The global business jet market was worth USD 20.9 billion in 2013 and is projected to grow at a CAGR of 6.86% to USD 33.8 billion by the end of 2020. Both North America and Europe are showing recovery in business jets market demand.
PUNE, INDIA – Study of the Global Business Jets Market 2015 and Global Business Jet Market 2015-2019 by RnR Market Research are the latest aviation research reports that review the business jet industry with information on its players, current status and forecasts. This report on business jet market is available as single-site single-user license. The delivery time for the electronic version of the report is immediate. The delivery time for hard copies is approximately 3 business days.
The global business jet market was worth USD 20.9 billion in 2013 and is projected to grow at a CAGR of 6.86% to USD 33.8 billion by the end of 2020. Both North America and Europe are showing recovery in business jets market demand. While both the regions have a comparable size of economy, the private jet flight activity in North America is 3.5 times larger. In the Asian region, the players are focused on China and India. It is expected that in the next decade the business aviation industry in India will grow three times and emerge as the third largest aviation market by 2020.
The global business jet market demand which was nearly halved during the financial crisis has now improved and large players are launching new models in the wake of increasing demand from Middle East, Asia and North America. Although the corruption crackdown and the new government’s policies have slowed the economic pace of China, business jet market outlook is still bright. The Greater China area is expected to take delivery of 2,420 business jets in the period 2013 to 2032. This business jet market 2015 research highlights key drivers of and trends emerging in the global business jet market. The current market scenario and future prospects of the sector has been examined in detail. The North America, Europe, China and India business jets market have been studied in detail. All key global players in the business jet market including Gulfstream Aerospace Corp., Bombardier Inc., Cessna Aircraft, Honeywell International Inc., Embraer S.A. and Dassault Aviation have been profiled.
The Global Business Jet Market 2015-2019 research report says replacement of old generation business jets with new aircraft models is one of the key trends upcoming in business jet market. There has been growth in on-demand air travel and business jets associated with charter and air taxi fleets. An increase in demand for business jets from the Americas and the EMEA and APAC regions is one of the key factors propelling the market growth. The ease of financing facilitated by low interest rates has also resulted in an increase in ownership of business jets.
Further, this second research on business jet market for 2015-2019 states that environmental regulations restricting the operations of old business jets that do not meet the noise standards or emission criteria have remained a challenge in the market. Similarly, the current European crisis, as a result of political tension and economic slowdown, has adversely affected the market. The report provides the segmentation of the market by aircraft type and by region. The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive business jet market and vendor landscape in addition to a SWOT analysis of the key vendors.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
