Press release
Business Jet Market Research Report 2022, Size, Share, Trends and Forecast to 2027
A business jet, also known as bizjet or private jet, is a specially designed aircraft for transporting a small group of people. There are different classes of business jets available like light, mid-size, large, and long-range jets. They offer privacy, minimize traveling time, and provide the facility of quick flight scheduling. As a result, business jets are used by government officials, corporates, sportspeople, as well as by individuals for VVIP transport, leisure travel, and business tours. Apart from transporting people, business jets are also utilized for express parcel deliveries, evacuation of casualties, and for exchanging goods for government officials.
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Market Trends
The increasing penetration of business aviation, especially in emerging economies, is one of the major growth-inducing factors of the market. Continuous wealth generation in mature markets is also bolstering the market growth. Additionally, a rise in the demand for long-range jets has been witnessed in the aviation industry as they offer optimum performance and comfort to individuals. Apart from this, business jet operators are expanding their portfolio by extending membership programs like private jet cards and member plans through which users can get negligible blackout dates, reduced rates, and additional fleet options. Moreover, fleet retirement faced by operators in branded charters and fractional ownership arena are compelling them to replace their existing jets with the latest ones, thereby fueling the market growth. Furthermore, technological innovation is playing a crucial role in the growth of the market as new players are focusing on the development of light jets with more comfortable interiors. On account of these factors, the market is expected to exhibit a CAGR of 4.4% during the forecast period (2022-2027).
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List of Key Companies Covered in this Market Report:
Airbus
Bombardier Inc.
Dassault Aviation
Embraer S.A.
Gulfstream Aerospace
Honda Aircraft Company
Pilatus Aircraft
Piper Aircraft
Saab AB
Textron Inc.
The Boeing Company
The report has segmented the market on the basis of type, business model, range, point of sale and geography.
Breakup by Type:
Light
Medium
Large
Breakup by Business Model:
On-Demand Service
Air Taxis
Branded Charters
Jet-Card Programs
Ownership
Fractional Ownership
Full Ownership
Breakup by Range:
< 3,000 NM
3,000 - 5,000 NM
> 5000 NM
Breakup by Point of Sale:
OEM
Aftermarket
Breakup by Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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