An increasing number of high net worth individuals is one of the significant factors driving the business jets market
The business jets market 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. Besides an increasing number of high net worth individuals, aging fleet size and upcoming new aircraft programs are expected to drive the growth of the market.
Based on aircraft type, large segment projected to lead business jets market during the forecast period
Based on aircraft type, the large segment is projected to lead business jets market during the forecast period. This growth can be attributed to the comfort that large business jets provide. Large jets comprise standard heavy jets and ultra-long-range heavy jets, which are priced much higher than light and mid-sized jets. The delivered volume of large jets is 1/3rd that of total business jets, and its price is more than double of average business jet price, leading to a larger market share.
North America is estimated to account for the largest share of the business jets market in 2019
North America region is expected to account for the largest share of the global market in 2019. This can be attributed to the maximum number of high-net-worth individuals in this region, and presence of major business jet manufacturers in this region such as Textron (US), Bombardier (Canada), and Gulfstream (US), among others. Additionally, the availability of airports across North America enables ease in business travel across the region. Geographically, North America is the biggest region, by area, hence it is important for business travelers to opt for the fastest mode of transport to save time, resulting in increasing demand for business jets.
Break-up of profile of primary participants in the Business Jets Market:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: Others – 35%, C Level – 25%, and Director Level – 40%
• By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, and Rest of the World – 5%
Major companies profiled in the report include Bombardier (Canada), Embraer (Brazil), Textron, Inc. (US), Gulfstream (US), Airbus (Netherland), and Boeing (US), among others.
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the business jets market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; mergers; and partnerships, agreements, and collaborations; and recent developments associated with the business jets market. Competitive analysis of upcoming startups in business jets market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall business jets market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on Business Jets offered by top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the Business Jets Market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the Business Jets Market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Business Jets Market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the Business Jets Market