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PUBLISHER: Orion Market Research | PRODUCT CODE: 1292902

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PUBLISHER: Orion Market Research | PRODUCT CODE: 1292902

Global Business Jet Market 2023-2030

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Global business jet market is anticipated to grow at a considerable CAGR of 5.3% during the forecast period. Rising disposable income, increasing urbanization, an increase in high-net-worth individuals, an increase in air travelers, and other factors are driving global market growth. Business-class jets are mostly used for business travel and individual use by multimillionaire celebrities. They provide a more pleasant and comfortable journey and are more convenient and safe. Companies are also launching new business jets to meet the increasing demand. For instance, in February 2023, during the IDEX expo in Abu Dhabi, Embraer Defense & Security displayed a mockup of the P600 airborne early warning (AEW) aircraft it is developing in collaboration with IAI/Elta Systems. The P600 is based on the Embraer Praetor 600 super-midsize business jet's airframe and is outfitted with a low-weight, cutting-edge, high-efficiency digital S-band Elta AESA radar in a dorsal radome. In addition, the aircraft will have civil and military IFF, ESM, ELINT, and COMINT capabilities, as well as an innovative and strong self-protection suite. The P600 will be outfitted with a full communication suite that includes data networks and satellite connectivity for operating beyond line of sight (BLOS).

Segmental Outlook

The global business jet market is segmented by type and platform. Based on type, the market is sub-segmented into light business jet, mid-size business jet, and large business jet. Based on platform, the market is sub-segmented into on-demand service and aircraft management service. Among platforms, the on-demand service segment is expected to dominate the market during the forecast period, owing to the growing demand for new business aircraft in the US, China, and the UAE. Additionally, the growth is also supported by the presence of many private jet service providers in emerging and developed economies.

The Large Business Jet Segment Holds a Prominent Share in the Global Business Jet Market

Based on type, the market is sub-segmented into light business jet, mid-size business jet, and large business jet. Due to significant investments in establishing new aircraft service centers in various countries, the large business jet segment is expected to account for the largest market share. For instance, on December 7, 2022, Bombardier announced the opening of a new service center at Abu Dhabi International Airport (AUH) by 2025. Bombardier is a major producer of innovative aircraft and is well renowned for its world-class experiences and services.

Regional Outlook

The global business jet market is segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the rest of the world (the Middle East and Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among the regions, the North American region is expected to generate the highest market share, followed by the European market. Substantial expenditures in research and development efforts, expanding regional air travel, and increasing disposable income are important drivers driving market revenue growth in Europe.

The North American Region is Expected to Dominate the Global Business Jet Market

The North American is anticipated to grow at a considerable rate in the marker. According to the data presented by Stratus Jet Charters, there were over 21,979 operational private jets across the globe in 2019, and North America represented approximately 71% of all private aircraft. The growing presence of leading market players such as Bombardier, Textron Inc., and others is a primary driver of market revenue growth. These firms are making major investments, in increasing comfort and simplifying flight characteristics. Businesses are also collaborating with various pilot training colleges to create aircraft models that are properly constructed for teaching and built for adventure. For instance, on December 6, 2022, Joby Aviation, a California-based aircraft manufacturer, joined Aviation High School to teach aircraft mechanics. The New York City high school programme is a component of company's goal to develop services and infrastructure for aircraft. This is particularly important as electric propulsion gets traction in aviation technology and dozens of high school students acquire experience servicing and operating aircraft systems. Additionally, increased adoption of innovative aircraft systems and growing support from corporate aviation in the US are boosting market revenue growth in North America. Due to the advent of hybrid-electric propulsion technology, the US is likely to account for the greatest revenue share holder.

Market Players Outlook

The major companies serving the global business jet market include: Airbus SE, Bombardier Inc., Cirrus Design Corp., Dassault Aviation, Embraer, and others. These companies are considerably contributing to the market's growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, investments, and new product launches to stay competitive in the market. For instance, in August 2022, Bombardier purchased the first Challenger 3500 Business Jet based in Europe for use in charter operations with Air Corporate SRL. In addition, Textron Inc., the parent company of the aviation brands Cessna, Beechcraft, and Bell, said in March 2022 that it had struck a deal to acquire Pipistrel, a world-renowned developer and leader in electrically powered aircraft with offices in Slovenia and Italy.

The Report Covers:

  • Market value data analysis for 2022 and forecast to 2030.
  • Annualized market revenues ($ million) for each market segment.
  • Country-wise analysis of major geographical regions.
  • Key companies operating in the global business jet market. Based on the availability of data, information related to new product launches and relevant news is also available in the report.
  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
  • Analysis of market entry and market expansion strategies.
  • Competitive strategies by identifying 'who stands where' in the market.
Product Code: OMR2027273

Table of Contents

1.Report Summary

Current Industry Analysis and Growth Potential Outlook

  • 1.1.Research Methods and Tools
  • 1.2.Market Breakdown
    • 1.2.1. By Segments
    • 1.2.2. By Region

2.Market Overview and Insights

  • 2.1.Scope of the Report
  • 2.2.Analyst Insight and Current Market Trends
    • 2.2.1. Key Findings
    • 2.2.2. Recommendations
    • 2.2.3. Conclusion

3.Competitive Landscape

  • 3.1.Key Company Analysis
    • 3.1.1.Overview
    • 3.1.2.Financial Analysis
    • 3.1.3.SWOT Analysis
    • 3.1.4.Recent Developments
  • 3.2.Key Strategy Analysis

4.Market Segmentation

  • 4.1.Global Business Jet Market by Type
    • 4.1.1.Light Business Jet
    • 4.1.2.Mid-Size Business Jet
    • 4.1.3.Large Business Jet
  • 4.2.Global Business Jet Market by Platform
    • 4.2.1.On-Demand Service
    • 4.2.2.Aircraft Management Service

5.Regional Analysis

  • 5.1.North America
    • 5.1.1. US
    • 5.1.2. Canada
  • 5.2.Europe
    • 5.2.1. UK
    • 5.2.2. Germany
    • 5.2.3. Italy
    • 5.2.4. Spain
    • 5.2.5. France
    • 5.2.6. Rest of Europe
  • 5.3.Asia-Pacific
    • 5.3.1. China
    • 5.3.2. India
    • 5.3.3. Japan
    • 5.3.4. South Korea
    • 5.3.5. Rest of Asia-Pacific
  • 5.4.Rest of the World

6.Company Profiles

  • 6.1.Airbus SE
  • 6.2.Boeing
  • 6.3.Bombardier Inc.
  • 6.4.Cirrus Design Corp.
  • 6.5.Dassault Aviation SA
  • 6.6.Embraer SA
  • 6.7.General Dynamics Corp.
  • 6.8.Gulfstream Aerospace Corp.
  • 6.9.Honda Aircraft Company
  • 6.10.Pilatus Aircraft
  • 6.11.Syberjet Aircraft
  • 6.12.Textron Inc.
  • 6.13.Pilatus Aircraft Ltd.
  • 6.14.Joby Aviation
  • 6.15.Zunum Aero
  • 6.16.Honeywell International
Product Code: OMR2027273

LIST OF TABLES

  • 1.GLOBAL BUSINESS JET MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)

GLOBAL LIGHT BUSINESS JET MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)

  • 3.GLOBAL MID-SIZE BUSINESS JET MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 4.GLOBAL LARGE BUSINESS JET MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 5.GLOBAL BUSINESS JET MARKET RESEARCH AND ANALYSIS BY PLATFORM, 2022-2030 ($ MILLION)
  • 6.GLOBAL ON-DEMAND SERVICE BUSINESS JET MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 7.GLOBAL AIRCRAFT MANAGEMENT SERVICE BUSINESS JET MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 8.GLOBAL BUSINESS JET MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
  • 9.NORTH AMERICAN BUSINESS JET MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
  • 10.NORTH AMERICAN BUSINESS JET MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
  • 11.NORTH AMERICAN BUSINESS JET MARKET RESEARCH AND ANALYSIS BY PLATFORM, 2022-2030 ($ MILLION)
  • 12.EUROPEAN BUSINESS JET MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
  • 13.EUROPEAN BUSINESS JET MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
  • 14.EUROPEAN BUSINESS JET MARKET RESEARCH AND ANALYSIS BY PLATFORM, 2022-2030 ($ MILLION)
  • 15.ASIA-PACIFIC BUSINESS JET MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
  • 16.ASIA-PACIFIC BUSINESS JET MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
  • 17.ASIA-PACIFIC BUSINESS JET MARKET RESEARCH AND ANALYSIS BY PLATFORM, 2022-2030 ($ MILLION)
  • 18.REST OF THE WORLD BUSINESS JET MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
  • 19.REST OF THE WORLD BUSINESS JET MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
  • 20.REST OF THE WORLD BUSINESS JET MARKET RESEARCH AND ANALYSIS BY PLATFORM, 2022-2030 ($ MILLION)

LIST OF FIGURES

  • 1.GLOBAL BUSINESS JET MARKET RESEARCH AND ANALYSIS BY TYPE, 2022 VS 2030 (%)

GLOBAL LIGHT BUSINESS JET MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)

  • 3.GLOBAL MID-SIZE BUSINESS JET MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
  • 4.GLOBAL LARGE BUSINESS JET MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
  • 5.GLOBAL BUSINESS JET MARKET RESEARCH AND ANALYSIS BY PLATFORM, 2022 VS 2030 (%)
  • 6.GLOBAL ON-DEMAND SERVICE BUSINESS JET MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
  • 7.GLOBAL AIRCRAFT MANAGEMENT SERVICE BUSINESS JET MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
  • 8.GLOBAL BUSINESS JET SHARE BY REGION, 2021 VS 2028 (%)
  • 9.US BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 10.CANADA BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 11.UK BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 12.FRANCE BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 13.GERMANY BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 14.ITALY BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 15.SPAIN BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 16.REST OF EUROPE BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 17.INDIA BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 18.CHINA BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 19.JAPAN BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 20.SOUTH KOREA BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 21.REST OF ASIA-PACIFIC BUSINESS JET SIZE, 2022-2030 ($ MILLION)
  • 22.REST OF THE WORLD BUSINESS JET SIZE, 2022-2030 ($ MILLION)
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