Global Business Jet Market, By Aircraft Type (Light, Mid- Sized, Large, Airliners), End Use (Private, Operators), Point of Sale (OEM, Aftermarket), Range (< 3,000 NM, 3,000 - 5,000 NM, > 5000 NM), Business Model (On- demand Service, Ownership), System (Avionics, Aerostructures, Cabin Interiors, Aircraft Systems, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Business Jet Market
The business jet market is expected to witness market growth at a rate of 3.6% in the forecast period of 2022 to 2029. Data Bridge Market Research report on business jet market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the demand for business jets from emerging markets is escalating the growth of business jet market.
A business jet or a private jet is referred to as an aircraft that is turbofan-powered and is created to transport small groups of people. Few of the common types of business jet are such as large, mid-sized, large and airliners.
Major factors that are expected to boost the growth of the business jet market in the forecast period are the increase in the number of high-net worth individuals. Furthermore, the growing replacement of older jets is further anticipated to propel the growth of the business jet market. Moreover, the rising of long- range aircraft in aviation industry is further estimated to cushion the growth of the business jet market. On the other hand, the long period of product certification from aviation authorities and the indecision of orders is further projected to impede the growth of the business jet market in the timeline period.
In addition, the arrival of hybrid-electric aircraft propulsion technology will further provide potential opportunities for the growth of the business jet market in the coming years. However, the inaccessibility of infrastructure and growing fuel prices might further challenge the growth of the business jet market in the near future.
This business jet market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the business jet market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Global Business Jet Market Scope and Market Size
The business jet market is segmented on the basis of aircraft type, end user, point of sale, range, business model and systems. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of aircraft type, the business jet market is segmented into light, mid-sized, large and airliners.
- On the basis of end user, the business jet market has been segmented into private and operators.
- On the basis of point of sale, the business jet market has been segmented into OEM and aftermarket. OEM is further segmented into conventional & hybrid- electric. Aftermarket is further sub segmented into maintenance, repair & overhaul and parts replacement.
- On the basis of range, the business jet market has been segmented into < 3,000 NM, 3,000 - 5,000 NM and > 5000 NM.
- On the basis of business model, the business jet market has been segmented into on-demand service and ownership.
- On the basis of systems, the business jet market has been segmented into avionics, aerostructures, cabin interior, aircraft systems, and others. Aerostructures is further sub segmented into fuselage, empennage, flight control surfaces, wings, nacelle & pylon and nose. Avionics is further sub segmented into flight management system, communication system, navigation system and software. Aircraft system is further sub segmented into hydraulic system, pneumatic systems, environmental control system, emergency systems, electrical systems, propulsion systems and landing systems. Cabin interior is further sub segmented into seats, IFEC, galley, panels, stowage bins and lavatory.
Business Jet Market Country Level Analysis
The business jet market is analyzed, and market size, volume information is provided by country, aircraft type, end user, point of sale, range, business model and systems as referenced above.
The countries covered in the business jet market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina, and rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
North America dominates the business jet market due to the occurrence of many high-net-worth individuals and corporate companies. Furthermore, the rise in the demand for charter services will further boost the growth of the business jet market in the region during the forecast period. Asia-Pacific is further projected to observe significant amount of growth in the robust GDP growth. Moreover, the stable advancement of local companies and growing luxury tourism is further anticipated to propel the growth of the business jet market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Business Jet Market Share Analysis
The business jet market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the business jet market.
Some of the major players operating in the business jet market are Textron Inc., Embraer, Gulfstream Aerospace Corporation., Pilatus Aircraft., Boeing, Airbus S.A.S., Bombardier, Dassault Aviation, Honda Aircraft Company, Volocopter GmbH., Zunum Aero., Joby Aviation, Karem Aircraft, Samad Aerospace Ltd., AirCharter International., VistaJet, Qatar Airways, and NetJets IP, LLC among others.