NEW YORK, Oct. 16, 2023 /PRNewswire/ -- The business jet market size is expected to grow by USD 6.32 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 4.25% during the forecast period. The market is segmented by End-user (Operator and Private), Type (Large business jet, Medium business jet, and Light business jet), and Geography (North America, Europe, APAC, Middle East and Africa, and South America). The increased global connectivity drives the business jet market. Executives and professionals travel to many international destinations quickly and conveniently in business jets as they have the advantage of being able to reach more airports than commercial airlines. Such flexibility saves time and improves overall travel logistics. This helps businesses respond quickly to global opportunities and challenges. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the business jet market: Airbus SE, Bombardier Inc., Cirrus Design Corp., Diamond Aircraft Industries GmbH, Eclipse Aerospace Inc., Embraer SA, Epic Aircraft LLC, Eviation, General Dynamics Corp., Groupe Industriel Marcel Dassault, Honda Motor Co. Ltd., MSC Aerospace, PIAGGIO AERO INDUSTRIES S.p.A., Pilatus Aircraft Ltd., Stratos Aircraft, Textron Inc., The Boeing Co., XTI Aircraft Co., and Piper Aircraft Inc.
- The Business Jet Market is fragmented in nature.
- Market to observe 3.19% YOY growth in 2023.
Market Dynamics:
Trend
- The increased demand for long-range aircraft is an emerging business jet market trend.
- This is attributed to a number of factors. The global expansion of business operations is a major factor because as businesses grow, they need more efficient and convenient travel solutions.
- Long-haul aircraft assist executives in traveling longer distances without the need for multiple layovers or connections. Consequently, it saves time and improves efficiency.
Challenge
- The growing global geopolitical issues challenge the business jet market.
- Some of the major factors slowing down the industry include political tensions, trade conflicts, and changes to travel regulations.
- As a result of instability, political uncertainty may lead to reduced investment in private aviation.
- Furthermore, travel restrictions and border closures have caused a considerable decrease in the number of business jets used for international flights during the coronavirus pandemic.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Key Segments:
By end-user, the operator segment is significant during the forecast period. This segment includes many organizations and individuals who use business jets for a variety of purposes, including business travel, charter flights, and shared ownership, among others. The ability to provide quick transportation for important employees and decision-makers as well as the flexibility and privacy involved in going to work makes this segment a popular choice among businesses. Get a glance at the market contribution of the segments, Request Free Sample
Related Reports:
The air charter services market size is estimated to grow at a CAGR of 5.37% between 2022 and 2027. The size of the market is forecast to increase by USD 8827.65 million.
The jet bridge market size is estimated to grow at a CAGR of 8.68% between 2022 and 2027. The market size is forecast to increase by USD 179.37 million.
Business Jet Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.25% |
Market growth 2023-2027 |
USD 6.32 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
3.19 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 36% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Airbus SE, Bombardier Inc., Cirrus Design Corp., Diamond Aircraft Industries GmbH, Eclipse Aerospace Inc., Embraer SA, Epic Aircraft LLC, Eviation, General Dynamics Corp., Groupe Industriel Marcel Dassault, Honda Motor Co. Ltd., MSC Aerospace, PIAGGIO AERO INDUSTRIES S.p.A., Pilatus Aircraft Ltd., Stratos Aircraft, Textron Inc., The Boeing Co., XTI Aircraft Co., and Piper Aircraft Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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