Business jet deliveries will fall by 3.5% in the next 10 years and decrease by 2.3% in terms of overall value compared to last year’s predictions, according to the Global Business Aviation Network produced by Honeywell Aerospace. The firm estimates that the next decade will see 8,300 aircraft delivered at a current market value of USD249 billion.

President for The Americas Ben Briggs said: “Declining used aircraft prices, continued low commodities prices, and economic and political uncertainties in many business jet markets remain as near-term concerns for new jet purchases.”

Strikingly, the firm estimates that deliveries for 2017 will total between 620 and 640 airframes – the lowest since 2004. However the report did point out that this should be the last year of such declining figures. This is largely due to the introduction of new models over the next two years.