Dublin, April 06, 2023 (GLOBE NEWSWIRE) -- The "Business Jets Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This reportprovides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on business jets market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
The global business jets market grew from $20.38 billion in 2022 to $20.85 billion in 2023 at a compound annual growth rate (CAGR) of 2.3%. The business jets market is expected to grow to $24.64 billion in 2027 at a CAGR of 4.3%.
Major players in the business jets market are Airbus SE, The Boeing Company, Bombardier Inc., Dassault Aviation SA, Embraer SA, Gulfstream Aerospace Corporation, Textron Inc., Honda Aircraft Company, Cirrus Design Corporation, Pilatus Aircraft Ltd., SyberJet Aircraft, Zunum Aero, Cessna Aircraft Company and Eviation Aircraft.
Reasons to Purchase
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- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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The business jets market consists of sales of super midsized jet, heavy business jets and ultra-long-range sets. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The business jets refer to a jet aircraft that are used to transport small groups of people, also known as a private jet. Some governmental bodies, government personnel, and military services use business jets for other purposes like the evacuation of casualties or quick parcel deliveries.
North America was the largest region in the business jets market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the business jets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of aircraft in business jets market are light, mid-sized, large business jets and airliner business jets. The light business jets, sometimes known as a personal jet or a microjet, which is a category of the tiny business airplane that accommodates 4-8 passengers. A light jet may fly long distances at high speeds while consuming little fuel. The systems used in business jets includes propulsion system, aerostructures, avionics and others. Business jets are mostly sold by OEM or aftermarket and are used by private users or operator.
Increasing demand for business jets for various application is driving the growth of the business jets market. A business jet is a plane designed to transport small groups of people. The key reason fueling the rising demand for business jets is the growing need for business travel and short-haul flights. Business jets production will automatically rise in response to the increasing demand for business jets to fulfill the market demand.
Technology advancement is a key trend gaining popularity in the business jets market. Advancements in technology include the use of the most advanced technologies such as fighter technology in business jets with advanced safety features, the largest cabin, innovative flight deck, and other features. Key players are focusing on launching technologically advanced business jets to offer customers an unmatched experience with all safety features.
In April 2022, Textron Inc., a US-based aircraft industry company acquired Pipistrel, for an amount of $235 million. With this acquisition, Textron aims to expand its manufacturing and product development capabilities as well as make Textron a global leader in sustainable aircraft. Pipistrel will be operated under Textron's new business segment called Textron eAviation. Pipistrel is a Slovenia-based light private electric aircraft manufacturer.
The countries covered in the business jets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $20.85 billion |
| Forecasted Market Value (USD) by 2027 | $24.64 billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Business Jets Market Characteristics
3. Business Jets Market Trends And Strategies
4. Business Jets Forwarding Market - Macro Economic Scenario
4.1 COVID-19 Impact On Business Jets Forwarding Market
4.2 Ukraine-Russia War Impact On Business Jets Forwarding Market
4.3 Impact Of High Inflation On Business Jets Forwarding Market
5. Business Jets Market Size And Growth
5.1. Global Business Jets Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Business Jets Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Business Jets Market Segmentation
6.1. Global Business Jets Market, Segmentation By Aircraft Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Light
- Mid-Sized
- Large
- Airliner
6.2. Global Business Jets Market, Segmentation By Point Of Sale, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- OEM
- Aftermarket
6.3. Global Business Jets Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Private
- Operator
7. Business Jets Market Regional And Country Analysis
7.1. Global Business Jets Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Business Jets Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/49mdug
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