Global Business Jets Market Report and Forecast 2024-2032

Global Business Jets Market Outlook

The global business jets market is expected to expand from an estimated USD 33.12 billion in 2023 to USD 61.81 billion by 2032, at a CAGR of 7.2% over the forecast period of 2024-2032.

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In the global business jets market, high-profile aviation is expected to provide a boost to the business jets market in the coming years. These are cost-effective and a safe mode of transportation. Their capacity to conduct private business during flights, on-demand flight scheduling, decreased travel time, and immediate access to company locations are significant factors driving the growth of the market.

Market Segmentation

A private jet, business jet, or bizjet is a jet aircraft intended to carry small groups of individuals. Business jets can be tailored to other tasks, such as casualty evacuation process or express delivery of parcels, and some are used by public bodies, government officials or the armed forces. Business jets market can be divided on the basis of segments like aircraft type, end use, systems, services, and platforms.

The industry can be divided on the basis of its aircraft type as light, mid-sized, large, and airliners.

The industry can be broadly categorised on the basis of its end use into:

• Private
• Operators

The industry can be divided on the basis of its system as OEM and aftermarket. OEM is subdivided into aerostructures, avionics, aircraft systems, cabin interiors, doors, windows, and windshields. Aftermarket is subdivided into aerostructures, avionics, aircraft systems, and cabin interiors.

The industry can be divided on the basis of its services as charter services, jet card programs, debit as you fly programme, and fractional ownership.

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Further, the business jets market, based on platform, can be divided as:

• Fixed Wing 
  • Commercial
  • General & Business Aviation
  • Military
• Rotary Wing 
  • Civil & Commercial
  • Military

The EMR report looks into the regional business jets markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

Market Analysis

It is anticipated that increasing number of staff and the introduction of fresh aircraft programs will drive business jets market growth. During the forecast period, the light aircraft segment is expected to grow at the fastest rate. The growth of the light aircraft segment can be ascribed to its increasing use as business jets for inter and intracity transport, along with increased brand marketing for the product by the manufacturers. With the advancement in technology and rising middle class population, the industry is witnessing a further growth. Growing air mobility, especially in developed and developing nations, is anticipated to drive the business jet industry further.

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Competitive Landscape

The report presents a detailed analysis of the following key players in the global business jets market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Honeywell International Inc. (NYSE: HON)
• Safran S.A. (SAF (EPA))
• Curtiss-Wright Corporation (CW (NYSE))
• Collins Aerospace 
• Meggitt PLC (MGGT (LON))
• Eaton Corporation Inc (ETN (NYSE))
• Ametek, Inc. (AME (NYSE))
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.

Key Highlights of the Report