Business Jets Market by Aircraft Type, Systems, End-user, Point of Sale, Services, Range and Region - Global Forecast to 2030
DUBLIN, Aug. 21, 2020 /PRNewswire/ -- The "Business Jets Market by Aircraft Type (Light, Mid-Sized, Large, Airliner), Systems (OEM Systems, Aftermarket Systems), End User (Private, Operator), Point of Sale (OEM, Aftermarket), Services, Range And Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The business jets market is estimated at USD 18.8 billion in 2020 and is projected to grow to USD 38.0 billion by 2030, at a CAGR of 7.3% during the forecast period.
An increasing number of high net worth individuals is one of the significant factors driving the business jets market
Besides an increasing number of high net worth individuals, recommencement of global economic growth, and upcoming new aircraft programs are expected to drive the growth of the market.
The outbreak of COVID-19 has led to a significant economic toll on the aviation sector due to air travel restrictions in various countries. The crisis having idled much of the aviation business; fleet readiness, and maintenance considerations are of paramount significance to tackle the challenges posed by the pandemic. However, with certain relaxations across regions, business jet operators and service providers have witnessed a sluggish demand for charter services., Clients are choosing to charter to gain quicker access, skip long and crowded check-in, customs, and immigration queues of people with unknown travel histories.
Based on aircraft type, large segment projected to lead business jets market during the forecast period
Based on aircraft type, the large segment is projected to lead the business jets market during the forecast period. This growth can be attributed to the comfort that large business jets provide. Large jets comprise standard heavy jets and ultra-long-range heavy jets, which are priced much higher than light and mid-sized jets. The delivered volume of large jets is 1/3rd that of total business jets, and its price is more than double of average business jet price, leading to a larger market share.
Based on point of sale, OEM segment projected to lead business jets market during the forecast period
Based on the point of sale, the OEM segment is projected to lead the business jets market during the forecast period. Aircraft are equipped with various components and subcomponents before being delivered to operators. This stage of installation is known as OEM. The OEM phase is one of the crucial aspects of the business jets market. Over the years, there has been a significant rise in demand for business jets around the world.
Based on range, less than 3,000 NM segment is projected to grow at the highest CAGR during the forecast period
Based on range, the less than 3,000 NM segment is projected to grow at the highest CAGR during the forecast period. Business jets that fall under the range of less than 3,000 NM are generally used for short-distance domestic travel. These aircraft have access to small airports and can and can modify departure and arrival processes and time, which drives the growth of this segment.
North America is estimated to account for the largest share of the business jets market in 2020
North America region is expected to account for the largest share of the global market in 2020. This can be attributed to the maximum number of high-net-worth individuals in this region, and presence of major business jet manufacturers in this region such as Textron (US), Bombardier (Canada), and Gulfstream (US), among others. Additionally, the availability of airports across North America enables ease in business travel across the region. Geographically, North America is the biggest region, by area, hence it is important for business travelers to opt for the fastest mode of transport to save time, resulting in increasing demand for business jets.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Business Jets Market, 2020-2030
4.2 Business Jets Market, by Aircraft Type
4.3 Business Jets Market, by End USe
4.4 Business Jets Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Introduction of New Programs
5.2.1.2 Recommencement of Global Economic Growth
5.2.1.3 Aging Fleet Size
5.2.1.4 Increasing Number of High-Net-Worth Individuals
5.2.2 Restraints
5.2.2.1 Lengthy Period of Product Certification from Aviation Authorities
5.2.2.2 Uncertainty of Orders
5.2.3 Opportunities
5.2.3.1 Evtol Aircraft
5.2.3.2 Advent of Hybrid-Electric Aircraft Propulsion Technology
5.2.3.3 Entry of New Business Jets OEMs
5.2.3.4 Rising Demand for Business Jets from Emerging Markets
5.2.3.5 Increase in Demand for Private and Chartered Airplanes Amidst Covid-19 Outbreak
5.2.4 Challenges
5.2.4.1 Unavailability of Infrastructure
5.2.4.2 Rising Fuel Prices
5.2.4.3 Economic Challenges Faced by Oems of Business Jets Market Due to Covid-19 Outbreak
5.3 Technology Analysis
5.3.1 On-Board Jet Wave Technology
6 Industry Trends
6.1 Introduction
6.2 Ecosystem
6.3 Key Influencers
6.4 Current and Futuristic Trends
6.4.1 Sophistication of Cabin Interiors
6.4.1.1 Cabin Lighting
6.4.1.2 Ifec
6.4.1.3 Cabin Management Systems
6.4.2 Autonomous Business Aircraft
6.4.3 Electric Propulsion
6.4.3.1 Hybrid Electric Propulsion System Design
6.4.3.2 All Electric Propulsion System Design
6.4.4 Urban Air Mobility
6.5 USe Cases
6.5.1 Time-Shared Business Jets
6.5.2 Pegasus Universal Aerospace Carried Out Its First Vtol Business Jet Outing at Ebace
6.6 Innovations & Patent Registrations
6.7 Impact of Mega Trends
7 Business Jets Market, by Aircraft Type
7.1 Introduction
7.2 Impact of Covid-19 on Aircraft Types
7.2.1 Most Impacted Aircraft Type Segment
7.2.2 Least Impacted Aircraft Type Segment
7.3 Light
7.3.1 Rising Demand for Inexpensive Ultra-Short-Haul Journeys is Driving the Growth of the Light Segment
7.4 Mid-Sized
7.4.1 Increase in Intercity Travel is Driving the Market for Mid-Sized Business Jets
7.5 Large
7.5.1 Increase in the Customization and High Demand for Extra Range in Business Aviation is Driving the Market for Large Business Jets
7.6 Airliners
7.6.1 Increasing Demand for VVIP Travel is Driving the Airliners Segment
8 Business Jets Market, by End USe
8.1 Introduction
8.2 Impact of Covid-19 on End USe of Business Jets
8.2.1 Most Impacted End USe Segment
8.2.2 Least Impacted End USe Segment
8.3 Private
8.3.1 Increasing USe for Personal, Corporate, and Governmental Purposes is Expected to Drive the Private Segment
8.4 Operator
8.4.1 Charter Services and Jet Card Programs Driving the Demand for Business Jets by Operators
9 Business Jets Market, by Point of Sale
9.1 Introduction
9.2 Impact of Covid-19 on Point of Sale of Business Jets
9.2.1 Most Impacted Point of Sale Segment
9.2.2 Least Impacted Point of Sale Segment
9.3 Oem
9.3.1 Conventional
9.3.1.1 Increasing Demand for Business Flights is Estimated to Drive the Conventional Segment
9.3.2 Hybrid-Electric
9.3.2.1 Electrification of Aircraft is Estimated to Drive the Demand for Hybrid Electric Propulsion in the Business Jets Market
9.4 Aftermarket
9.4.1 Maintenance, Repair, and Overhaul (MRO)
9.4.1.1 Increasing Maintenance and Overhaul of Existing Business Jets Fleet is Expected to Drive the Growth of the MRO Segment
9.4.2 Parts Replacement
9.4.2.1 Increase in Business Jet Flight Hours is Among the Factors Contributing to the Demand for Retrofit Parts for Aircraft
10 Business Jets Market, by Range
10.1 Introduction
10.2 Less Than 3,000 Nm
10.2.1 Rising Demand for Inexpensive Ultra-Short-Haul Flights Drives the Segment
10.3 3,000-5,000 Nm
10.3.1 Increase in Intercity Travel Drives Market for Mid-Sized Business Jets
10.4 More Than 5,000 Nm
10.4.1 Increase in Vvip Travel Across the Globe Boosts Segment Growth
11 Business Jets Market, by System
11.1 Introduction
11.2 Oem Systems
11.2.1 Aerostructures
11.2.2 Avionics
11.2.3 Aircraft Systems
11.2.4 Cabin Interiors
11.2.5 Doors, Windows, and Windshields
11.3 Aftermarket Systems
11.3.1 Aerostructures
11.3.2 Avionics
11.3.3 Aircraft Systems
11.3.4 Cabin Interiors
11.3.5 Doors, Windows, and Windshields
12 Business Jets Services Market
12.1 Introduction
12.2 Business Jets Services Market, by Type
12.2.1 Charter Services
12.2.1.1 Shared Private Jet Services to Help Optimize Charter Fleet Operations
12.2.2 Jet Card Programs
12.2.2.1 Debit as You Fly Program
12.2.3 Fractional Ownership
12.2.3.1 Shared Ownership With the Benefits of Charter Service
12.3 Aircraft Management Services
12.4 Business Jets Services Market, by Leasing Type
12.4.1 Wet Lease
12.4.1.1 Leasing An Aircraft With All Supporting Services - Short Term Lease
12.4.2 Dry Lease
12.4.2.1 Lease An Aircraft With No Additional Services - Long Term Lease
12.5 Reformations in the Business Jets Services Market Amidst Covid-19
13 Regional Analysis
13.1 Introduction
13.2 Impact of Covid-19 on Business Jets Market, by Region
13.3 3 Global Scenarios of Business Jets Market
13.4 North America
13.5 Europe
13.6 Asia-Pacific
13.7 Middle East
13.8 Latin America
13.9 Africa
14 Competitive Landscape
14.1 Introduction
14.2 Market Share Analysis
14.3 Competitive Scenario
14.3.1 Contracts and Agreements
14.3.2 New Product Launches
14.3.3 Investment, Certification, and Expansion
14.3.4 Other Strategies
15 Company Evaluation and Company Profiles
15.1 Competitive Analysis
15.2 Strength of Product Portfolio
15.3 Business Strategy Excellence
15.4 Company Profiles
15.4.1 Textron Inc.
15.4.2 Embraer S.A.
15.4.3 Gulfstream Aerospace
15.4.4 Pilatus Aircraft
15.4.5 Boeing
15.4.6 Airbus
15.4.6.1 Business Overview
15.4.6.2 Products Offered
15.4.6.3 Recent Developments
15.4.6.4 SWOT Analysis
15.4.6.5 Mnm View
15.4.7 Bombardier, Inc.
15.4.8 Dassault Aviation
15.4.9 Honda Aircraft Company
15.4.10 Syberjet Aircraft
15.4.11 Piper Aircraft Inc.
15.4.12 Startups
15.4.12.1 Volocopter GmbH
15.4.12.2 Eviation Aircraft
15.4.12.3 Zunum Aero
15.4.12.4 Lilium GmbH
15.4.12.5 Joby Aviation
15.4.12.6 Karem Aircraft Inc.
15.4.12.7 Lift
15.4.12.8 Xti Aircraft
15.4.12.9 Samad Aerospace
15.4.12.10 One Aviation Corporation
16 Business Jets Adjacent Markets
17 Appendix
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