Industry Background:
A business jet is an aircraft that is designed to transport lesser quantity of passengers. The travel prices for business jets are expressively higher than that of commercial aircrafts. These jets are generally owned and run by corporations, individuals, government agencies or commercial business jet operators that provide business jet services. Schemes such as Jet Card programs or fractional ownership permit customers to have the advantage of business jet travel without having to own one.
According to AMA Research, the market for Light Business Jet is expected to register a CAGR of 11.7% during the forecast period to 2030. This growth is primarily driven by Growing Preference for Long Range Business Jets.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | Units |
Value Unit | USD (Million) |
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 |
The Heavy Electrical Equipment sector in the
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 (Canada), Embraer (Brazil), Textron Aviation (United States), Honda Aircraft Company (United States), Cirrus Aircraft (United States), PILATUS AIRCRAFT (Switzerland), Gulfstream Aerospace Corporation (United States), Cessna Aircraft Company (United States) and Dassault Aviation S.A. (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 February 2021, Textron Aviation was active in the light and midsize segment, announcing the CJ4 Gen2, which features a redesigned interior offering large jet amenities in a smaller jet.
In October 2023, Honda Aircraft Company announced the HondaJet Echelon, a new light jet. This aircraft is designed to be the world's first single-pilot light jet capable of nonstop transcontinental flight across the United States.The business jet market is highly competitive and comprises of several key players. In terms of market share few of the prominent players currently dominate the market. But with technological advancement and product innovation, mid-size to smaller companies are growing their market existence by securing new contracts.
Influencing Trend:
Adopting new and innovative methods
Market Growth Drivers:
Growing Preference for Long Range Business Jets
Challenges:
Lack of skilled labors
Restraints:
Pilot shortages
Opportunities:
Increase in Business Jet Utilization
AMA Research follows 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 mainly 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 showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Light Business Jet Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Light Business Jet Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Light Business Jet players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes 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, Light Business Jet Study Sheds Light on
The Light Business Jet Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Light Business Jet industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Light Business Jet industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, 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 the value they currently claim or capture the new addressable opportunity.