New York, February 6, 2023 /PRNewswire/ — A new research report [115+] A page with 360 degree visibility titled “Business Jet Market Share, Size, Trends, Industry Analysis Report, By Type; By Platform; By System (Propulsion, Aerostructures, Avionics, Others); By Region; Segment Forecast, 2022 – 2030” Published by Polaris Market Research in its research library.
Research reports show that the global Business jet market size and share is valued at $29.18 billion 2021 is expected to reach $41.82 billion by 2030Growth in CAGR of 4.17% during the forecast period.
What is a business jet? What is the business jet market share?
- Report Overview and Summary
A business jet is a type of jet designed for transporting small groups of people. They may be adapted to other roles, such as evacuating the wounded or delivering packages. The rapid growth in demand in the business jet market can be attributed to the fact that these jets save time, money and effort that can be invested in other business activities.
The extraordinary growth in the number of high net worth travelers over the past few years has created high demand for private aviation and the procurement of enhanced private jets globally. Furthermore, fleet modernization programs implemented by both developed and emerging economies to increase fleet capabilities have created demand for new charter services, improved cabin interiors, and advanced avionics.
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(This report sample is readily available upon request. The report sample contains a brief introduction to the research report, table of contents, graphical presentation of the regional analysis, top players in the market with their revenue analysis and our research methodology.)
Our sample reports may include:
- 2030 updated report introduction, overview and in-depth industry analysis.
- Research reports over 115 pages (including the latest research).
- Provides chapter guidance on requests.
- The regional analysis is updated in 2022 and graphically presents the size, share and trends.
- Includes updated tables and lists of figures.
- The updated report includes top market players along with their business strategies, volume and revenue analysis.
Key Figures Covered in the Market Report
- Global market trends cover a wide range of consumer and manufacturer trends.
- The value chain analysis covers players from raw material suppliers to downstream buyers in the market.
- Key market opportunities and challenges in the forecast time frame to focus on.
- Competitive landscape analysis, portfolio comparison, development trends and strategic management.
- Comprehensive company profiles of key industry players.
Some of the top market players are:
- Dassault Aviation
- Gulfstream Aerospace Corporation
- honda jet
- Zunum Air
- Joby Air
- Honeywell International
- Collins Aerospace
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Key Factors Driving Market Growth
- Increased participation in fractional ownership schemes to drive the market
High net worth individuals lead international lifestyles and are key stakeholders in the global general aviation business. Therefore, frequent long-distance flights are necessary for them. The business jet market is growing as, in addition to owning private jets, they often charter them or participate in fractional ownership schemes. For ultra-high net worth individuals, using a private jet is a practical and affordable way to meet their busy schedules in many countries and time zones.
In recent years, several manufacturers have been building modern business jets with an emphasis on improving the passenger experience and fuel efficiency. Sales in the business jet market are soaring as new models are introduced and more customers are attracted; some manufacturers are looking to increase their level of competition in the market and enable integration on modern business jets by implementing new safety and emissions standards Complex subsystems and cutting-edge technologies are possible.
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Recent trends affecting the market
- Long-distance flight capability driving the market with less fuel consumption
The main aircraft types in the market are light, medium, large business jets and airliner business jets. A business jet, sometimes called a personal or micro jet, is a small business jet that seats 4-8 passengers. Light jets can fly long distances at high speeds while consuming very little fuel. Systems used in business jets include propulsion systems, aerostructures, avionics, and more.
Technological advancements such as fighter jet technology in business jets with advanced safety features, largest cabins, innovative flight decks and other features. Major players are focused on launching technologically advanced business jets to provide customers with an unparalleled experience with all the safety features.
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- Exponential growth in the light business jet segment
Based on type, light business jets are the largest segment of the industry. The market for light aircraft for private jets is expanding as demand for intercity travel increases. But the fact that business jets are inexpensive and suitable for short-haul combat also helps increase demand for these vehicles. Demand is growing in the business jet market, as these state-of-the-art aircraft developments will soon bring a host of new aircraft designs and business models to the aviation industry.
- The on-demand segment will take a higher market share
Based on this platform, the on-demand service segment will occupy a higher market share. The reason is the growing demand for new business jets in the United States, Chinaand UAE. Business jet market trends including developed and emerging economies with many private jet service providers are contributing to the growth.
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Business Jets Market: Report Scope and Trends
2030 Revenue Forecast
Market size value in 2022
4.17% from 2022 – 2030
2022 – 2030
top market players
Airbus SAS, Boeing, Bombardier, Dassault Aviation, Embraer, Gulfstream Aerospace, HondaJet, Textron, Aircraft, Zunum Aero, Joby Aviation, Honeywell International, Collins Aerospace and Ametek.
Market segments covered
By type, by platform, by system, by region
Custom purchase options are available to meet any research need. Explore custom buying options
- Rising demand for electric jets drives North American market
North America The U.S. holds the most significant business jet market share owing to the presence of key players, growing demand for electric jets, and presence of strong infrastructure.U.S. demand for the product rises Canada There is currently a push to adopt business jets in the region. In 2019, North America About 71% of all private jets, of which Europe About 13%.6,362 New Jet Sales Value Expected $217.5 billion Between 2020 and 2029.
Browse detailed report “Business Jet Market Share, Size, Trends, Industry Analysis Report, By Type; By Platform; By System (Propulsion, Aerostructures, Avionics, Others); By Region; Segment Forecast, 2022 – 2030” With a deep catalog: https://www.polarismarketresearch.com/industry-analysis/business-jet-market
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Polaris Market Research segments the business jet market report by type, platform, system, and region:
Outlook by type
- light business jet
- midsize business jet
- large business jet
Outlook by platform
- on demand service
- Aircraft Management Services
Outlook by system
- propulsion system
- aviation structure
Outlook by Region
- North America (us, Canada)
- Europe (France, GermanyU.K, Italy, Netherlands, Spain, Russia)
- Asia-Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- middle East & Africa (Saudi ArabiaUnited Arab Emirates, Israel, South Africa)
About Polaris Market Research
North Star Market Research is a global market research and consulting company. The firm specializes in providing superior market intelligence and in-depth business research services to PMR’s clients across businesses. Polaris has an obligation to serve PMR’s diverse customer base spanning the healthcare, technology, semiconductor and chemical industries around the world. We strive to provide PMR’s clients with the latest information on innovative technologies, high-growth markets, emerging business environments and the latest business-focused applications, helping them to consistently make informed decisions and capitalize on new opportunities. Polaris has a team of highly competent, experienced and highly qualified specialists comprising SMEs, analysts and consultants, we are committed to providing value added business solutions to PMR’s clients.
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SOURCE Polaris Market Research