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Monday, November 8, 2021

Global Business Jets Market to be driven by the rising number of staff and the introduction of fresh aircraft programs in the Forecast Period of 2021-2026

 The new report by Expert Market Research titled, ‘Global Business Jets Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global business jets market, assessing the market based on its segments like aircraft type, end use, systems, services, platform and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2016-2026)

  • Historical Market Size (2020 ): USD 24.74 billion
  • Forecast CAGR (2021-2026 ): 7%
  • Forecast Market Size (2026 ): USD 37.13 billion

The market for business jets has seen substantial growth due to factors such as the increasing number of staff and the introduction of fresh aircraft programs. Also, increased knowledge across different segments offers an enormous market opportunity for key players in the business jets market. The light aircraft segment is expected to grow at the fastest rate during the forecast period. The expansion of the light aircraft segment can be attributed to its growing use as business jets for inter- and intra-city transportation, as well as greater brand marketing by manufacturers. The sector is expected to grow even more as technology advances and the middle-class population grows. The business jet industry is expected to grow as air mobility improves in both developed and developing countries.

Industry Definition and Major Segments

A private jet, often known as a business jet or bizjet, is a jet aircraft designed to transport small groups of people. Business jets can be customised for specific missions, such as casualty evacuation or parcel delivery, and some are used by public bodies, government officials, and the military services.

Explore the full report with the table of contents@

Based on the aircraft type, the industry is divided into:

  • Light
  • Mid-Sized
  • Large
  • Airliners

Based on the end use, the industry is divided into:

  • Private
  • Operators

Based on the system, the industry is divided into:

Based on the services, the industry is divided into:

  • Charter Services
  • Jet Card Programs
  • Debit as You Fly Program
  • Fractional Ownership

Based on the platform, the industry is divided into:

  • Fixed Wing
  • Rotary Wing

The regional markets for business jets include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Latest News on Global Business Jets Market@

Market Trends

Geographically, North  America currently holds the largest market share and is likely to maintain that position throughout the forecast period. The region has the world's largest operational business jet fleet, with the United States accounting for most of them. Most of the demand is for light and large jets due to the presence of numerous high-net-worth people and corporate companies. In addition, there has been a rise in demand for charter services in the region during the last few years. In 2020, demand for business aviation has increased as a result of COVID-19's influence on commercial aviation. Even though overall flight activity decreased in 2020, business aviation flight activity began to recover steadily in May of that year. Furthermore, following the lifting of COVID-19 pandemic restrictions in the region in 2021, corporate jet activity began to surge. In addition, charter companies have reduced their pricing to accommodate the business jet prospects. The expansion of charter operations in the region has prompted charter operators to embark on fleet modernization plans in order to improve fleet efficiency.

Key Market Players

The major players in the market are APG-Neuros, Safran S.A. (SAF (EPA)), Curtiss-Wright Corporation (CW (NYSE)), Esterline Technologies Corporation, Meggitt PLC (MGGT (LON)), United Technologies Corporation (UTX (NYSE)), Eaton Corporation Inc (ETN (NYSE)), Ametek, Inc. (AME (NYSE)), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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