【Jefferies-2025研报】商务航空峰会要点：本田飞机预计到2029年交付稳定.pdfVIP

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USA|AerospaceDefenseElectronicsJune12,2025

BizAvSummitTakes:HondaAircraftExpects

StableDeliveriesThrough2

WehostedAmodKelkar,ChiefCommercialOfficerofHondaAircraftat

ourJefferiesBusinessAviationSummit.Keytakes:1)Hondaexpects~25

deliveries/yrthrough2029butwillfallshyin2025duetosupplierconstraints;

2)Hondasover-wingenginedesignprovidessuperioraerodynamicswith

respecttoairflow,lift,andengineusage;3)theEchelonisexpectedtobe

theonlytranscontinentallightjetonthemarket,withcertificationtargetedfor

2028/2029.

AdvantagesofHonda’sOver-WingEnginePlacement.Oneofthemostnoticeabledifferences

inaHondaAircraftisitsengineplacement.Enginesaremountedabovethewing,asopposedto

attachedtotherearfuselageascommonlyseenoncompetingbusinessjetdesigns.Thestrategic

placementprovidessuperioraerodynamicswithrespecttoairflow,overalllift,andengineusage.

Whenaircraftenginesaremountedtothebackofafuselage,someoftheinteriorspacemustbe

allottedtotheheavystructuresneededtoholdtheengine.Honda’sAircraftconfigurationtherefore

offerscustomersimprovedcabinspacerelativetocompetingproducts.Onedownside,however,

isthattheaircraftrequiresmoreductingbecausethehotairfromtheenginehasfarthertotravel

tothemaincabin,whichaddsweighttotheairframe.

EchelonIsExpectedtoBeOnlyTranscontinentalLightJet.ThenewEchelonaircraftwilltransform

Hondafromasingle-toadual-programcompany,offeringitamoresustainablepositioninthe

competitivelandscape.Whatdifferentiatesthe