Bharat Book Bureau Provides the Trending Market Research Report on “Business Jets Market by Aircraft Type (Light, Mid-Sized, Large, Airliner), Systems (OEM Systems, Aftermarket Systems), End-Use (Private User, Operator), Point of Sale (OEM, Aftermarket), Services, Range and Region - Global Forecast to 2030”under Defence Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
The Business Jets Market size is expected to grow from USD 30.1billion in 2022 to USD 41.8 billion by 2030, at a CAGR of 4.2% during the forecast period. The market for business jetsis driven by various factors, such asthe increasing demand for improved passenger experience and replacement of old aircraft fleets.The manufacturers of business jets are primarily focused on improving passenger experience and enhancing operational efficiency. However, complex product certification procedure and uncertainty of ordersare limiting the overall growth of the market.
Thelight aircraft type segment is estimated to register the highest CAGR of the business jets market from 2022 to 2030
Based on aircraft type, the light aircraft segment of the business jets market is estimated to register highest CAGR from 2022 to 2030. High demand for intercity travel is driving the growth of light aircraft type business jets.However, these aircrafts are cost-efficient and comfortable for short-haul distances, that are also adding to the demand and growth of business jets market.
The private usersegment of end use is estimated to account for the largest share of the business jets market in 2022
Based on end use, the private user segment is estimated to account for the largest share of the business jets market in 2022. In recent years, the demand for ease of air travel has increased significantly.Additionally, they provide access to locations where airlines do not offer regular flights. These are the driving factors that are leading to the increasingnumber of private users of the business jets market.
North America is estimated to account for the largest share of the business jets market in 2022
North Americais estimated to account for the largest share of the business jets market in 2022.The aviation and aerospace sectors in the region are growing steadily. This has consequently created a significant demand for business jets. The growth of the business jets market in this region is driven by factors such as rapid growth in aircraft manufacturing, technological advancements, and travel and tourism.
Break-up of profiles of primary participants in thebusiness jetsmarket
•By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
•By Designation: C-Level Executives– 75%, Manager Level – 25%
•By Region: North America –20%, Europe – 25%, AsiaPacific – 30%,Latin America- 10%, Middle East- 10%, Africa- 5%
Key players in the business jets market are Textron Inc. (US), Embraer SA (Brazil), Gulfstream Aerospace (US), Bombardier Inc. (Canada), Dassault Aviation (France), Boeing (US), Airbus (Netherlands), Honda Aircraft Company (US), Syberjet Aircraft (US) and Piper Aircraft (US)among others. These companies provide business jetsin various countries across North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Research Coverage:
The market study covers the business jets market across segments. It aims at estimating the market size and growth potential of this market across various segments, such asaircraft type, end use, point of sale, system, range, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
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