The business jet market size is expected to grow from USD 95.80 billion in 2024 to USD 156.99 billion by 2032, at a CAGR of 6.4% from 2024 to 2032. The increasing technological advancements such as innovations in aircraft design and onboarded amenities are attracting more buyers. The increased focus on improving passenger experience and enhancing operational efficiency is driving the business jet market. However, complex rules and regulations for business jet certification a high maintenance cost are limiting the overall growth of the market.
In terms of end use, the business jet market is divided into private users, operators. The aircraft type segment includes light, mid-size, large and airliner. The point-of-sale segment includes pre-owned, OEM and aftermarket. Based on the range, the business jet market is further segmented into less than 3000 Nm, 3000 - 5000 Nm and more than 5000 Nm. The system segment is divided into OEM systems and Aftermarket systems. This report segments the business jet market across six key regions: North America, Europe, Asia Pacific, Latin America, Middle East and Africa along with their respective key countries. The report's scope includes in-depth information on significant factors, such as drivers, restraints, challenges, and opportunities, which influence the growth of the business jet market.
A comprehensive analysis of major industry players has been conducted to provide insights into their business profiles, solutions, and services. This analysis also covers key aspects like agreements, collaborations, new product launches, contracts, expansions, acquisitions, and partnerships associated with the business jet market.
The Large aircraft type segment is expected to hold the highest market share in 2024.
Based on aircraft type, the large aircraft segment of the business jet market is estimated to have highest market share in 2024. Large business jets are equipped with a large and spacious cabin with advanced avionics, luxury and comfort. These are mostly preferred for long-haul travel. The increased demand for intercity travel is driving the growth of large business jets. The increased international travel by high-net-worth individuals (HNWIs) and corporations is also adding to the overall growth of business jet market.The private user segment of end use is expected to hold the largest share in 2024.
Based on end use, the private user segment is expected to hold the largest share in 2024. The desire for privacy, flexibility and convenience is driving the market for private users. Additionally, due to the fact that the private users can customize their aircraft as per their preferences and have a complete control over travel schedule is expected to drive this market segment. Increasing trend of adopting fractional ownership or leasing the aircraft to reduce costs is also driving the private user segment.Europe is projected to have the second highest share in 2024.
Europe is projected to account for the second largest share of the business jet market in 2024. Europe emphasis more on sustainability, with increasing interest in eco-friendly operations and sustainable aviation fuels. The presence of major electric aircraft manufacturers such as lilium (Germany), Vertical Aerospace (UK), Heart Aerospace (Sweden) among others. The strong demand for business travel among European countries and neighboring countries is expected to drive the market. European private jet market is fueled by the robust market for used/re-sale private jets.Break-up of profiles of primary participants in the business jet market
- By Company Type: Tier 1 - 35%, Tier 2 - 54%, and Tier 3 - 20%
- By Designation: C-Level Executives - 35%, Directors - 25%, and Others - 40%
- By Region: North America - 40%, Europe - 20%, Asia Pacific - 30%, Latin America - 5%, Middle East - 3%, Africa - 2%
Research Coverage
:In terms of end use, the business jet market is divided into private users, operators. The aircraft type segment includes light, mid-size, large and airliner. The point-of-sale segment includes pre-owned, OEM and aftermarket. Based on the range, the business jet market is further segmented into less than 3000 Nm, 3000 - 5000 Nm and more than 5000 Nm. The system segment is divided into OEM systems and Aftermarket systems. This report segments the business jet market across six key regions: North America, Europe, Asia Pacific, Latin America, Middle East and Africa along with their respective key countries. The report's scope includes in-depth information on significant factors, such as drivers, restraints, challenges, and opportunities, which influence the growth of the business jet market.
A comprehensive analysis of major industry players has been conducted to provide insights into their business profiles, solutions, and services. This analysis also covers key aspects like agreements, collaborations, new product launches, contracts, expansions, acquisitions, and partnerships associated with the business jet market.
Reasons to buy this report:
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall business jet market and its subsegments. This report covers the entire ecosystem of the business jet, and disruptive technologies. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.The report provides insights on the following pointers:
- Analysis of the key drivers (Increased advancements in hybrid & electric technologies, High demand for digitalization, Need for enhanced productivity and efficiency by business jet users, Increase in number of high-net-worth individuals), restraint (High maintenance cost, complex rules and regulations for business jet certifications), opportunities (Need for charter services and fractional ownership, Increased emphasis on use of SAF for business aviation), and challenges (Increase shortage for pilots and aircraft maintenance engineers, Rising supply chain disruptions, Increasing delays due to ATC and airport access) these are several factors that could contribute to an increase in the business jet market.
- Market Penetration: Comprehensive information on business jet offered by top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the business jet market
- Market Development: Comprehensive information about lucrative markets - the report analyzes the business jet market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the business jet market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the business jet market
Table of Contents
1 Introduction
2 Research Methodology
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Business Jet Market, by Aircraft Type
8 Business Jet Market, by End Use
9 Business Jet Market, by Point of Sale
10 Business Jet Market, by Range
11 Business Jet Market, by System
12 Business Jet Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Appendix
List of Tables
List of Figures
Companies Mentioned
- Bombardier
- General Dynamics Corporation
- Textron Inc.
- Dassault Aviation
- Embraer
- Pilatus Aircraft Ltd
- Airbus
- Boeing
- Cirrus Aircraft
- Piaggio Aero Industries
- Piper Aircraft, Inc.
- Deutsche Aircraft GmbH
- Eclipse Aerospace, Inc.
- Honda Aircraft Company, LLC
- Lilium N.V.
- Sirius Aviation AG
- Electra Aero
- Eviation
- Vaeridion GmbH
- Aura Aero
- Heart Aerospace
- Lyte Aviation
- New Horizon Aircraft Ltd
- Aerofugia Technology Co. Ltd
- Overair, Inc
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 272 |
Published | September 2024 |
Forecast Period | 2024 - 2032 |
Estimated Market Value ( USD | $ 95.8 Billion |
Forecasted Market Value ( USD | $ 156.99 Billion |
Compound Annual Growth Rate | 6.4% |
Regions Covered | Global |
No. of Companies Mentioned | 25 |