Business Jet Market by Range, Aircraft Type and Geography - Forecast to 2025

DUBLIN, Feb. 17, 2020 /PRNewswire/ -- The "Business Jet Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The market for business jets is anticipated to reach a CAGR of over 1% during the forecast period (2020-2025).

Key Highlights

• Growth in tourism is generating demand for new business jets, as charter service providers are introducing new routes and are expanding their presence, globally.
• Technological advancements in avionic systems and interior cabin products are likely to support the growth of the business jet market.
• Growth in high net worth individuals is expected to generate demand for newer generation business jets.
• New product launches, expansion in emerging economies, and long-term agreements are some of the major strategies adopted by major business jet OEMs.

Growing Preference for Long Range Business Jets

Procurement of ultra-long range jets (> 5000 Nm) is on a rise and currently holds a major share in the business jet market, globally. Some of the prominent aircraft models in this range are Gulfstream G650/650ER, Dassault's Falcon 7X, and Boeing's BBJ 777/787. Bombardier Business Aircraft, Gulfstream Aerospace Corporation, and Textron Inc. are expected to have higher deliveries, with Dassault Aviation SA and Embraer Executive Jets following close behind.

Bombardier, Gulfstream, and other major players offer seats with varying capacities, based on the types of business jets. As business jets are being utilized by sports persons, government officials, tourists, business people, etc., seating capacity differs according to the requirements of the people hiring the jet. Business jets opted for by tourists and business class passengers are anticipated to have higher seating capacity, compared to others. Apart from domestic and commercial applications, country-specific military bases and civilian operators deploy business jets for long and short hauls.

North America leading the Business Jet Market

Presently, North America dominates the business jet market and is one of the premium markets for business jet operations. However, the market is beginning to saturate, which has shifted the focus of OEMs toward the Middle East & Africa markets. The Middle East & Africa business jet market is evolving with rising investments in general aviation airport infrastructures. Also, the growth in the number of high net worth individuals, particularly in the Middle-East, is turning the market into a lucrative one, for both the business jet service providers and the OEMs. Hence, the Middle East & Africa business jet market is anticipated to register the highest CAGR during the forecast period.

Competitive Landscape

The business jet market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets. For instance, starting in 2018, Pilatus delivered the first of six PC-24s to its launch customer PlaneSense. The PC-24, also known as Super Versatile Jet, has a range of about 1,188 Nm. Likewise, Honda Aircraft Company introduced its HondaJet HA-420 with first delivery in 2016. By the end of October 2018, the company built over 90 aircraft.

Key Topics Covered

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Range
5.1.1 <_000 />5.1.2 3,000 - 5,000 NM
5.1.3 > 5000 NM
5.2 By Aircraft Type
5.2.1 Light Jet
5.2.2 Mid-size Jet
5.2.3 Large Jet
5.3 Geography
5.3.1 Asia-Pacific
5.3.2 North America
5.3.3 South America
5.3.4 Europe
5.3.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Airbus SE
6.2.2 The Boeing Company
6.2.3 Bombardier, Inc.
6.2.4 Dassault Aviation SA
6.2.5 Embraer SA
6.2.6 Gulfstream Aerospace Corporation
6.2.7 Textron Inc.
6.2.8 Emirates
6.2.9 Execujet Aviation Group
6.2.10 Executive Jet Charter Ltd.
6.2.11 FLEXJET, LLC
6.2.12 Gama Aviation PLC
6.2.13 Grafair Flight Management AB
6.2.14 NetJets IP, LLC
6.2.15 Qatar Airways Group
6.2.16 Royal Jet
6.2.17 TAG Aviation SA
6.2.18 Vista Jet
6.2.19 AirCharter International

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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