This business jet market report provides a market analysis for the next five years. It contains an analysis of drivers, challenges, and restraints that impact the industry. It also discusses the industry, market, and technology trends that currently prevail in the market. It provides the market size of the business jet market over the next five years and talks about the market share of specific sub-sectors for each region.
The report also highlights the industry value chain, detailed ETOP analysis of the business jet market. Another aspect included is the illustrative segmentation, analysis, and forecast of the major geographical markets to provide an overall view of the global market.
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| Business Jet Market |
Business jet market report offers a detailed analysis of the light, mid-sized, and large aircraft type.
Key players in this market are Bombardier Inc. (Canada), Gulfstream Aerospace Corporation (U.S.), Cessna Aircraft Company (U.S.), Dassault Aviation S.A. (France), and Embraer S.A. (Brazil).
The business jet market is segmented into three broad segments namely; Light jet, Mid-size jet, and large jet. The light and mid-size jet segment is expected to show considerable growth by 2020.
The large jet segment is expected to confront a slight dip in their growth rate. North America and Europe is expected to contribute to the growing demand in the very light jet segment. It is expected that APAC would contribute significantly in the growth of the large jet segment. Latin America is expected to experience growth in the light and mid-size segment.
New players such as Honda jet and Comac are expected to cater to the growing demand in the business jet market. Technological upgradation and more cost efficient products are expected from these new entrants to the market.
The global business jet market was valued at $20.9 billion in 2013 and is expected to reach $33.8 billion by the end of 2020, to grow at a CAGR of 6.86%.
This report segments the business jet market on the basis of aircraft type, regions, and countries. Further, it contains revenue forecasts and analyses technological trends that are predominant in this market. The geographical analysis contains an in-depth classification for North America, Europe,APAC, Latin America, Africa, and the Middle East, which contains major countries that cover the respective markets. The sections and sub-segments in the report would contain drivers, restraints, opportunities, challenges, and current market trends that are expected to revolutionize the market.
Key players profiled in the report are Bombardier Inc. (Canada), Gulfstream Aerospace Corporation (U.S.), Cessna Aircraft Company (U.S.), Dassault Aviation S.A. (France), and Embraer S.A. (Brazil).
The business jet market can qualitatively be segmented into two major categories-branded charters (which also include air taxis) and fractional ownership. The air charter market has shown significant growth since its inception, which was about five decades back. There were about 3,650 worldwide charter and air taxi fleet in 2013. The primary demand for chartered flights is due to consistent demand from North America and Europe, which constitutes 70% of the total demand. In the recent past, the strongest fleet growth in the charter market has been observed from APAC, Latin America, and Africa.
North America (comprising the U.S. and Canada) accounted for the largest share-52%-of the global business jet market in 2013. The already established infrastructural capacity and the highest number of older aircraft in the world are expected to be the cause of increased demand for new aircraft, thereby driving the growth in the North American region.
Europe is still the second largest market for business jets. The demand for business jets in Europe still remains below the pre-recession average, as the after effects of the sovereign debt crisis continue to hamper the consumer and business confidence across the region.
Latin America, APAC, and Africa are expected to be the key growth regions in the business jet market. Latin America accounts for 11% of the global market. It has the oldest aircraft fleet in the world. Hence, expected replacements will account for a significant number of deliveries in this region. APAC constitutes about 12% of the global market, with China and India being the key players. Under developed infrastructure, high aircraft import taxes, and high user fees are the reasons for the small business jet fleet in these countries. Continued globalization and a burgeoning economy are expected to increase the penetration level of business jets in this region.
Africa currently accounts for 6% of the global business jet market. The bulk of business jet deliveries are shared between Nigeria and South Africa in this region.
In-Depth Report business jet market
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