In-depth analysis of how COVID-19 is impacting the Business Jet Market
Posted by Sandeep Roy on April 3rd, 2020
The report "Business Jets Market by Aircraft Type (Light, Mid-Sized, Large, Airliner), Systems (OEM Systems, Aftermarket Systems), End-User (Private, Operator), Point of Sale (OEM, Aftermarket), Services, and Region - Global Forecast to 2030", size is projected to grow from an estimated USD 24.7 billion in 2019 to USD 36.4 billion by 2030, at a CAGR of 3.6% 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.
Download PDF Brochure @
Light aircraft segment is expected to grow at the highest CAGR in the business jets market during the forecast period
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.
The OEM segment is expected to grow at the highest CAGR in the business jets market during the forecast period
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 is expected to be the fastest-growing region for business jets market during the forecast period
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.
Key Market Players
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.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Sanjay Gupta
630 Dundee Road
Northbrook, IL 60062
About the AuthorSandeep Roy
Joined: August 7th, 2019
Articles Posted: 223
Turn Your Hobby Into A Business
Whether you want a full time income, or are just trying to supplement your income with a side hustle, now is your chance to turn your hobby into a business!
WordPress Plugins and Themes - WP Marketer Tools
WordPress Themes and Plugins To Help Grow Your Online Business and Make It More Efficient.
How to launch your own woodworking business for under $1,000.00 and make $90,000 to $150,000 per year!
Binary Options Trading Signals
BOTS room has been around for over 6 years and is the community everyone uses for strategy development for options and Forex. With market veterans with over 20 years experience, what could be better!
Find Real Estate Investment Deals
BirdDogBot runs lightning-fast searches of freely available property listing sites for the best deals in your market that meet your investing criteria.
Wall Street Window
Stock Market Financial and Global Geopolitical News