Business Jet Market Growth, Demand and Challenges of the Key Industry Players 2023-28

Author: Elena Anderson

Marketing Manager

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Global Business Jet Market Research Report 2023-2028:

According to the latest report by IMARC Group, titled " Business Jet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2 028

," the global business jet market size reached US$ 18.4 Billion in 2022.

A business jet, also known as bizjet or private jet, is a specially designed aircraft for transporting a small group of people. There are different classes of business jets available like light, mid-size, large, and long-range jets. They offer privacy, minimize traveling time, and provide the facility of quick flight scheduling.

As a result, business jets are used by government officials, corporates, sportspeople, as well as by individuals for VVIP transport, leisure travel, and business tours. Apart from transporting people, business jets are also utilized for express parcel deliveries, evacuation of casualties, and for exchanging goods for government officials.

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Global Business Jet Market Trends:

The increasing penetration of business aviation, especially in emerging economies, is one of the major growth-inducing factors of the market. Continuous wealth generation in mature markets is also bolstering the market growth. Additionally, a rise in the demand for long-range jets has been witnessed in the aviation industry as they offer optimum performance and comfort to individuals. Apart from this, business jet operators are expanding their portfolio by extending membership programs like private jet cards and member plans through which users can get negligible blackout dates, reduced rates, and additional fleet options.

Moreover, fleet retirement faced by operators in branded charters and fractional ownership arena are compelling them to replace their existing jets with the latest ones, thereby fueling the market growth. Furthermore, technological innovation is playing a crucial role in the growth of the market as new players are focusing on the development of light jets with more comfortable interiors.

Looking forward, the market is expected to exhibit a CAGR of 4.3% during the forecast period (20232028). View Report TOC, Figures and Tables: https://www.imarcgroup.com/business-jet-market

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Key Market Segmentation

The research report includes the following segments:

Breakup by Type:

• Light

• Medium

• Large

Breakup by Vehicle Type:

• On-Demand Service

• Air Taxis

• Branded Charters

• Jet-Card Programs

• Ownership

• Fractional Ownership

• Full Ownership

Breakup by Range:

• < 3,000 NM

• 3,000 - 5,000 NM

• > 5000 NM

Breakup by Point of Sale:

• OEM

• Aftermarket

Breakup by Region:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Competitive Landscape with Key Players:

• Airbus

• Bombardier Inc

• Dassault Aviation

• Embraer S.A

• Gulfstream Aerospace

• Honda Aircraft Company

• Pilatus Aircraft

• Piper Aircraft

• Saab AB

• Textron Inc

• The Boeing Company

• etc

1. What was the size of the global business jet market in 2022?

2. What is the expected growth rate of the global business jet market during 2023-2028?

3. What are the key factors driving the global business jet market?

4. What has been the impact of COVID-19 on the global business jet market?

5. What is the breakup of the global business jet market based on the type?

6. What is the breakup of the global business jet market based on the business model?

7. What is the breakup of the global business jet market based on the range?

8. What is the breakup of the global business jet market based on the point of sale?

9. What are the key regions in the global business jet market?

10. Who are the key players/companies in the global business jet market?

Click here to visit the complete table of content with list of figures and tables: https://www.imarcgroup.com/business-jet-market/toc

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