Industry Background:
A business Jet is an aircraft mainly designed to transport a small number of passengers at a premium cost compared to a commercial airliner. Business jets are mostly owned and operated by corporations, wealthy people, government agencies, or commercial business jet operators that provide air charter or air taxi services. The business jet offers several facilities such are safe and cost effective mode of travel, reduce travel time and conduct business during the flight. There has been significant rise in number of business jet aircraft model with figure stood up to 21,339 in United States alone in 2018, the future for business jet looks promising. The major companies are introducing latest technology based business jet in Asia-Pacific and Middle East region to as its demand is observed in flight scheduling and efficient profit through aviation.According to AMA Research, the market for Business Jet is expected to register a CAGR of 1.52% during the forecast period to 2027. This growth is primarily driven by Replacement of Old Aircraft into New Aircrafts Leads to Drive the Business Jet Market. and Rise in Corporate Profits Fuelled up the Market..
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies in Study | Bombardier Inc. (Canada), Dassault Aviation S.A. (France), Cessna Aircraft Company (United States), Gulfstream Aerospace Corporation (United States), Embraer S.A. (Brazil), Adam Aircraft (United States), Boeing Commercial Airplanes (United States), Eclipse Aviation (United States), Hawker Beechcraft (United States), Honda Aircraft Company (United States), Israel Aerospace Industries (Israel) and Pipe Aircraft (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Globally, a noticeable market trend is evident Increase demand of pre-owned business jets.
. The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Bombardier Inc. (Canada), Dassault Aviation S.A. (France), Cessna Aircraft Company (United States), Gulfstream Aerospace Corporation (United States), Embraer S.A. (Brazil), Adam Aircraft (United States), Boeing Commercial Airplanes (United States), Eclipse Aviation (United States), Hawker Beechcraft (United States), Honda Aircraft Company (United States), Israel Aerospace Industries (Israel) and Pipe Aircraft (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March, 2019, Dassault Aviation acquired MRO-business ExecuJet and TAG Aviation Group. This acquisition is beneficial in strengthening its global presence and increase the market share of the falcon maintenance team.
In December 2018, The Boeing Co. launched an BBJ 777X, a new boeing business jet model which is beneficial in providing longest range of 11,645 nautical miles and a 3,256-square-foot cabin and unlimited interior design options to ensure ultimate comfort for long distance travel.
Market Drivers
- Replacement of Old Aircraft into New Aircrafts Leads to Drive the Business Jet Market.
- Rise in Corporate Profits Fuelled up the Market.
Market Trend
- Increase demand of pre-owned business jets.
- Business jet Market Growth with Increase of Premium Consumer.
Restraints
- Intervention and Government Regulations in Developing Countries.
- Long Term Process for Product Certification Hampers the Business Jet Market.
Opportunities
Introduction of New Models and Technology Advancements Expected to Boost the Business Jet Market. and Rapid Deployment of Specialist Team Improving the Organization Efficiency Leads to Propel the Market.
Challenges
Increase in Fuel Price are Anticipated the Challenge the Market. and Adverse Impact Due to Economic Uncertainties in Business Jets.
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Business Jet Study Sheds Light on
The Business Jet Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Business Jet industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Business Jet industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.