Global Business Jet Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Business Jet Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global business jet market report has been segmented on the basis of product type, service, and region.

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Global Business Jet Market: Overview

Business jet also known as bizjet or private jet is designed for transportation of a small group of individuals. It is commonly used by armed forces, government officials, public bodies, private companies or organizations. A business jet is small size aircraft and manufacturers offer customized jets for government, business, and private sectors. Business jet also offers private air travel with large and personalized space.

Global Business Jet Market: Dynamics

Increasing adoption of business jets as they offer a safe mode of traveling, on-demand flight schedule, place to conduct business privately, coupled with an increasing number of individuals with high net worth are major factors driving growth of the global business jet market. In addition, the availability of business jets alternative to full ownership is another factor supporting growth of the global market. Furthermore, replacement of old private jets with new jets with advanced technology is a factor expected to support growth of the global business jet market in the near future.

However, the time lag in certification in the product certification process is a factor that may hamper growth of the global business jet market. Additionally, regulation and government policies in various countries that affect the adoption of business jets is another factor that could affect growth of the target market. Nevertheless, increasing number of jet manufactures and growing aviation sector in emerging economies can create high revenue opportunities for players in the global market.

Global Business Jet Market: Segment Analysis

Among the product type segments, the mid-size business jets segment is expected to register high growth in terms of revenue in the near future. Light business jets segment is anticipated to register lucrative growth in terms of revenue over the forecasts period. Increasing demand for Light business jets among end users in North America and Europe is expected to fuel growth of this segment in the target market.

Global Business Jet Market: Regional Analysis

Market in North America accounts for a significant share in terms of revenue and is expected to maintain its dominance over the forecast period. Presence of prominent players and high adoption of private jets among end users especially in the US are factors propelling growth of the target market in this region. In addition, high domestic investment and consumer spending are also factors supporting growth of the target market in North America.

The market in Europe is expected to account for lucrative growth in term of revenue in the near future. However, environmental regulations on old jets is a factor that could affect growth of the target market in this region. Market in Asia Pacific is anticipated to register high growth in terms of revenue over the forecast period. Growing aviation industry in countries such as China and India is a factor anticipated to drive growth of the business jet market in the Asia Pacific.

Global Business Jet Market Segmentation:

Segmentation by Product Type:

Large Business Jets
Mid-Size Business Jets
Light Business Jets

Segmentation by Service:

Jet Card Programs
Charter
Fractional Ownership