The global business jet market is anticipated to grow at a considerable CAGR of 5.3% during the forecast period (2023–2030). The addition of new models to existing fleets moves the worldwide market ahead. According to the General Aviation Manufacturers Association (GAMA), jet deliveries climbed by 12.5% in the first half of 2019. New models such as the Gulfstream G500, Cirrus SF50 Vision, and Pilatus PC-24 are in great demand due to their benefits. Additionally, in October 2019, Gulfstream introduced a new G700 plane with a seating capacity of 19 people.

Besides that, market players such as General Dynamics, Embraer, Airbus S.A.S., Boeing, Bombardier, and others are investing significantly in R&D activities and creating aircraft with improved performance. Expenditures in the launch of new aircraft types are a crucial element driving market revenue growth. In July 2021, Pratt & Whitney Canada, a company of Raytheon Technologies Inc., announced plans to enhance its hybrid-electric propulsion technology and flying demonstration programme. This initiative is part of a $129.5 million commitment by the governments of Canada and Quebec.

Another key reason driving revenue growth is the increased use of high-tech components such as sophisticated hybrid-electric and water-enhanced turbofan technology. For instance, the European Union Clean Aviation Joint Undertaking established a collaborative coalition of aerospace technology companies on November 29, 2022, to develop hybrid-electric and water-enhanced turbofan systems for future aircraft propulsion systems. As compared to current short- and medium-range aircraft propulsion systems, these technologies are expected to enhance fuel economy and cut aircraft carbon emissions by up to 25%.

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Market Coverage           

The Market Number Available for – 2022-2030
Base year- 2022
Forecast period- 2023-2030

Segment Covered- 

By Type
By Platform

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Honda Aircraft Company, Pilatus Aircraft, Syberjet Aircraft, Textron Inc., Pilatus Aircraft Ltd., and others.

Business Jet Market Report Segment

By Type

Light Business Jet
Mid-Size Business Jet
Large Business Jet

By Platform

On-Demand Service
Aircraft Management Service

A full Report of Business Jet Market is Available @  https://www.omrglobal.com/industry-reports/business-jet-market

Business Jet Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa

Company Profiles 

Airbus SE
Boeing
Bombardier Inc.
Cirrus Design Corp.
Dassault Aviation SA
Embraer SA
General Dynamics Corp.
Gulfstream Aerospace Corp.
Honda Aircraft Company
Pilatus Aircraft
Syberjet Aircraft
Textron Inc.
Pilatus Aircraft Ltd.
Joby Aviation
Zunum Aero
Honeywell International

Reasons to buy from us –

We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
Our expert research analysts answer all your questions before and after purchasing your report.

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