Business Jet Market

Business Jet Market by Aircraft Type (Light, Mid-Sized, Large, Airliner), Systems (OEM Systems, Aftermarket Systems), End-User (Private, Operator), Point of Sale (OEM, Aftermarket), Services, and Region - Global Forecast to 2030

Report Code: AS 2713 Oct, 2019, by marketsandmarkets.com
Updated date -

The business jet market is projected to grow from an estimated USD 24.7 billion in 2019 to USD 36.4 billion by 2030, at a CAGR of 3.6% during the forecast period. An increasing number of high net worth personnel and the introduction of new aircraft programs are expected to drive the growth of the market.

Business Jet Market

Key Market Dynamics of Business Jet Market:

Introduction of new programs

Manufacturers in the business jets industry are focusing on improving passenger experience and increasing operational efficiency. Lowering carbon footprints, reducing operational cost, and upgrading avionics, cabin interiors, and aircraft systems are some of the areas of focus for manufacturers. This has resulted in the introduction of new aircraft programs. Embraer launched the Legacy 650E in 2016, and the Praetor 500 and the Praetor 600 in 2018. Bombardier launched the Global 5500 and the Global 6500 in 2018. Cessna launched the Citation Longitude in 2016, Honda launched the Honda Jet Elite in 2018, and Daher launched the TBM 910 in 2017 and the TBM 940 in 2019.

New generation business jets provide more efficiency, range, and performance at comparable prices. New aircraft programs enhance the demand for the replacement of existing aircraft and attract first-time buyers. The demand for business jets has increased with the introduction of latest technologies such as advanced avionics, interiors, connectivity solutions, and more efficient engines, as buyers feel safer and technically-advanced when they own a new technology-based aircraft. With the introduction of new technologies, sales of older aircraft tend to slow down; hence, new aircraft programs drive the growth of business jets market.

Lengthy period of product certification from aviation authorities

Business jet manufacturers are required to obtain product certification before launching a new model in the market. However, the process to acquire certification is lengthy, resulting in delays. Safety is the most important parameter considered while providing certification, where zero deviation is acceptable. For manufacturers to reach this level, multiple tests and iterations are needed. This adds to the delay in the production process of the company, leading to market size loss. The time lag due to certification issues leads to the loss of booked orders, restricting market growth.

The Federal Aviation Administration (FAA) approves the production certification in the North American region, and it has been observed that FAA delays providing certifications. The delays can be as long as 2 to 4 years. For instance, Bombardier received certification for its Global 7500 two years after its first successful test flight. Similarly, companies such as Gulfstream, Embraer, and others have faced delays in certification from regulatory authorities, which is a major factor restraining the growth of the business jets market.

eVTOL aircraft

Business jets are being used for intercity travel by businessmen and companies to save time. However, intracity travel has become congested, which increases the travel time within a city. In such cases, traditional business jets cannot be used, as they take off from and land at airports, the availability of which is mostly restricted to one in each city. For intracity travel, VTOL aircraft can be beneficial as they can take off and land at multiple vertiports within a city. With eVTOL aircraft, the ease of travel within the city increases as they are cheaper and less noisy. eVTOL aircraft are part of urban air mobility. For the concept to commercialize, there is a need for technological advancements in terms of battery capacity; building infrastructure such as vertiports and charging pods; and robust regulatory framework. With the advent of eVTOL technology, the business jets market is expected to witness growth, as the demand is already present in the market.

Rising fuel prices

The business jets market faces the challenge of rising fuel prices. Customers tend to decline purchases as they may not wish to spend excessively on operating a business jet after investing hugely in acquiring the jet. In addition, not every nation has the budget to purchase business jets and costly fuel. The business jets services market also gets impacted largely, as the higher fuel price is, the higher is the cost of charter services, subsequently impacting all the operators in the market. The rise in fuel prices results in budget issues, which adversely impacts market growth. High fuel prices have made the growth of the business jets market sluggish in some countries. Hence, the rising fuel prices pose a challenge for the market.

The light aircraft segment is projected to grow at the highest CAGR during the forecast period

Typically, light, mid-sized, large, and airliner are the four types of business jets available. The light segment is projected to grow at the highest CAGR during the forecast period. Growth of this segment can be attributed to the anticipated commercialization of air taxis, which will be used as business jets for inter and intracity travel. Growth of urban air mobility between 2025 to 2030 is expected to drive the overall business jets market further.

The OEM segment accounts for the largest market size during the forecast period.

Based on the point of sale, the market has been segmented into OEM and aftermarket. The OEM segment accounts for the largest market size during the forecast period. The OEM segment is the total OEM market size for conventional and futuristic business jets. Also, OEM is the fastest-growing market during the forecast period; this growth attributed to the introduction of new aircraft programs, and the commercialization of electric & hybrid business air vehicles. Cost of aftermarket, which includes Maintenance, Repair, and Operations (MRO) cost and parts replacement, is low when compared to the overall OEM market, hence OEM segment leads the business jets market during the forecast period.

Operator segment of business jest market is expected to grow at the highest CAGR during the forecast period

Based on the end-user, the business jets market has been segmented into private, and operator. Operator segment is expected to grow at the highest CAGR during the forecast period. The burden of depreciation cost and high operating & maintenance cost of private ownership is driving the growth of this segment. Operators have options to optimize their operations through multiple customers

Aircraft systems sub-segment of OEM systems in business jet market accounts for the largest market size during the forecast period.

Based on systems, the business jets market has been segmented into OEM systems and aftermarket systems, which are segmented further into aerostructures, avionics, aircraft systems, cabin interiors, and doors, windows, and windshields. Aircraft systems, a sub-segment of OEM systems, is poised to account for the largest market share during the forecast period. This sub-segment includes systems such as propulsion systems, electrical systems, hydraulic systems, pneumatic systems, environmental control systems, emergency systems, and landing systems. As these systems are the backbone for the functioning of an aircraft, they together account for major aircraft cost, hence are anticipated to hold the largest market share.

Business Jet Market

Business Jet Market in North America is expected to account for the largest share in 2019

The business jets industry has been studied for North America, Europe, Asia Pacific, Middle East, Latin America, and Africa. North America is estimated to account for the largest share of the global market in 2019. This can be attributed to the presence of a large number of high-net-worth individuals coupled with the existence of major business jet manufacturers such as Textron (US), Bombardier (Canada), and Gulfstream (US), among others.

Additionally, the availability of airports across North America enables ease in business travel across the region. Geographically, North America is the biggest region, by area, hence it is critical for business travelers to opt for the fastest mode of transport to save time, resulting in increasing demand for business jets.

Major players operating in the business jet market include Bombardier (Canada), Embraer  (Brazil), Textron, Inc. (US), Gulfstream (US), Airbus (Netherland), and Boeing (US), among others. Startups such as Eviation Aircraft, Zunum Aero, and XTI aircraft are some of the companies focusing on launching and commercializing their business jets before 2025.

Scope of the report

Report Metric

Details

Market size available for years

2017-2030

Base year considered

2018

Forecast period

2019-2030

Forecast units

Value (USD)

Segments covered

Aircraft type, End-User, Systems, Point of Sale, Services

Geographies covered

North America, Europe, APAC, Latin America, Middle East, and Africa

Companies covered

Embraer (Brazil), Textron, Inc. (US), Gulfstream (US), Airbus (Netherland), and Boeing (US).Total 10 major players and nine startups are profiled

Business Jet Market Segmentation:

This research report categorizes the Business Jets market into the following segments and subsegments:

Business Jets Market, By Aircraft Type

  • Light
  • Mid-sized
  • Large
  • Airliner

Business Jets Market, By End-User

  • Private
  • Operator

Business Jets Market, By the Point of Sale

  • OEM
    • Conventional
    • Hybrid & Electric
  • Aftermarket
    • MRO
    • Parts Replacement

Business Jets Market, By Systems

  • OEM Systems
    • Aerostructures
    • Avionics
    • Aircraft Systems
    • Cabin Interiors
    • Doors, Windows, and Windshields
  • Aftermarket Systems
    • Aerostructures
    • Avionics
    • Aircraft Systems
    • Cabin Interiors
    • Doors, Windows, and Windshields

Business Jets Market, By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Recent Developments

  • In July 2019, Bombardier launched the Learjet 75 Liberty, a light business jet.
  • In June 2019, EmbraerX unveiled a new electric flying vehicle concept during Uber Elevate Summit 2019 in Washington, D.C. The aircraft concept, with electric vertical take-off and landing capability, is part of the EmbraerX multi-project approach. The company is working on a collaborative effort with Uber to enable and accelerate the urban mobility ecosystem.
  • In May 2019, Embraer announced that the company’s new Praetor 600 super-mid-sized business jet was granted Type Certificate by the EASA (European Union Aviation Safety Agency) and the FAA (Federal Aviation Administration).
  • In May 2019, Gulfstream Aerospace announced that the Gulfstream G650TM and flagship Gulfstream G650ERTM had been certified for steep approach by the US Federal Aviation Administration, allowing the ultra-long-range aircraft to access even more airports worldwide
  • In January 2019, Bell Helicopter, a Textron Inc. company, revealed the configuration of a full-scale vertical-takeoff-and-landing (VTOL) air taxi vehicle during CES 2019. The air taxi, named Bell Nexus, is powered by a hybrid-electric propulsion system and features Bell’s signature powered lift concept incorporating six tilting ducted fans that are designed to safely and efficiently redefine air travel.

Key Questions addressed by the report

  • What is the impact of upcoming disruptive technologies such as elect-hybrid propelled aircraft on Business Jets Market
  • Which systems have increasing demand from Aftermarket in business jets market?
  • How are the market players in the industry addressing challenges such as Unavailability of infrastructure and rising fuel prices?
  • How are the changing demands of customers impacting the competitive landscape?
  • What will impact the leading market players’ wallet share in the next 10 years?
  • What is helping the top players in the market to sustain and grow their market share?
  • How will the impact on the global economy affect the market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 19)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Regional Scope
           1.3.2 Years Considered
    1.4 Currency & Pricing
    1.5 Market Stakeholders

2 Research Methodology (Page No. - 23)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
           2.1.3 Market Definition & Scope
           2.1.4 Segments and Subsegments
           2.1.5 Segment Definitions
                    2.1.5.1 Business Jet Market, By Aircraft Type
                    2.1.5.2 Business Jet Market, By End Use
                    2.1.5.3 Business Jet Market, By System
                    2.1.5.4 Business Jet Market, By Point of Sale
    2.2 Research Approach and Methodology
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Conventional Business Jets Market
                    2.2.1.2 Hybrid-Electric Business Jets Market
                    2.2.1.3 Business Jets Aftermarket
                    2.2.1.4 Total Business Jets Market
                    2.2.1.5 Total Business Jets Market, By Aircraft Type
           2.2.2 Top-Down Approach
                    2.2.2.1 Conventional Business Jets Market, By Region and Country
                    2.2.2.2 Hybrid-Electric Business Jets Market, By Region and Country
                    2.2.2.3 Business Jets Aftermarket, By Region and Country
                    2.2.2.4 Total Business Jets Market, By Region and Country
                    2.2.2.5 Business Jets Market, By End Use
                    2.2.2.6 Business Jets Market, By System
                               2.2.2.6.1 OEM
                               2.2.2.6.2 Aftermarket
                    2.2.2.7 Business Jets Market, By Point of Sale
                               2.2.2.7.1 OEM
                               2.2.2.7.2 Aftermarket
           2.2.3 Pricing Analysis
    2.3 Data Triangulation & Validation
           2.3.1 Triangulation Through Secondary
           2.3.2 Triangulation Through Primaries
    2.4 Research Limitations
    2.5 Research Assumptions
           2.5.1 Conventional Business Jets
           2.5.2 Hybrid-Electric Business Jets
           2.5.3 Aftermarket Business Jets
    2.6 Risks

3 Executive Summary (Page No. - 36)

4 Premium Insights (Page No. - 40)
    4.1 Business Jets Market, 2019–2030
    4.2 Business Jets Market, By Aircraft Type
    4.3 Business Jets Market, By End Use
    4.4 Business Jets Market, By Country

5 Business Jet Market Overview (Page No. - 42)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Introduction of New Programs
                    5.2.1.2 Recommencement of Global Economic Growth
                    5.2.1.3 Aging Fleet Size
                    5.2.1.4 Increasing Number of High-Net-Worth Individuals
           5.2.2 Restraints
                    5.2.2.1 Lengthy Period of Product Certification From Aviation Authorities
                    5.2.2.2 Uncertainty of Orders
           5.2.3 Opportunities
                    5.2.3.1 Evtol Aircraft
                    5.2.3.2 Advent of Hybrid-Electric Aircraft Propulsion Technology
                    5.2.3.3 Entry of New Business Jets OEMs
                    5.2.3.4 Rising Demand for Business Jets From Emerging Markets
           5.2.4 Challenges
                    5.2.4.1 Unavailability of Infrastructure
                    5.2.4.2 Rising Fuel Prices

6 Industry Trends (Page No. - 47)
    6.1 Introduction
    6.2 Ecosystem
    6.3 Key Influencers
    6.4 Current and Futuristic Trends
           6.4.1 Sophistication of Cabin Interiors
                    6.4.1.1 Cabin Lighting
                    6.4.1.2 IFEC
                    6.4.1.3 Cabin Management Systems
           6.4.2 Autonomous Business Aircraft
           6.4.3 Electric Propulsion
                    6.4.3.1 Hybrid-Electric Propulsion
                    6.4.3.2 All-Electric Propulsion

7 Business Jets Market, By Aircraft Type (Page No. - 52)
    7.1 Introduction
    7.2 Light
           7.2.1 Rising Demand for Low Cost Ultra-Short-Haul Journeys is Driving the Growth of the Light Segment
    7.3 Mid-Sized
           7.3.1 Alternative to the Large Jets Due to Enough Luggage Space With A Comparatively Low Operating Cost
    7.4 Large
           7.4.1 Increase in the Customization and High Demand for Extra Range in Business Aviation is Driving the Market for Large Business Jets
    7.5 Airliners
           7.5.1 Increasing Demand for Vvip Travel is Driving the Airliners Segment

8 Business Jet Market, By End Use (Page No. - 57)
    8.1 Introduction
    8.2 Private
           8.2.1 Increasing Use for Personal, Corporate, and Governmental Purposes is Expected to Drive the Private Segment
    8.3 Operators
           8.3.1 Charter Services and Jet Card Programs Driving the Demand for Business Jets By Operators

9 Business Jet Market, By Point of Sale (Page No. - 61)
    9.1 Introduction
    9.2 OEM
           9.2.1 Conventional
                    9.2.1.1 Long Range and High Weight Carrying Capacity to Sustain the Demand
           9.2.2 Hybrid-Electric
                    9.2.2.1 Electrification of Aircraft is Estimated to Drive the Demand for Hybrid Electric Propulsion in the Business Jets Market
    9.3 Aftermarket
           9.3.1 Maintenance, Repair, and Overhaul (MRO)
                    9.3.1.1 Increasing Maintenance and Overhaul of Existing Business Jets Fleet is Expected to Drive the Growth of the MRO Segment
           9.3.2 Parts Replacement
                    9.3.2.1 Increase in Business Jet Flight Hours is Among the Factors Contributing to the Demand for Retrofit Parts for Aircraft

10 Business Jet Market, By Systems (Page No. - 66)
     10.1 Introduction
     10.2 OEM
             10.2.1 Aerostructures
                        10.2.1.1 Advancements in Lightweight Aerospace Materials Driving the Demand
                        10.2.1.2 Fuselage
                        10.2.1.3 Empennage
                        10.2.1.4 Flight Control Surfaces
                        10.2.1.5 Wings
                        10.2.1.6 Nacelle and Pylon
                        10.2.1.7 Nose
             10.2.2 Avionics
                        10.2.2.1 Development of Analytical Software Algorithms is Driving the Demand for Software for Business Jets
                        10.2.2.2 Flight Management Systems
                        10.2.2.3 Communication Systems
                        10.2.2.4 Navigation Systems
                        10.2.2.5 Software
             10.2.3 Aircraft Systems
                        10.2.3.1 Introduction of Hybrid Propulsion is Driving the Demand for Propulsion Systems
                        10.2.3.2 Hydraulic Systems
                        10.2.3.3 Pneumatic Systems
                        10.2.3.4 Environmental Control Systems
                        10.2.3.5 Emergency Systems
                        10.2.3.6 Electrical Systems
                        10.2.3.7 Propulsion Systems
                        10.2.3.8 Landing Systems
             10.2.4 Cabin Interiors
                        10.2.4.1 Introduction of Hybrid Propulsion is Driving the Demand for Propulsion Systems
                        10.2.4.2 Seats
                        10.2.4.3 IFEC
                        10.2.4.4 Galley
                        10.2.4.5 Panels
                        10.2.4.6 Stowage Bins
                        10.2.4.7 Lavatory
             10.2.5 Doors, Windows, and Windshields
     10.3 Aftermarket
             10.3.1 Aerostructures
             10.3.2 Avionics
                        10.3.2.1 Flight Management Systems
                        10.3.2.2 Communication Systems
                        10.3.2.3 Navigation Systems
                        10.3.2.4 Software
             10.3.3 Aircraft Systems
                        10.3.3.1 Hydraulic Systems
                        10.3.3.2 Pneumatic Systems
                        10.3.3.3 Environmental Control
                        10.3.3.4 Emergency Systems
                        10.3.3.5 Electrical Systems
                        10.3.3.6 Propulsion Systems
                        10.3.3.7 Landing Systems
             10.3.4 Cabin Interiors
                        10.3.4.1 Seats
                        10.3.4.2 IFEC
                        10.3.4.3 Galley
                        10.3.4.4 Panels
                        10.3.4.5 Stowage Bins
                        10.3.4.6 Lavatory
             10.3.5 Doors, Windows, and Windshields

11 Business Jets Services Market (Page No. - 80)
     11.1 Introduction
     11.2 Business Jets Services Market, By Type
             11.2.1 Charter Services
                        11.2.1.1 Shared Private Jet Services to Help Optimize Charter Fleet Operations
             11.2.2 Jet Card Programs
                        11.2.2.1 Debit as You Fly Program
             11.2.3 Fractional Ownership
                        11.2.3.1 Shared Ownership With Benefits of Charter Service
     11.3 Aircraft Management Services
     11.4 Business Jets Services Market, By Leasing Type
             11.4.1 Wet Lease
                        11.4.1.1 Leasing an Aircraft With All Supporting Services – Short Term Lease
             11.4.2 Dry Lease
                        11.4.2.1 Lease an Aircraft With No Additional Services – Long Term Lease

12 Regional Analysis (Page No. - 87)
     12.1 Introduction
     12.2 North America
             12.2.1 US
                        12.2.1.1 Increased Investments on Business Jets Electrification Technologies are Driving the Growth of the US Market
             12.2.2 Canada
                        12.2.2.1 Increasing Deliveries of Business Jets By Canada-Based Bombardier is Driving the Canadian Market
     12.3 Europe
             12.3.1 UK
                        12.3.1.1 Increasing Adoption of Business Jets for Domestic Air Transportation is Driving the UK Business Jet Market
             12.3.2 France
                        12.3.2.1 Increasing Deliveries of Business Jets By Airbus and Dassault Aviation are Driving the Business Jet Market in France
             12.3.3 Germany
                        12.3.3.1 Rapid Developments in the Infrastructure for Urban Air Mobility are Driving the Growth of the Business Jet Market in Germany
             12.3.4 Russia
                        12.3.4.1 Increasing Demand for Sukhoi Superjet 100 is Driving the Growth of the Business Jet Market in Russia
             12.3.5 Rest of Europe
                        12.3.5.1 Increasing Business Jet Deliveries and Growing Vvip Air Travel in the Region are Driving the Growth of the Market in Rest of Europe
     12.4 Asia Pacific
             12.4.1 China
                        12.4.1.1 Introduction of Cbj Business Jets By Comac is Driving the Business Jet Market in China
             12.4.2 Australia
                        12.4.2.1 Growth of the Tourism Industry in the Country is Driving the Business Jet Market in Australia
             12.4.3 Japan
                        12.4.3.1 Rapid Commercialization of Business Jets By Honda Jets and Mitsubishi Aircraft Corporation is Driving the Japanese Business Jet Market
             12.4.4 India
                        12.4.4.1 Upcoming Reforms in the Indian Aviation Sector for Intercountry Air Connectivity are Expected to Drive the Indian Business Jet Market
             12.4.5 Rest of Asia Pacific
                        12.4.5.1 Vip Business and Leisure Air Travel are Driving the Demand for Business Jets in Rest of Asia Pacific
     12.5 Middle East
             12.5.1 UAE
                        12.5.1.1 Huge Demand for Business Jets From the Tourism Sector in the Country is Driving the UAE Business Jet Market
             12.5.2 Saudi Arabia
                        12.5.2.1 Rise in the Deliveries of Business Jets in the Country is Expected to Drive the Business Jet Market in Saudi Arabia
             12.5.3 Qatar
                        12.5.3.1 Vvip Travel is A Major Factor Supporting the Growth of the Business Jet Market in Qatar
             12.5.4 Kuwait
                        12.5.4.1 Increasing Number of Vvip Flights is Driving the Growth of the Kuwait Business Jet Market
             12.5.5 Rest of Middle East
                        12.5.5.1 Tourism in the Region is Driving the Growth of the Rest of Middle East Business Jet Market
     12.6 Latin America
             12.6.1 Brazil
                        12.6.1.1 Increase in Deliveries of Business Jets in the Country is Driving the Brazilian Business Jet Market
             12.6.2 Mexico
                        12.6.2.1 Increasing Vvip Travel and Presence of Business Jets MRO Companies are Driving the Mexican Business Jet Market
             12.6.3 Rest of Latin America
                        12.6.3.1 Increase in Vvip Flights in the Region is Driving the Growth of the Rest of Latin America Business Jet Market
     12.7 Africa

13 Competitive Landscape (Page No. - 116)
     13.1 Introduction
     13.2 Competitive Analysis
             13.2.1 Business Jet Market Competitive Leadership Mapping (Overall Market)
                        13.2.1.1 Visionary Leaders
                        13.2.1.2 Innovators
                        13.2.1.3 Dynamic Differentiators
                        13.2.1.4 Emerging Companies
             13.2.2 Business Jet Market Competitive Leadership Mapping (Startups)
                        13.2.2.1 Progressive Companies
                        13.2.2.2 Responsive Companies
                        13.2.2.3 Dynamic Companies
                        13.2.2.4 Starting Blocks
     13.3 Competitive Scenario
             13.3.1 Contracts and Agreements
             13.3.2 New Product Launches
             13.3.3 Investment, Certification, and Expansion
             13.3.4 Other Strategies

14 Company Profiles (Page No. - 127)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     14.1 Textron Inc.
     14.2 Embraer S.A.
     14.3 Gulfstream Aerospace
     14.4 Pilatus Aircraft
     14.5 The Boeing Company
     14.6 Airbus
     14.7 Bombardier, Inc.
     14.8 Dassault Aviation
     14.9 Honda Aircraft Company
     14.10 Startups
             14.10.1 Volocopter GmbH
             14.10.2 Eviation Aircraft
             14.10.3 Zunum Aero
             14.10.4 Lilium GmbH
             14.10.5 Joby Aviation
             14.10.6 Karem Aircraft Inc.
             14.10.7 Lift
             14.10.8 XTI Aircraft
             14.10.9 Samad Aerospace

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 154)
     15.1 Discussion Guide
     15.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.3 Available Customizations
     15.4 Related Reports


List of Tables (89 Tables)

Table 1 USD Exchange Rates
Table 2 Rising Global Economy Will Spur the Demand for Business Jets
Table 3 Business Jet Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 4 Light Market Size, By Region, 2017–2030 (USD Million)
Table 5 Mid-Sized Market Size, By Region, 2017–2030 (USD Million)
Table 6 Large Market Size, By Region, 2017–2030 (USD Million)
Table 7 Airliners Market Size, By Region, 2017–2030 (USD Million)
Table 8 Business Jet Market Size, By End Use, 2019–2030 (USD Million)
Table 9 Market for Private, By Region, 2019–2030 (USD Million)
Table 10 Market for Operator, By Region, 2019–2030 (USD Million)
Table 11 Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 12 OEM Market Size, By Propulsion Type, 2017–2030 (USD Million)
Table 13 Business Jets Aftermarket Size, By Operations, 2017–2030 (USD Million)
Table 14 Market Size, By Systems, 2019–2030 (USD Million)
Table 15 Business Jets OEM Market Size, By Systems, 2019–2030 (USD Million)
Table 16 Aerostructures Market, By Subsystem, 2017–2030 (USD Million)
Table 17 Avionics Market, By Subsystem, 2017–2030 (USD Million)
Table 18 Aircraft Systems Market, By Subsystem, 2017–2030 (USD Million)
Table 19 Cabin Interiors Market, By Subsystem, 2017–2030 (USD Million)
Table 20 Business Jets Aftermarket, By Systems, 2019–2030 (USD Million)
Table 21 Aircraft Systems Aftermarket, By Subsystem, 2017–2030 (USD Million)
Table 22 Cabin Interiors Aftermarket, By Subsystem, 2017–2030 (USD Million)
Table 23 Average Monthly Dry Leasing Price for Business Jets
Table 24 Business Jet Market Size, By Region, 2017–2030 (USD Million)
Table 25 North America Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 26 North America Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 27 North America Market Size, By End Use, 2017–2030 (USD Million)
Table 28 North America: Business Jet Market Size, By Country, 2017–2030 (USD Million)
Table 29 US Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 30 US Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 31 Canada Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 32 Canada Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 33 Europe Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 34 Europe Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 35 Europe Market Size, By End Use, 2017–2030 (USD Million)
Table 36 Europe Business Jets Size, By Country, 2017–2030 (USD Million)
Table 37 UK Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 38 UK Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 39 France Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 40 France Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 41 Germany Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 42 Germany Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 43 Russia Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 44 Russia Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 45 Rest of Europe Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 46 Rest of Europe Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 47 Asia Pacific Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 48 Asia Pacific Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 49 Asia Pacific Market Size, By End Use, 2017–2030 (USD Million)
Table 50 Asia Pacific Business Jet Market Size, By Country, 2017–2030 (USD Million)
Table 51 China Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 52 China Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 53 Australia Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 54 Australia Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 55 Japan Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 56 Japan Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 57 India Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 58 India Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 59 Rest of Asia Pacific Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 60 Rest of Asia Pacific Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 61 Middle East Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 62 Middle East Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 63 Middle East Market Size, By End Use, 2017–2030 (USD Million)
Table 64 Middle East Market Size, By Country, 2017–2030 (USD Million)
Table 65 UAE Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 66 UAE Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 67 Saudi Arabia Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 68 Saudi Arabia Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 69 Qatar Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 70 Qatar Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 71 Kuwait Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 72 Kuwait Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 73 Rest of Middle East Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 74 Rest of Middle East Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 75 Latin America Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 76 Latin America Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 77 Latin America Market Size, By End Use, 2017–2030 (USD Million)
Table 78 Latin America Market Size, By Country, 2017–2030 (USD Million)
Table 79 Brazil Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 80 Brazil Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 81 Mexico Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 82 Mexico Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 83 Rest of Latin America Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 84 Rest of Latin America Market Size, By Point of Sale, 2017–2030 (USD Million)
Table 85 Africa Market Size, By Aircraft Type, 2017–2030 (USD Million)
Table 86 Contracts, January 2018–July 2019
Table 87 New Product Launches, January 2018–July 2019
Table 88 Investment, Certification, and Expansion, January 2018–July 2019
Table 89 Other Strategies, January 2018–July 2019


List of Figures (44 Figures)

Figure 1 Business Jet Market Segmentation
Figure 2 Research Flow
Figure 3 Research Design: Business Jet Market
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Triangulation
Figure 8 Assumptions for the Research Study
Figure 9 Large Aircraft Segment Projected to Lead Business Jet Market During Forecast Period
Figure 10 By End Use, Operators Segment Projected to Lead Business Jet Market During Forecast Period
Figure 11 By Point of Sale, OEM Segment Projected to Hold A Larger Share of Business Jet Market Compared to Aftermarket Segment During Forecast Period
Figure 12 Aircraft Systems Segment Projected to Hold A Larger Share of Business Jet Market During Forecast Period
Figure 13 North America to Account for Largest Share of Business Jet Market During Forecast Period
Figure 14 Recommencement of Global Economic Growth to Drive the Business Jet Market
Figure 15 Large Aircraft Segment Projected to Lead Business Jet Market During Forecast Period
Figure 16 Operators Segment Expected to have A Higher CAGR During the Forecast Period
Figure 17 Business Jet Market in India to Grow at the Highest CAGR During Forecast Period
Figure 18 Market Dynamics of the Business Jet Market
Figure 19 Ecosystem: Business Jet Market
Figure 20 Hybrid-Electric Propulsion System Architecture
Figure 21 All-Electric Propulsion System Architecture
Figure 22 Market Size, By Aircraft Type, 2019 & 2030 (USD Million)
Figure 23 Market Size, By End Use, 2019 & 2030 (USD Million)
Figure 24 Market, By Point of Sale, 2019 & 2030 (USD Million)
Figure 25 Market Size, By Systems, 2019 & 2030 (USD Million)
Figure 26 Major Players in Business Jets Services Market
Figure 27 Factors Impacting Cost of Business Jets
Figure 28 Business Jets Services Preference for Travel Cost Optimization
Figure 29 North America Estimated to Account for the Largest Share of the Business Jet Market in 2019
Figure 30 North America Business Jet Market Snapshot
Figure 31 Europe Business Jet Market Snapshot
Figure 32 Asia Pacific Business Jet Market Snapshot
Figure 33 Companies Adopted Contracts as A Key Growth Strategy Between January 2018 and July 2019
Figure 34 Business Jet Market (Global) Competitive Leadership Mapping, 2018
Figure 35 Strength of Product Portfolio
Figure 36 Business Strategy Excellence
Figure 37 Business Jet Market (Startups) Competitive Leadership Mapping, 2018
Figure 38 Textron Inc.: Company Snapshot
Figure 39 Embraer S.A.: Company Snapshot
Figure 40 Pilatus Aircraft: Company Snapshot
Figure 41 Boeing: Company Snapshot
Figure 42 Airbus: Company Snapshot
Figure 43 Bombardier Inc.: Company Snapshot
Figure 44 Dassault Aviation: Company Snapshot

The study involved four major activities in estimating the current market size for Business Jets. Exhaustive secondary research was done to collect information on the complete ecosystem, including the vendors, OEMs, clients, end-users, and aftermarket. The next step was to validate these findings, considering valid assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources including Airfleets, Bombardier Financial Outlook, General Aviation Manufacturers Association (GAMA); corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and professional associations. Secondary data was collected and analyzed to arrive at the overall market size, which was further validated by primary respondents.

Primary Research

Prominent companies that provide business jets, component and system manufacturers, business jet startups, aftermarket service providers, and business jet operators, are key stakeholders in the supply chain of the Business Jet market. An increase in airport investments characterizes the demand side of this market. The supply side is characterized by advancements in technology. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents.

Business Jet Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Total business jets market was arrived by totaling up the conventional business jets market and the futuristic business jet market. The conventional market comprised of OEM and aftermarket, whereas the futuristic market is the market size of futuristic electric/hybrid aircraft expected to commercialize post-2025 across various regions. In the aftermarket, the market size includes MRO and parts replacement market, which was identified by considering the operation fleet size. OEM market size was arrived by looking at various industry outlooks, considering factors such as country-wise GDP growth, and overall demand.

Total business jets market = conventional business jets market + hybrid-electric business jets market + business jets aftermarket

Both top-down and bottom-up approaches were used to estimate and validate the total size of the Business Jets market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size included the following:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. MarketsandMarkets’ internal data repository was used to triangulate the outcomes.

Report Objectives

  • To define, segment, and project the global market size for Business Jets
  • To understand the structure of the Business Jets market by identifying its various sub-segments
  • To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the total market
  • To project the size of the market and its submarkets, in terms of value, with respect to the six regions (along with their respective key countries)
  • To profile key players and comprehensively analyze their core competencies
  • To understand the competitive landscape and identify major growth strategies adopted by players across key regions
  • To analyze competitive developments, such as expansions & investments, new product launches, mergers & acquisitions, joint ventures, and agreements in the Business Jets market.

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Product Analysis

Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional and segmental Analysis

Further breakdown of the market at segmental and country-level

Business Jet Services Market

Quantitative data on the services market

Company Information

Detailed analysis and profiles of additional market players (up to 5)

Report Code
AS 2713
Published ON
Oct, 2019
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