The global business jets market size is projected to grow from an estimated USD 18.8 billion in 2020 to USD 38.0 billion by 2030, at a CAGR of 7.3% during the forecast period.
The increasing number of high net worth individuals, upcoming new aircraft program, and aging fleet size to drive the growth of the market. Though the market has witnessed a slow growth in recent years, aircraft with Vertical Take-off and Landing (VTOL) capability and environment-friendly propulsion technologies, including electric and hybrid engines, are expected to reduce the operating costs drastically and serve as an opportunity for market growth up to 2030.
Browse 234 market data Tables and 53 Figures spread through 261 Pages and in-depth TOC on "Business Jets Market - Global Forecast to 2030"
Based on aircraft type, the light segment is projected to grow at the highest CAGR from 2019 to 2030. The growth of this segment can be attributed to new startups focusing on developing aircraft in the light category. Commercialization of urban air mobility will further drive the growth of light business jets market, which will be used for intra- and intercity travel.
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Based on the point of sale, the OEM segment is projected to grow at the highest CAGR from 2019 to 2030. The growth of this segment can be attributed to increasing aircraft deliveries during the forecast period. New aircraft programs such as Bombardier’s Global 5500, 6500, and 8000; Embraer’s Praetor 500 and 600; and Textron’s Citation Longitude, among others contribute to increasing OEM deliveries.
Based on systems, the avionics sub-segment of OEM systems is projected to grow at the highest CAGR from 2019 to 2030
The growth of this segment can be attributed to the periodic upgrades in avionics systems. Manufacturers are currently focusing on avionics components to develop products that are more reliable, accurate, and efficient. Continuous improvements in software technology have modified the human-machine interface of avionics systems. It has become more user-friendly and can automate a wide variety of in-flight tasks, thereby reducing the workload of the flight crew to a large extent.
Asia Pacific’s GDP forecast is estimated to rise in the coming years, with developing countries such as China and India expected to have considerable growth potential for the market. China, in recent times, has become a market for huge foreign investments due to the stable growth and robust developments in its economy. With improvements in technology, business jets are acting as the emerging frontiers in the aircraft industry. Investments in more efficient power electronics, lightweight components, and competent batteries together drive the business jets market.
Major players operating in the business jet market include Bombardier (Canada), Embraer (Brazil), Textron, Inc. (US), Gulfstream (US), Airbus (Netherland), and Boeing (US), among others. These players offer business jets of various aircraft type including super light, light, mid-sized, super mid-sized, large, and airliner. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific, Latin America.
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COVID-19 Impact Analysis on Business Jets Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2019-2027.
The report encompasses data regarding market share and recent developments by key players.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Business Jets Market include Gulfstream Aerospace Corporation, Bombardier Inc., Textron Inc., Dassault Aviation SA, Embraer SA, and Airbus SE, Dassault Aviation, HondaJet, Eviation Aircraft, Zunum Aero, Joby Aviation, and Cennas Aircraft Company..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Business Jets Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/business-jets-market/download-sampleMarket SegmentationThe broad Business Jets Market has been sub-grouped into the Point of Sale, Range, Aircraft Type and Region.
The report studies these subsets with respect to the geographical segmentation.
The new report by Expert Market Research titled, ‘Global Business Jets Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global business jets market, assessing the market based on its segments like aircraft type, end use, systems, services, platform and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The sample report shall be delivered to you within 24 hours.Request a free sample copy in PDF or view the report summary@ https://www.expertmarketresearch.com/reports/business-jets-market/requestsampleThe key highlights of the report include:Market Overview (2016-2026)Historical Market Size (2020 ): USD 24.74 billionForecast CAGR (2021-2026 ): 7%Forecast Market Size (2026 ): USD 37.13 billionThe market for business jets has seen substantial growth due to factors such as the increasing number of staff and the introduction of fresh aircraft programs.
Also, increased knowledge across different segments offers an enormous market opportunity for key players in the business jets market.
Business jets can be customised for specific missions, such as casualty evacuation or parcel delivery, and some are used by public bodies, government officials, and the military services.Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/business-jets-marketBased on the aircraft type, the industry is divided into:LightMid-SizedLargeAirlinersBased on the end use, the industry is divided into:PrivateOperatorsBased on the system, the industry is divided into:OEMAftermarketBased on the services, the industry is divided into:Charter ServicesJet Card ProgramsDebit as You Fly ProgramFractional OwnershipBased on the platform, the industry is divided into:Fixed WingRotary WingThe regional markets for business jets include:North AmericaEuropeAsia PacificLatin AmericaMiddle East and AfricaLatest News on Global Business Jets Market@ https://www.expertmarketresearch.com/pressrelease/business-jets-marketMarket TrendsGeographically, North America currently holds the largest market share and is likely to maintain that position throughout the forecast period.
Most of the demand is for light and large jets due to the presence of numerous high-net-worth people and corporate companies.
In addition, charter companies have reduced their pricing to accommodate the business jet prospects.
