Business Aircraft Market: Global Analysis by Aircraft Type (Fixed Wing (Light Jets, Mid-Size Jets, and Heavy Jets) and Rotary Wing), Service (Fractional Ownership, Charter, & Jet Card Programs), Application (Tourism, VIP Transportation, & Others) and Region – Global Forecast till 2023
The Global Business Aircraft Market Is Estimated to Register Approximately 7% CAGR from 2018 to 2023.
Business Aircraft Market Key Players
The Key Players In The Global Business Aircraft Market Are:
- Bombardier Inc. (Canada)
- Gulfstream Aerospace Corporation (U.S.)
- Cessna Aircraft Company (U.S.)
- Dassault Aviation S.A. (France)
- Embraer S.A. (Brazil)
- Pilatus Aircraft Inc.(Switzerland)
- Saab AB (Sweden)
- Piper Aircraft (U.S.)
- Honda Aircraft Company (U.S.)
- Textron Aviation (U.S.).
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Business Aircraft Market Scenario:
Business aircraft are an integral part of the business aviation industry. A business aircraft is a jet aircraft designed for transporting small groups of people. Business jets can be adapted for other roles as per requirements by public bodies, government officials, or armed forces, such as evacuation of casualties or express parcel deliveries.
Business aircraft is strongly correlated with new orders, deliveries, and high net order expectations. There are about more than 30,000 business aircraft around the world. The rise in popularity of the need for long-range aircraft in the aviation industry is expected to drive the market during the forecast period. However, there are some shortcomings in the business aircraft market, such as economic uncertainty and financial slowdown in the number of the operational business aircraft.
Every type of aircraft is different in terms of price change and technology. Light jets behave in one manner, mid-size jets in another, and heavy jets behave differently for the sake of complexity, and comparable types of different manufacturers also behave differently, as well as various models of the same OEM belonging to business jets.
These are the same trends in certain time periods that greatly resemble that of economic bubbles. As trading bubbles may be the main reason for aircraft prices soaring, they will never be the only reason. There has to be something else, many more factors affecting the price.
The factors responsible for the growth of business aircraft market is the significant growth in global economies and the simultaneous improvement of the aviation industry. Other key drivers expected to contribute towards the growth of the business aircraft market is the demand for long-range flights, rapidly growing individual purchasing power, and staggering profits of multinational firms and organizations.
For instance, the introduction of new aircraft programs will generate new orders, and international expansion will witness the market growth during the forecast period.
Report Competitive Analysis:
The report for Global Business Aircraft Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market.
The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.