Business Jets Market:
The GMI Research forecasts that the business jets market is witnessing an upsurge in demand during the forecast period. This is mainly due to the rapid wealth creation in mature markets and the growing penetration of business aviation in emerging countries.
Business Jets Market’s leading Manufacturers:
- Dassault Aviation
- Airbus S.A.S.
- Textron Aviation Inc.
- Boeing
- Bombardier
- Embraer SA
- PILATUS AIRCRAFT LTD
- Gulfstream Aerospace Corporation
- MSC Aerospace LLC
- Honda Aircraft Company
Business Jets Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The rapid wealth creation in mature markets and the growing penetration of business aviation in emerging countries are the major factors surging the growth of the global business jets market. There are several uses of business jets such as for travelling, casualty evacuation, express parcel deliveries, and by armed forces and government officials for numerous tasks. Long-range aircraft are gaining popularity in the aviation industry as they provide optimum comfort, economy, and performance. Presently, airline travel is more stressful and tedious for higher personalities due to the growth in travelers’ number, which has fuelled the number of people inclining towards business aircraft for comfort, privacy, and convenience. According to the business jets market analysis, there is an increase in the adoption of business jets by high-net-worth individuals, which has significantly increased the demand. In addition to this, the availability of superior private jets, such as Cessna Citation Latitude, Embraer Phenom 300, Bombardier Challenger 350, among others, are bolstering the growth of the business jets market share in terms of revenue. The emergence of the COVID-19 pandemic has negatively influenced the growth of the business jets market owing to the temporary shutdown in production and disruption of the supply chain. On the other hand, the factor restraining the growth of the aviation industry include restrictions on air travel both on domestic and international flights around the world.
Regional Drivers
Based on the region, North America is expected to increase at a higher CAGR in the upcoming years. North America is becoming a hub of business aviation in the past few years, attributed to the continuous growth, particularly in the U.S. Additionally, U.S. is the first country to opt for business aircraft, which has enhanced the demand for new and replacement aircraft. Furthermore, the strong presence of many high-net-worth individuals along with the various business aircraft manufacturers, such as Textron (US), Gulfstream (US), Bombardier (Canada), among others, is accelerating the market growth.
Business Jets Market Segmentation:
Segmentation by Type:
- Light
- Medium
- Large
Segmentation by Business Model:
- On-Demand Service
- Air taxis
- Branded Charters
- Jet-Card Programs
- Ownership
- Fractional Ownership
- Full Ownership
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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