The North America business jets market reached around USD 11.81 Billion in 2024. The market is projected to grow at a CAGR of 6.80% between 2025 and 2034 to reach nearly USD 22.80 Billion by 2034.
Base Year
Historical Year
Forecast Year
| North America Business Jets Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 11.06 |
| Market Size 2032 | USD Billion | 19.99 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 6.80% |
| CAGR 2024-2032 - Market by Country | Canada | 7.1% |
| CAGR 2024-2032 - Market by Type | Large Jet | 7.7% |
| 2023 Market Share by Country | Canada | 7.3% |
Business aviation plays a significant role in the U.S. economy, contributing $150 billion to economic output and providing employment for over 1.2 million individuals. Notably, only approximately 3% of the nearly 15,000 business aircraft registered in the United States are utilised by Fortune 500 companies. The remaining 97% are operated by a diverse array of entities, including government agencies, educational institutions, nonprofit organisations, and businesses of various sizes.
By the end of 2024, the volume of domestic business travel in the U.S. is anticipated to reach $442 million, reflecting an increase of about 89% compared to 2023, as reported by U.S. Travel. Furthermore, U.S. Travel estimates that international spending by U.S. travellers will amount to $28.7 billion by the end of 2024, which is about 78.8% of the figures recorded in 2019. By the year 2027, this spending is projected to increase to $29.8 billion.
The growing demand for corporate travel is driving an increase in the utilisation of business jets, as companies seek efficient and flexible transportation options. Business jets provide direct access to remote destinations, save valuable time, and enhance productivity by accommodating the demanding schedules of executives and high-priority travellers, thereby proving to be an essential asset for such travel needs.
Strong economic growth in the region, rise in corporate travel, advancements in aviation technology, and increasing popularity of charter services are the major trends impacting the North America business jets market expansion
The robust economic conditions in North America are driving increased expenditures by both corporations and affluent individuals on business jets. Enterprises and high-net-worth individuals are allocating resources towards private jets to facilitate efficient travel and capitalise on improved business prospects.
The growing need for adaptable and time-efficient travel is propelling the market forward. Organisations are utilising jets to enhance executive travel efficiency and to reach remote or less accessible destinations swiftly.
Advancements in aircraft design and avionics have significantly transformed the landscape of aviation, particularly in the realm of business jets. These innovations not only enhance the overall performance of the aircraft but also contribute to improved safety measures and greater fuel efficiency.
The increasing popularity of charter services and fractional ownership is democratising access to private jets, expanding the market beyond traditional full ownership and creating new opportunities for a wider range of customers to enjoy the advantages of private air travel.
Advances in jet technology are centred on improving performance, increasing fuel efficiency, and minimising environmental effects. Key developments encompass sophisticated avionics, enhanced aerodynamics, and the use of sustainable aviation fuels, which respond to rising environmental awareness and regulatory requirements for more eco-friendly aviation practices. Additionally, supportive regulations and upgraded airport infrastructure facilitate business aviation, streamlining private jet operations throughout North America.
North America Business Jets Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Breakup by Type
Breakup by Country
| CAGR 2024-2032 - Market by | Country |
| Canada | 7.1% |
| United States of America | XX% |
Based on country, the market is segmented into Canada and the United States. Canada is projected to grow at a CAGR of 7.1% during the forecast period of 2024-2032 due to the robust growth of the aviation sector and the rising number of ultra-high-net-worth individuals in the country.
Major players are focusing on the manufacturing of sustainable and technologically-equipped jets to gain a competitive edge in the market.
Airbus SE, established in 1970, is a multinational aerospace corporation based in Europe. The main focus of the company lies in the design and production of commercial aircraft; however, it also operates distinct divisions for defence, space, and helicopters.
Established in 2006, Honda Aircraft Company is an aircraft manufacturer based in North Carolina, the United St...
Cirrus Design Corporation, operating under the name Cirrus Aircraft, is an aircraft manufacturing company esta...
Textron Inc., an American industrial conglomerate established in 1923, is headquartered in Providence, Rhode I...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other major market players include General Dynamics Corporation, Bombardier Inc., Embraer SA, The Boeing Company, and Pilatus Aircraft Ltd., among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2024, the market attained a value of nearly USD 11.81 Billion.
The market is assessed to grow at a CAGR of 6.80% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025 -2034 to reach about USD 22.80 Billion by 2034.
The market is being driven by the rising economic activities in the region and the increase in the number of corporate air travel.
The key trends aiding the market expansion include the increasing manufacturing of sustainable and eco-friendly jets and the growing adoption of advanced aviation technologies.
The major types of business jets in the market are light jet, mid-size jet, and large jet.
The major countries considered in the market are the United States and Canada.
The major players in the market are General Dynamics Corporation, Bombardier Inc., Embraer SA, The Boeing Company, Airbus SE, Honda Aircraft Company, Cirrus Design Corporation, Textron Inc., and Pilatus Aircraft Ltd., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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