Dublin, March 15, 2023 (GLOBE NEWSWIRE) -- The "Global Business Jet Market - Annual Review & Market Outlook - 2023 - Key Trends, Issues & Challenges, Growth Opportunities, Force Field Analysis, Market Outlook" report has been added to ResearchAndMarkets.com's offering.
Business Aviation Turbocharged following Pandemic
The Global Business Jet market has been experiencing tailwinds since the outbreak of the pandemic marked by robust order intake, strong book-to-bill ratios and burgeoning order backlogs across most industry OEMs driven by the growing demand for private travel which has drawn a huge number of first time buyers to the market.
The same has also turbocharged the in-service fleet utilization levels which have exceeded even the pre-pandemic levels and revitalized even the used jet market with surging prices & dwindling inventory. The OEMs have been pushing hard to boost production rates to meet growing demand but are constrained by the supply chain disruptions & bottlenecks with the situation steadily improving with the production rates likely to reach pre-pandemic production rates over near term
Strong Long-Term Fundamentals vs. Near-Term Macroeconomic & Supply Chain Challenges
The Global Business Jet market, however, also faces a complex, difficult & uncertain global macroeconomic environment over near term with the global economy projected to be heading for a slow down following unprecedented monetary policy tightening by central banks globally, continued supply chain disruptions, challenges & bottlenecks and sustained geopolitical instability with the Russia-Ukraine war showing no signs of abating and the U.S.-China faceoff further escalating.
The same could have a significant bearing on the industry over near term given that business aviation is strongly correlated with macroeconomic swings and corporate profits. The long-term industry fundamentals for business aviation, however, remain robust and firmly in place with forecasts for strong tailwinds to prevail in form of forecast for deliveries of around 8,500 new business jets worth $274 billion by the industry over the 2023-2032 decade.
The geopolitical instability and rising defense spending trend globally is also likely to open adjacent segment growth avenues by creating increased demand for special mission variants of regular business jet platforms configured for ISR missions following modifications
Transition to Sustainability Topmost, Long-Term Priority for Business Aviation
Sustainability challenges remain the top near to long-term priority for business aviation while facing a strong activist campaigning & public backlash over emissions with the industry required to go green and become absolutely carbon-neutral by 2050 by transitioning to sustainable power sources. Bombardier's release of environmental product declaration on its latest Global 7500 and Challenger 3500 business jets outlining the quantified environmental impact of its jets through various phases of their lifecycle is a testimony to the significance of the seriousness of the sustainability challenges being faced by business aviation.
Further, the active pursuit of a radical, blended-wing-body design for a future business jet by Bombardier with promising potential for significant enhancement in aerodynamic efficiencies & commensurate emission reductions and Textron's creation of e-Aviation as an entirely new business segment focused purely on sustainable flying, following its acquisition of Pipistrel earlier, are the harbingers & building blocks for the creation of a new, sustainability-oriented & attuned business aviation industry & eco-system going forward
Against this backdrop, the report analyzes and provides insights into key industry, market & technology trends likely to shape the future of the Global Business Aviation market over medium term followed by the outlining of emerging, potential growth opportunities. The report also incorporates analysis & review of key market, technology & industry trends along with issues & challenges which are likely to impact and shape industry's future over near to medium term.
The report also identifies key driving & restraining forces for the industry & assesses their potential degree of impact through a force field analysis. The report concludes by providing a comprehensive outlook & demand growth projections for the Global Business Aviation market
Relevance & Usefulness:
The report provides insights & inputs to be incorporated into the broader strategic planning & decision making processes:
- Strategic Planning & Market Analysis Purposes
- Identification of the degree of Congruence between Emerging Market Landscape & Strategy focus
- Identifying & highlighting areas for making potential Strategic Changes, Adjustments & Realignment
- Analysis & Assessment of Emerging Market, Technology Trends & Developments likely to Shape Business Aviation going forward
- Analysis of Forces Driving as well as restraining the Industry & their overall Dynamics through a Force Field Analysis
- Analysis of Market Evolution with Medium Term Demand Growth Projections & Market Outlook
For Whom: Key Decision-Makers across Industry Value Chain
The report will be essential & a key resource for those associated with and having strategic interest in the Global Business Aviation Market. The report will be especially useful for:-
- Key Decision-Makers
- Program Offices & Program Managers
- Top Management of Industry OEMs, Players across Industry Value Chain & Other Companies
- Defense Procurement Executives, Defense Departments, Program Staff
- Suppliers, Vendors, Technology & Services Providers and other Key Players in the Industry Value Chain
- Existing & Potential Investors
- Industry & Company Analysts
- M&A Advisory Firms
- Strategy & Management Consulting Firms
- PE Firms, Venture Capitalists and Financing & Leasing Companies
- Researchers and all those associated with the industry in general
Key Topics Covered:
Section - 1: Global Business Jet Market - Introduction & Market Overview
Section - 2: Market Segmentation
Section - 3: Business Aviation - Market Dynamics & Key Drivers
Section - 4: Industry Trends
Section - 5: Market Trends
Section - 6: Technology Trends
Section - 7: Key Issues, Challenges & Risk Factors
Section - 8: Global Business Jet Market - Force Field Analysis - Analysis of Driving & Restraining Forces and their Overall Dynamics
Section - 9: Global Business Jet Market - Outlook for 2023
Section - 10: Strategic Market Outlook & Demand Projections - Global Business Aircraft Market through 2032
For more information about this report visit https://www.researchandmarkets.com/r/uqrer4
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