Business Jet Market to grow by USD 6.32 billion during 2022-2027 | Increased global connectivity to drive the growth - Technavio

NEW YORK, Oct. 16, 2023 /PRNewswire/ -- The business jet market size is expected to grow by USD 6.32 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 4.25% during the forecast period. The market is segmented by End-user (Operator and Private), Type (Large business jet, Medium business jet, and Light business jet), and Geography (North America, Europe, APAC, Middle East and Africa, and South America). The increased global connectivity drives the business jet market. Executives and professionals travel to many international destinations quickly and conveniently in business jets as they have the advantage of being able to reach more airports than commercial airlines. Such flexibility saves time and improves overall travel logistics. This helps businesses respond quickly to global opportunities and challenges. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the business jet market: Airbus SE, Bombardier Inc., Cirrus Design Corp., Diamond Aircraft Industries GmbH, Eclipse Aerospace Inc., Embraer SA, Epic Aircraft LLC, Eviation, General Dynamics Corp., Groupe Industriel Marcel Dassault, Honda Motor Co. Ltd., MSC Aerospace, PIAGGIO AERO INDUSTRIES S.p.A., Pilatus Aircraft Ltd., Stratos Aircraft, Textron Inc., The Boeing Co., XTI Aircraft Co., and Piper Aircraft Inc.
• The Business Jet Market is fragmented in nature.
• Market to observe 3.19% YOY growth in 2023.

Market Dynamics:

Trend

• The increased demand for long-range aircraft is an emerging business jet market trend.
• This is attributed to a number of factors. The global expansion of business operations is a major factor because as businesses grow, they need more efficient and convenient travel solutions. 
• Long-haul aircraft assist executives in traveling longer distances without the need for multiple layovers or connections. Consequently, it saves time and improves efficiency.

Challenge

• The growing global geopolitical issues challenge the business jet market.
• Some of the major factors slowing down the industry include political tensions, trade conflicts, and changes to travel regulations.
• As a result of instability, political uncertainty may lead to reduced investment in private aviation.
• Furthermore, travel restrictions and border closures have caused a considerable decrease in the number of business jets used for international flights during the coronavirus pandemic.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Key Segments:

By end-user, the operator segment is significant during the forecast period. This segment includes many organizations and individuals who use business jets for a variety of purposes, including business travel, charter flights, and shared ownership, among others. The ability to provide quick transportation for important employees and decision-makers as well as the flexibility and privacy involved in going to work makes this segment a popular choice among businesses. Get a glance at the market contribution of the segments, Request Free Sample

Related Reports:

The air charter services market size is estimated to grow at a CAGR of 5.37% between 2022 and 2027. The size of the market is forecast to increase by USD 8827.65 million.

The jet bridge market size is estimated to grow at a CAGR of 8.68% between 2022 and 2027. The market size is forecast to increase by USD 179.37 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio