(Reuters) - Honeywell International Inc expects to deliver 4,000 helicopters for civilian use through 2023, down from 4,200 it forecast last year, on the back of a slowing global economy, the U.S. industrial conglomerate said on Monday.
“An inconsistent economic outlook for international markets has resulted in lower purchase plans worldwide from fleet managers when compared with a year ago,” said Heath Patrick, president, Americas aftermarket, Honeywell Aerospace.
Honeywell said while the demand for helicopters was seen improving in North America, a slowdown is expected in Europe, Asia and Latin America.
Purchase plans have risen by five percentage points from a year earlier in North America, which is home to more than 40 percent of the world’s helicopter fleet, while declining 26 percentage points in Latin America, seven points in Europe and five points in Asia.
New helicopter purchase plans were stable in China and about 21 percent of the country’s fleet would be replaced or expanded over the next five years, the company said.
Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta
Our Standards: The Thomson Reuters Trust Principles.