Demand is expected to grow internationally, with the North American market portion declining to about 53%. That compares with the 2011 forecast of a 55% share.

In the near term, more operators in the “BRIC” countries (Brazil, Russia, India and China) expect to buy their aircraft sooner. The number of those operators expressing plans to purchase new aircraft decreased from 50% to 46%, but more than 40% plan to purchase in the next two years.

Purchase plans in the Asia Pacific region have cooled somewhat, with 34% of survey respondents reporting intentions to buy. This is down from 45% in the previous survey. But Honeywell says the region is still a strong growth area. “It is critical to understand that demand from this part of the world remains well above the world average, and we do not believe the 2012 results represent in any way a change in the region’s fundamental underlying growth drivers,” Wilson says.

Latin America represents another growth area, with 39% of survey respondents expressing plans to buy aircraft and nearly 70% of those purchases expected to take place in the next three years. Honeywell says Latin America now accounts for 18% of aircraft demand, up significantly from 13% in the 2011 forecast.

Europe’s demand share also grew slightly to18%, but only from demand in Russia and other countries in Eastern Europe. Demand for new aircraft in Western Europe has slowed.

But at the same time, Wilson notes used jet purchase expectations in Europe improved. This is a sign that there are a number of good aircraft still on the market, albeit at depressed prices, he says.