LAS VEGAS, Feb. 26, 2018 /PRNewswire/ -- With a better long-term global economic outlook this year, customers are holding firm in their intentions to invest in new helicopter purchases over the next five years. In its 20th annual "Turbine-Powered Civil Helicopter Purchase Outlook," Honeywell (NYSE: HON) forecasts 4,000 to 4,200 new civilian-use helicopters will be delivered from 2018 to 2022, aligning with the five-year forecast from 2017.
"In addition to better global economic conditions expected in the coming years, potential positive impacts of U.S. tax reform on new helicopter demand and lower volatility in oil and gas-related markets have helped fleet managers confirm what they told us last year," said Ben Driggs, president, Americas, Honeywell Aerospace. "With the expectation of stable purchase plans for new helicopters over the next five years, Honeywell is focused on bringing increased value to operators' current and new fleets by offering Connected Helicopter engine, Health and Usage Monitoring Systems, and avionics solutions that help boost a platform's efficiency and availability."
Key survey findings this year include:
North America: Purchase plans were stable in this year's survey with 13 percent of respondents saying they would either replace or expand their fleet with a new helicopter over the next five years, consistent with 2017. North America is home to more than 40 percent of the world helicopter fleet.
Europe: Compared with 2017 results, purchase plans were stable in this year's survey. Nearly 22 percent of respondents said they would either replace or expand their fleet with a new helicopter over the next five years.
Latin America: Results for 2018 show higher fleet replacement and growth expectations than 2017. Above the world average, the region's purchase plans increased by more than 12 percentage points from last year.
Middle East and Africa: This region had the lowest new purchase rate globally, with only 10 percent of respondents' fleets expected to get a new helicopter replacement or addition. Purchase plans were 12 percentage points lower compared with 2017 survey results.
Asia Pacific: Overall buying plans were up 1 percentage point when compared with 2017. More than 18 percent of respondents said they would either replace or expand their fleet with a new helicopter over the next five years.
The 2018 outlook presents a snapshot of the helicopter business at a given point in time and reflects the current business and political environment. This year's data comes from a survey of more than 1,000 chief pilots and flight department managers of companies operating 3,489 turbine and 334 piston helicopters worldwide. The survey excluded large fleet or "mega" operators, which were addressed separately. Input received from large oil and gas support and emergency medical service fleet operators is factored into the overall outlook in addition to the individual flight department responses. The survey detailed the types of aircraft operated and assessed specific plans to replace aircraft or add new helicopters to the fleet.
Honeywell Aerospace products and services are found on virtually every commercial, defense and space aircraft, and its turbochargers are used by nearly every automaker and truck manufacturer around the world. The Aerospace business unit develops innovative solutions for more fuel-efficient automobiles and airplanes, more direct and on-time flights, safer flying and runway traffic, along with aircraft engines, cockpit and cabin electronics, wireless connectivity services, logistics, and more. The business delivers safer, faster, and more efficient and comfortable transportation-related experiences worldwide. For more information, visit www.honeywell.com or follow us at @Honeywell_Aero and @Honeywell_Turbo.
Honeywell (www.honeywell.com) is a Fortune 100 software-industrial company that delivers industry specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally. Our technologies help everything from aircraft, cars, homes and buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.