The global business jet delivery market is estimated to reach US$19.52 billion in 2023, growing at a CAGR of 4.09%, for the period spanning from 2019 to 2023. The factors such as increasing corporate profits, improving consumer confidence, inclining flight operations, rising billionaires and accelerating economic growth are expected to drive the market growth. However, growth of the industry would be challenged by lack of infrastructure and high maintenance cost. A few notable trends include industry consolidation, increasing fractional fleet base, increased research and development activities and rising demand in emerging markets.
Flight departments, charter companies and fractional ownership are some of the authorities who own, manage and run business jets. Among the three, fractional ownership is becoming a popular choice because of the cost benefit it offers to the consumer.
On the basis of size, business jets are classified into heavy jets, medium jets and light jets. Heavy jets are expensive as compared to other two types and therefore, they accounted for larger market in terms of value.
The fastest growing regional market is North America owing to spur in business travels and investments by the young billionaires with improving economic conditions in US and Canadian cities.
Scope of the report:
• The report provides a comprehensive analysis of the global business jet market, segmented on the basis of size i.e. heavy jets, medium jets and light jets.
• The major regional markets (North America, Europe, Asia-Pacific and South America) have been analysed.
• The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players [Textron Inc. (Cessna), Bombardier Inc., General Dynamics Corporation (Gulfstream), Embraer S.A., Dassault Aviation SA and Airbus SE] are also presented in detail.
Key Target Audience:
• Business Jet Manufacturers
• Component Suppliers
• End Users
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities