Business Aircraft Market Size, Worldwide Market Share, Growth Factor, Statistics & Facts and Competitive Landscape Analysis by Leading Key Players Like Bombardier, Gulfstream Aerospace Corporation, Cessna Aircraft Company, Dassault Aviation, Embraer, Pila

Business Aircraft Market 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 (US, UK, APAC etc.) – Global Forecast till 2023

The Middle East remains a promising market for business aircraft. Thus, The Global Business Aircraft Market is estimated to register approximately 7% CAGR from 2018 to 2023.

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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.), and Textron Aviation (U.S.).

Business Aircraft Industry 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.

Business aircraft started out as a private jet, as the size of the aircraft could only accommodate maximum two individuals. Since the introduction of private jet, the private and charter jet industry have rapidly grown.

For instance, Learjet built the first light purpose-built jet, the Learjet 23. It had a speed of 561 miles per hour and carried a heavy engine. Business aircraft have improved significantly in the past five decades, from gas-guzzling go-getters to today’s highly efficient, long-legged luxury liners and tiny personal jets. Business jets were always a strong part of a company brand image, which appeared even important to highly capitalized companies.

Business Aircraft Industry Updates:

In October 2018, General Electric Aviation, a subsidiary of General Electric and one of the top aircraft engine suppliers, has announced the initial design phase for its new supersonic Affinity engine has been completed and will be installed in Aeron AS2 business aircraft.

In October 2018, Bombardier, one of the leading players in business aircraft market, has announced that Latitude 33 Aviation, a private jet charter, aircrafts sales and executive jet management company, has taken the delivery of a new Challenger 350 business aircraft.

In October 2018, Embraer, a Brazilian aerospace conglomerate, has announced the launch of its new business aircraft, Praetor 500 midsize and Praetor 600 super-midsize business jets during a company event at Orlando Executive Airport.

In October 2018, Viasat, a global communication company, has entered an exclusive distributor agreement with StandardAero, a maintenance, repair and overhaul service provider, to offer a high-speed connectivity package for Bombardier Global business jets.

Table of Content:

1 Introduction

1.1 Definition

1.2 Scope of Study

1.3 Research Objective

1.4 Assumptions & Limitations

1.5 Market Structure

2 Research Methodology

2.1 Research Process

2.2 Primary Research

2.3 Secondary Research

3 Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

3.5 Macroeconomic Indicators

4 Market Factor Analysis

Continue….

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