Business Aircraft Market Insights and Industry Analysis by Aircraft Type (Fixed-Wing (Light Jets, Mid-Size Jets, And Heavy Jets) And Rotary Wing), By Service (Fractional Ownership, Charter, And Jet Card Programs), By Application (Tourism, VIP Transportation, And Others) And By Region (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America) – Forecast Till 2030 By MRFR
New York, US, Nov. 17, 2022 (GLOBE NEWSWIRE) — Business Aircraft Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Business Aircraft Market Information by Aircraft Type, Service, Application and Region – Forecast till 2030”, the market could touch USD 42.5 Billion by 2030, thriving at a CAGR of 4% from 2022 to 2030.
Market Scope
There are various types of business aircraft available in the market, ranging from jets to propeller-driven aircraft to helicopters. The fleet ranges from advanced piston aircraft that are not even as big as a car and can fly a few hundred miles before they need to be re-fuelled, to jets with the capacity to seat over a dozen passengers and can make non-stop flights.
Business aircraft allow for flexible, efficient, secure, cost-effective, and safe access to destinations anywhere in the world. Since employees of an organization are able to meet and work together aboard business aircraft, one can expect a higher productivity level.
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/3952
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 42.5 Billion |
| CAGR | 4% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Aircraft Type, By Service, By Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing long-range flights demands |
| Rapidly Increasing People’s Purchasing Power Are Other Major Growth Driving Factors |
Market Scope:
The major vendors in the global market are:
- Cessna Aircraft Company (US)
- Dassault Aviation SA (France)
- Bombardier Inc. (Canada)
- Gulfstream Aerospace Corporation (US)
- Saab AB (Sweden)
- Piper Aircraft (US)
- Textron Aviation (US)
- Embraer SA (Brazil)
- Pilatus Aircraft Inc. (Switzerland)
- Honda Aircraft Company (US)
These firms are striving to bolster their geographical reach while also focusing on introducing newer, and more advanced products via numerous strategies, such as partnerships, acquisitions, collaborations, and new launches.
Market USP exclusively encompassed:
Primary Growth Boosters:
The incredible growth of the tourism sector across several countries is expected to favor the business aircraft industry in the coming years. Moreover, charter services are increasingly fostering their presence and routes worldwide, which should also benefit the business aircraft market over the analysis period.
Introduction of new and stricter aviation emission policies and regulations along with the soaring need among the vast clientele for personalized travel experience add to the demand for well-equipped business aircraft. In addition, the expanding pool of High Net-worth Individual (HNWI) clientele across North America has landed the global market on a rapid growth trajectory. Associated benefits with respect to ownership, including fractional ownership as well as private jet card programs, also facilitate market growth.
Technological innovations in avionics systems, new launches, and frequent procurement & service partnerships and agreements will propel the growth of the business jet OEMs segment in the years to come.
In-flight connectivity/IFC in business aircraft will be surging by a whopping 50% by the next decade, with the number of total business jet aircraft touching 36,500 by 2028. In 2021, the use of private plane reached the highest degree with 3.3 million of them taking off.
Browse In-depth Market Research Report (110 Pages) on Business Aircraft: https://www.marketresearchfuture.com/reports/business-aircraft-market-3952
Market Restraints:
A huge challenge expected to emerge in the coming years can be the shortage of advanced infrastructure across several countries. Although emerging nations like India, Nigeria, Malaysia, and China hold a lot of promise for business aircraft, their growth is comprised of the lack of modern infrastructure. Numerous cities in these countries are not well connected while many areas face a shortage of airports and aerodromes.
COVID-19 Analysis
There is no doubt that the COVID-19 outbreak has wreaked havoc on several industries, burdening them with financial challenges. However, the collective effort given by government bodies across countries and industries to accelerate the recovery rate of the global economy could mean better prospects for the business aircraft industry in the years ahead.
Market Segmentation
By Type
In terms of type, the business aircraft market caters to fixed wing as well as rotary wing. The types of fixed wing business aircraft are mid-size jets, heavy jets, and light jets. The light jet segment may procure the highest development in the next few years, thanks to the surge in the commercialization trend of air taxis, which are anticipated to act as business jets for intra and intercity travels in the near future.
By Service
Service-wise, the key segments are charter, jet card programs, and fractional ownership. The chartered services are experiencing robust demand worldwide and can even garner the fastest growth rate in the following years. This can be accredited to the rampant demand for the same in Europe and North America.
By Application
Primary applications of business aircraft include VIP transportation, tourism, and more.
Regional Status
North America is the ruling market for business aircraft, backed by rapid technical innovations as well as the high industrialization rate in the region. The massive number of high-net-worth individuals present in the region combined with the vast pool of reputed business aircraft manufacturers including Bombardier (Canada), Gulfstream (US), and Textron (US), add to the market worth.
Buy Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=3952
The European industry for business aircraft is slated to achieve a substantial growth rate between 2020 and 2027. The strong market growth can be the result of the rising manufacturing of business aircraft by the established players in the region. also, firms’ surging focus on improving the aviation infrastructure, escalating need for newer aircraft, and the upgradation of the existing aircraft models could also propel the market position in the years to come.
The Asia Pacific is on track to achieve noteworthy growth over the forthcoming years, with the demand for business aircraft escalating at a stunning pace in the region. Surging investments in advanced business aircraft and the mounting number of high net-worth individual clientele also foster the market lucrativeness in the region.
Discover more research reports on Business Aircraft Market, by Market Research Future:
Marine Battery Market Report, by Type (Valve-regulated Lead Acid (VRLA) Batteries, Flooded Lead Acid Batteries and others), Application (Marine Starting Service, Deep Cycle Service and Dual-Purpose Service), Ship Type (Commercial and Defense) and Region – Forecast till 2030
Aviation Software Market Research Report: Information by Application (Airports and Airlines), Software Type (Management Software, Analysis Software, Design Software, Simulation Software and MRO Software) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) – Forecast till 2030
Military Software Market Research Report: Information by Application (Air Force, Army and Navy), Software Type (COTS and Embedded) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) – Forecast till 2028
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Follow Us: LinkedIn | Twitter
CONTACT: Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: [email protected] Website: https://www.marketresearchfuture.com
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaChron.com takes no editorial responsibility for the same.