Honeywell forecasts growth in corporate jet sales
* Sees shift in demand toward larger, longer-range aircraft
* North America represents smaller slice of demand
* Sees value of worldwide deliveries up 9 pct in 2012
By Scott Malone
Oct 28 (Reuters) - Demand for corporate jets has begun to recover from a post-recession low and is likely to rise over the next decade, with $250 billion worth of new aircraft delivered by 2022, according to a forecast by Honeywell International Inc .
The forecast projects that companies will increasingly choose larger aircraft capable of traveling longer distances, driven by the desire to use private jets in international travel and to transport larger teams of people, Honeywell said in its forecast, released on Sunday.
The total value of corporate jets delivered worldwide in 2012 will rise 9 percent from 2011, said the diversified U.S. manufacturer, which makes engines used in the aircraft. Major makers of business aircraft include Textron Inc's Cessna, General Dynamics Corp's Gulfstream, Canada's Bombardier Inc, and Brazil's Embraer SA.
Honeywell expects similar growth levels and demand patterns in 2013.
"It's all about range. To have more range you have more fuel, more fuel requires bigger wings, bigger wings mean bigger fuselage," said Rob Wilson, president of Honeywell's business and general aviation operation. "So you will get a larger cabin with the higher range requirements. In addition, when you're going to be on an airplane for 12, 14 hours, you need a certain amount of volume to prevent you from going a little stir-crazy." Continued...