2:14 PM IST
India is emerging as a growing market for private and business aviation as improved access models and supportive policies help expand the sector, according to Honeywell Aerospace's latest outlook released on Tuesday.
"In Asia-Pacific, India continues to expand through improved access models and supportive policy initiatives, while China remains focused on selective premium and fleet-renewal opportunities," the report said.
Also, India recorded the strongest net increase in business jets in the region, reaching approximately 295 aircraft by the end of 2025, supported by expanding wealth, airport infrastructure and GIFT City leasing initiatives.
The US aerospace company expects nearly 14,000 business aircraft deliveries globally over the next decade, with rising demand for private jets, charter services and shared aircraft ownership driving growth.
In its 35th annual Global Business Aviation Outlook, Honeywell forecast approximately 9,950 business jet deliveries and 4,200 turboprop deliveries between 2026 and 2035.
The company expects the global business aviation fleet to expand by around 29%, from approximately 39,400 aircraft in 2025 to nearly 51,000 by 2035. Total flight hours are projected to rise even faster, increasing 34% over the same period as operators make greater use of their aircraft.
Aircraft deliveries to cross $37 billion annually
Honeywell expects annual business aircraft deliveries to increase from around 1,280 in 2026 to more than 1,500 by 2035. The value of new aircraft deliveries is projected to exceed $37 billion annually by the end of the forecast period.
The latest delivery forecast is 4.4% higher than last year's projection.
“Over the next decade we’re predicting one of the most robust periods ever for business aviation, as corporations, private individuals, charter customers and fractional shareholders are all creating a surge in demand,” said Linnea Whisler, president, Commercial Original Equipment, Honeywell Aerospace.
Whisler said aircraft owners and operators were flying more, ordering new jets, expanding fleets and investing in new technologies.
Honeywell said fleet expansion would increasingly be driven by additional aircraft purchases rather than replacement of older aircraft. Higher deliveries, combined with low retirement rates, are expected to accelerate fleet growth and increase demand for maintenance, upgrades and support services.
Midsize jets to lead fleet expansion
Midsize jets are expected to record the fastest growth among business aircraft categories, with their fleet projected to expand 40% over the next decade.
Honeywell said operators were increasingly looking for aircraft that offered longer-range capabilities, cabin comfort and lower acquisition and operating costs than the largest business jets.
Large-cabin aircraft will continue to account for the biggest share of industry value.
By 2035, Honeywell expects the global business aviation fleet to comprise approximately 18,000 turboprops, 15,000 light jets, 8,200 midsize jets and 9,700 large-cabin aircraft.
For the first time, Honeywell has expanded the scope of its annual forecast to include additional segments of business aviation, including turboprops and personal jets.
Charter and shared ownership drive flying hours
The report identifies charter operators, managed fleets and fractional ownership as important drivers of future demand.
While private owners continue to account for most aircraft ownership globally, charter and fractional operators generally fly their aircraft more frequently, particularly in the midsize and large-cabin segments.
Honeywell said these business models were helping improve aircraft utilisation and broaden access to private aviation for customers who did not want to own an entire aircraft.
As a result, global flight hours are expected to increase faster than fleet sizes over the next decade.
The near-term outlook also remains positive. Nine out of 10 operators surveyed expect to fly the same or more hours in 2027 compared with 2026.
Nearly one-third of operators expect to increase flight activity next year, a four-percentage-point rise in positive sentiment compared with the corresponding survey finding for 2026.
Business jet flight hours have increased 4% year-to-date compared with the same period last year. Midsize jets have recorded 7% growth, while large-cabin jets have registered a 5% increase.
India is emerging as a growing market for private and business aviation as improved access models and supportive policies help expand the sector, according to Honeywell Aerospace's latest outlook released on Tuesday.
"In Asia-Pacific, India continues to expand through improved access models and supportive policy initiatives, while China remains focused on selective premium and fleet-renewal opportunities," the report said.
Also, India recorded the strongest net increase in business jets in the region, reaching approximately 295 aircraft by the end of 2025, supported by expanding wealth, airport infrastructure and GIFT City leasing initiatives.
The US aerospace company expects nearly 14,000 business aircraft deliveries globally over the next decade, with rising demand for private jets, charter services and shared aircraft ownership driving growth.
In its 35th annual Global Business Aviation Outlook, Honeywell forecast approximately 9,950 business jet deliveries and 4,200 turboprop deliveries between 2026 and 2035.
The company expects the global business aviation fleet to expand by around 29%, from approximately 39,400 aircraft in 2025 to nearly 51,000 by 2035. Total flight hours are projected to rise even faster, increasing 34% over the same period as operators make greater use of their aircraft.
Aircraft deliveries to cross $37 billion annually
Honeywell expects annual business aircraft deliveries to increase from around 1,280 in 2026 to more than 1,500 by 2035. The value of new aircraft deliveries is projected to exceed $37 billion annually by the end of the forecast period.
The latest delivery forecast is 4.4% higher than last year's projection.
“Over the next decade we’re predicting one of the most robust periods ever for business aviation, as corporations, private individuals, charter customers and fractional shareholders are all creating a surge in demand,” said Linnea Whisler, president, Commercial Original Equipment, Honeywell Aerospace.
Whisler said aircraft owners and operators were flying more, ordering new jets, expanding fleets and investing in new technologies.
Honeywell said fleet expansion would increasingly be driven by additional aircraft purchases rather than replacement of older aircraft. Higher deliveries, combined with low retirement rates, are expected to accelerate fleet growth and increase demand for maintenance, upgrades and support services.
Midsize jets to lead fleet expansion
Midsize jets are expected to record the fastest growth among business aircraft categories, with their fleet projected to expand 40% over the next decade.
Honeywell said operators were increasingly looking for aircraft that offered longer-range capabilities, cabin comfort and lower acquisition and operating costs than the largest business jets.
Large-cabin aircraft will continue to account for the biggest share of industry value.
By 2035, Honeywell expects the global business aviation fleet to comprise approximately 18,000 turboprops, 15,000 light jets, 8,200 midsize jets and 9,700 large-cabin aircraft.
For the first time, Honeywell has expanded the scope of its annual forecast to include additional segments of business aviation, including turboprops and personal jets.
Charter and shared ownership drive flying hours
The report identifies charter operators, managed fleets and fractional ownership as important drivers of future demand.
While private owners continue to account for most aircraft ownership globally, charter and fractional operators generally fly their aircraft more frequently, particularly in the midsize and large-cabin segments.
Honeywell said these business models were helping improve aircraft utilisation and broaden access to private aviation for customers who did not want to own an entire aircraft.
As a result, global flight hours are expected to increase faster than fleet sizes over the next decade.
The near-term outlook also remains positive. Nine out of 10 operators surveyed expect to fly the same or more hours in 2027 compared with 2026.
Nearly one-third of operators expect to increase flight activity next year, a four-percentage-point rise in positive sentiment compared with the corresponding survey finding for 2026.
Business jet flight hours have increased 4% year-to-date compared with the same period last year. Midsize jets have recorded 7% growth, while large-cabin jets have registered a 5% increase.