Report Code: A08535 | Pages: NA | Mar 2023 | 3189 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Light Business Aircraft Market
Request Now !Business aircraft is a special category of aircraft designed to transport small groups of people. Business jets are usually owned and operated by corporations, individuals, government agencies, or commercial business aircraft operators that provide business jet charter services. Moreover, business aircrafts also offer 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. Several companies are developing the advance light business jets. Recently, in July 2019, Bombardier (Canadian business aircraft manufacturing company) launched its new light business aircraft, named as Learjet 75 Liberty.
COVID-19 Scenario analysis:
Rise in number of high net worth personnel, growth in tourism, and technological advancements in avionics system & interior cabin are some of the major factors that drive the global light business aircraft market. However, lengthy process of obtaining product certification may hamper the light business aircraft 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 aircrafts 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 are preferring business aviation for ease of convenience. Also, light business aircrafts offer optimum comfort, economy, and performance. Moreover, increase in net worth of personnel have enabled them to afford travel or even purchase of such business aircrafts. Therefore, light business aircraft market is witnessing an increased demand and is expected to grow significantly in the future.
Key benefits of the report:
Questions answered in the light business aircraft market research report:
Light Business Aircraft Market Report Highlights
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Key Market Players | Embraer, Textron Inc, Gulfstream Aerospace Corporation, Airbus S.A.S., Bombardier, Textron Aviation Inc, Dassault Aviation, Boeing, XTI Aircraft |
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