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Report
Global Business Jets Market Report and Forecast 2024-2032
Market Report I 2023-11-08 I 168 Pages I EMR Inc.
Global Business Jets Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the global business jets market reached a value of USD 30.9 billion in 2023. Aided by the burgeoning elite clientele and the rising significance of time efficiency in an ever-globalising world, the market is projected to further grow at a CAGR of 7.2% between 2024 and 2032 to reach a value of USD 55 billion by 2032.
Business jets, synonymous with luxury, efficiency, and exclusivity, cater primarily to corporations, high-net-worth individuals, and government agencies. More than just a status symbol, these aircraft offer unparalleled advantages such as direct flights to destinations not covered by commercial airlines, stringent security protocols, and personalised services. They act as enablers for swift and confidential business dealings, making them an invaluable asset in the corporate arsenal.
A primary force driving the global business jets market growth is the escalating global corporate culture, wherein time is equated with money. Direct flights, devoid of layovers, not only save travel time but also significantly reduce the fatigue and stress associated with frequent travel. As global business operations expand, top executives need the agility offered by business jets to facilitate face-to-face interactions, crucial deal closures, and real-time decision-making.
The evolution and diversification of the business jet's portfolio have further amplified business jets market demand. Manufacturers have fine-tuned their offerings, presenting a range from light jets suitable for shorter distances to long-range and ultra-long-range jets capable of intercontinental travel. The interior customisation possibilities, embracing office spaces, bedrooms, and gourmet kitchens, ensure that productivity isn't hampered, even at height of 40,000 feet.
Moreover, economic growth in emerging markets has created a fresh echelon of entrepreneurs and business magnates, expanding the potential clientele for business jets. As per the business jets market analysis, regions like Asia-Pacific and the Middle East, witnessing rapid industrial growth and infrastructure development, are becoming prominent markets for these luxury aircraft.
Additionally, the increasing accessibility of fractional ownership and jet card programs has democratised the usage of business jets. These models allow individuals and businesses to enjoy the benefits of private jet travel without the associated ownership costs, ensuring a broader user base and sustained growth in value for the global business jets market size.
Market Segmentation
The market can be divided based on aircraft type, end use, systems, services, platform, and region.
Market Breakup by Aircraft Type
- Light
- Mid-Sized
- Large
- Airliners
Market Breakup by End Use
- Private
- Operators
Market Breakup by Systems
- OEM
o Aerostructures
o Avionics
o Aircraft Systems
o Cabin Interiors
- Aftermarket
o Aerostructures
o Avionics
o Aircraft Systems
o Cabin Interiors
Market Breakup by Services
- Charter Services
- Jet Card Programs
- Debit as You Fly Program
- Fractional Ownership
Market Breakup by Platform
- Fixed Wing
o Commercial
o General and Business Aviation
o Military
- Rotary Wing
o Civil and Commercial
o Military
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global business jets market. Some of the major players explored in the report by Expert Market Research are as follows:
- 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
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Business Jets Market Analysis
8.1 Key Industry Highlights
8.2 Global Business Jets Historical Market (2018-2023)
8.3 Global Business Jets Market Forecast (2024-2032)
8.4 Global Business Jets Market by Aircraft Type
8.4.1 Light
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Mid-Sized
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Large
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Airliners
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.5 Global Business Jets Market by End Use
8.5.1 Private
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Operators
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.6 Global Business Jets Market by Systems
8.6.1 OEM
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.1.4 Breakup by Type
8.6.1.4.1 Aerostructures
8.6.1.4.2 Avionics
8.6.1.4.3 Aircraft Systems
8.6.1.4.4 Cabin Interiors
8.6.2 Aftermarket
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.2.4 Breakup by Type
8.6.2.4.1 Aerostructures
8.6.2.4.2 Avionics
8.6.2.4.3 Aircraft Systems
8.6.2.4.4 Cabin Interiors
8.7 Global Business Jets Market by Services
8.7.1 Charter Services
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Jet Card Programs
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Debit as You Fly Program
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Fractional Ownership
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.8 Global Business Jets Market by Platform
8.8.1 Fixed Wing
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2023)
8.8.1.3 Forecast Trend (2024-2032)
8.8.1.4 Breakup by Type
8.8.1.4.1 Commercial
8.8.1.4.2 General and Business Aviation
8.8.1.4.3 Military
8.8.2 Rotary Wing
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2023)
8.8.2.3 Forecast Trend (2024-2032)
8.8.2.4 Breakup by Type
8.8.2.4.1 Civil and Commercial
8.8.2.4.2 Military
8.9 Global Business Jets Market by Region
8.9.1 Market Share
8.9.1.1 North America
8.9.1.2 Europe
8.9.1.3 Asia Pacific
8.9.1.4 Latin America
8.9.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyer's Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Honeywell International Inc. (NYSE: HON)
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Meggitt PLC (LON: MGGT)
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Collins Aerospace
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Eaton Corporation Inc (NYSE: ETN)
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Ametek, Inc. (NYSE: AME)
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Safran S.A. (SAF (EPA))
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Curtiss-Wright Corporation (CW (NYSE))
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Business Jets Market: Key Industry Highlights, 2018 and 2032
2. Global Business Jets Historical Market: Breakup by Aircraft Type (USD Million), 2018-2023
3. Global Business Jets Market Forecast: Breakup by Aircraft Type (USD Million), 2024-2032
4. Global Business Jets Historical Market: Breakup by End Use (USD Million), 2018-2023
5. Global Business Jets Market Forecast: Breakup by End Use (USD Million), 2024-2032
6. Global Business Jets Historical Market: Breakup by Systems (USD Million), 2018-2023
7. Global Business Jets Market Forecast: Breakup by Systems (USD Million), 2024-2032
8. Global Business Jets Historical Market: Breakup by Services (USD Million), 2018-2023
9. Global Business Jets Market Forecast: Breakup by Services (USD Million), 2024-2032
10. Global Business Jets Historical Market: Breakup by Platform (USD Million), 2018-2023
11. Global Business Jets Market Forecast: Breakup by Platform (USD Million), 2024-2032
12. Global Business Jets Historical Market: Breakup by Region (USD Million), 2018-2023
13. Global Business Jets Market Forecast: Breakup by Region (USD Million), 2024-2032
14. North America Business Jets Historical Market: Breakup by Country (USD Million), 2018-2023
15. North America Business Jets Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Europe Business Jets Historical Market: Breakup by Country (USD Million), 2018-2023
17. Europe Business Jets Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Asia Pacific Business Jets Historical Market: Breakup by Country (USD Million), 2018-2023
19. Asia Pacific Business Jets Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Latin America Business Jets Historical Market: Breakup by Country (USD Million), 2018-2023
21. Latin America Business Jets Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Middle East and Africa Business Jets Historical Market: Breakup by Country (USD Million), 2018-2023
23. Middle East and Africa Business Jets Market Forecast: Breakup by Country (USD Million), 2024-2032
24. Global Business Jets Market Structure
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