The Global Business Jet market has been on the resurgence path while facing headwinds in a difficult & challenging market environment with signs of recovery over the past year or so. The industry, however, has shown tremendous resilience over the past decade with portfolio refresh through new product introductions, reinforcement of presence across key markets & regions and services portfolio expansion having been the key focus areas for industry OEMs in a difficult demand environment.
The aircraft utilization levels across most operators & users, however, remain at a pretty good level, thereby, driving the requirements & revenues from aircraft service & aftermarket activity for the industry. The market for business jets remains skewed towards heavy jets where the three way battle for market shares continues to be fought amongst Gulfstream, Bombardier and Dassault. Gulfstream has already announced the G700 to take on Bombardier's Global 7500 while Bombardier is likely to present a stiff challenge to Gulfstream going forward as a pure play business jet manufacturer post its complete exit from commercial & regional aviation businesses. Further, New aircraft designs from the industry OEMs are witnessing significant uptake by the customers while the demand diminishes for legacy aircraft platforms.
Further, regulatory mandates & enhanced sustainability focus are likely to drive new aircraft sales and modernization as well as upgrade of existing aircrafts over medium term translating into an overall fillip for the industry. Additionally, the market dynamics for business jets are likely to witness a major transformation with the era of supersonic business jets likely to become a reality towards the middle 2020s with a number of industry OEMs working on the development of supersonic business jets with active pursuit of R&D towards development of a range of supersonic flight technologies.
On the contrary, the ongoing trade war situations, wave of protectionism and macroeconomic slowdown as well as environmental uncertainty have been impacting the new aircraft purchases by operators & companies with a recovery in 2020 highly contingent on developments on the global trade scenario. Additionally, the tightening of regulatory mandates, with the latest European environmental taxes and the upcoming emissions reduction & offsetting scheme are likely to put further pressure on the aviation industry. Additionally, a surge in crude oil prices emanating from the political volatility in the Middle East is likely to further exacerbate the situation and impact the profitability of operators.
Excerpts & Key Themes of Analysis
1. Business Aviation market on the cusp of recovery with reference to demand & annual business jet deliveries 2. Introduction of new business jet programs stimulating demand and driving sales of new aircraft programs 3. The competitive intensity between Gulfstream and Bombardier for market leadership to intensify going forward with Gulfstream's latest G700 program to take on Bombardier's Global 7500 while a leaner Bombardier post restructuring with a laser sharp focus on the business aviation segment is bound for resurgence going forward 4. Increased focus on sustainability by the industry likely going forward led by increased usage of Sustainable Aviation Fuels (SAF) and technological innovations 5. Industry showing early signs of consolidation which could materialize into M&A activity going forward 6. New aircraft programs from the industry OEMs registering good uptake by the customers with demand diminishing for legacy aircraft platforms 7. Analysis of emerging global macroeconomic environment & trade scenario over near term & likely impact on business aviation market 8. Urban Aerial Mobility (UAM), Entry into Service of Leonardo's AW169 in 2020 as the world's first civil tiltrotorcraft and likely implications for Business Aviation going forward 9. Tightening global regulatory norms pertaining to CO2 emissions from Aviation and analysis of upcoming Carbon offset & mitigation schemes 10. Development of Hybrid-Electric & Pure Electric Propulsion Technologies by the Industry & the Road Ahead
Key Topics Covered
Section 1: Global Business Aircraft Market - Introduction & Market Overview
Section 2: Market Segmentation
Global Business Aircraft Market Key Segments
Global Business Aircraft Market by Segments
Global Business Aircraft Fleet Size, Evolution & Growth Rate
Section 3: Business Aviation 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 Aircraft Market - Force Field Analysis Analysis of Driving & Restraining Forces and their Overall Dynamics
Section 9: Global Business Aircraft Market Outlook for 2020
Section 10: Strategic Market Outlook & Demand Projections Global Business Aircraft Market through 2028
Analysis of Emerging Market Scenario for Business Jets
Global Demand Outlook Business Aircrafts Forecast to 2028
Demand Growth Projections for Business Jets through 2028
Demand Growth Forecasts for Key Geographic Markets & Regions through 2028