A07123 | Pages: NA | Jul 2022 | 2694 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Business Jet Market
Request Now !Business jets are a special category of aircrafts designed to transport small groups of people. Business jets are usually owned and operated by corporations, individuals, government agencies, or commercial business jet operators that provide business jet charter services. Moreover, business jet also offers private air travel with large and personalized space. For instance, schemes such as Jet Card programs or fractional ownership allow customers to have the benefit of business jet travel without having to own one. Seating capacity differs according to the requirements of the people hiring the jet. Business jets opted by tourists and business class passengers are anticipated to have higher seating capacity, compared to others. Apart from domestic and commercial applications, country-specific military bases and civilian operators also deploy business jets for long and short hauls.
Market scope and structure analysis:
          Report Metric |                     Details |
 Market size available for years |  2020–2027 |
 Base year considered |  2019 |
 Forecast period |  2021–2027 |
 Forecast units |  Value (USD) |
 Segments covered |  Systems, End User, Type, Sale, and Region |
 Region covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa |
 Companies covered | Embraer, Textron Inc, Gulfstream Aerospace Corporation, Airbus S.A.S., Bombardier, Textron Aviation Inc, Dassault Aviation, Boeing, and XTI Aircraft |
Â
Rise in number of high net worth personnel, growth in tourism, and technological advancements in avionics system & interior cabin are some of the factors that drive the growth of the global business jet market. However, lengthy process of obtaining product certification may hamper the market in the future. On the contrary, the market dynamics for business jets are expected to witness a major transformation with the arrival of supersonic business jets in near future.
As airline travel has become tedious and stressful due to enormous increase in the number of travelers, a large number of individuals prefer business aviation for ease of convenience. In addition, business jets offer optimum comfort, economy, and performance. Increase in net worth of personnel have enabled them to afford travel or even purchase of business jets. Thereby, business jet market is witnessing an increased demand.
The business jet market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets. For instance, starting in 2018, Pilatus delivered the first of six PC-24s to its launch customer PlaneSense. The PC-24, also known as Super Versatile Jet, has a range of around 1,188 Nm. Similarly, Honda Aircraft Company introduced its HondaJet HA-420 with first delivery in 2016. The company built over 90 aircraft by end of October. Hence, business jet market possesses a huge growth with the technological advancements.
Key segments covered:
        Segments |                  Sub-segments |
 Systems |
|
 End-User | Â
|
 Type |
|
 Sale | Â
|
Â
Key benefits of the report:
Questions answered in the global business jet market research report:
Key Market Segments
Segments | Sub-segments |
---|---|
By Systems |
|
By Type |
|
By Sale |
|
By Region |
|
Key Market Players
Loading Table Of Content...
Start reading.
This Report and over 13,000+ thousand more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers