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on May 9, 2024
The latest report by IMARC Group, titled “Business Jet Market Report by Type (Light, Medium, Large), Business Model (On-Demand Service, Ownership), Range (< 3,000 NM, 3,000 - 5,000 NM, > 5000 NM), Point of Sale (OEM, Aftermarket), and Region 2024-2032“, The global business jet market size reached US$ 19.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 27.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032.
A business jet, also known as a private jet, refers to an aircraft that is designed for a small group of passengers to travel for business purposes. It comprises single-pilot airplanes, turbine aircraft, and propeller-driven jets. It saves time and money, improves work efficiency and has fewer luggage restrictions, no long intermediate stops, and access to several airports. It assists in offering passengers safety, security, flexibility, convenience, and comfort. As a result, the business jet is widely utilized by entrepreneurs, organizations, businesses, and non-profit companies across the globe.
Business Jet Market Trends and Drivers:
Presently, the rising employment of business jets for business travel and personal use by celebrities represents one of the primary factors strengthening the growth of the market. Besides this, the growing number of air travelers for various purposes, along with inflating income levels of individuals, are offering a positive market outlook. Apart from this, technological advancements in the business jets, such as the emergence of hybrid-electric aircraft propulsion technology that assists in improving performance, are positively influencing the market. Moreover, the rising demand for business jets, as they provide luxury, private lounges and terminals, and advanced flight decks, is bolstering the growth of the market. Furthermore, key players are investing in research and development (R&D) activities to introduce the largest cabin, flight deck with touch screens throughout the cockpit, and advanced fighter technology, which is contributing to the growth of the market.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/business-jet-market/requestsample
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Light
- Medium
- Large
Breakup by Business Model:
- 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
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Airbus
- Bombardier Inc.
- Dassault Aviation
- Embraer S.A.
- Gulfstream Aerospace
- Honda Aircraft Company
- Pilatus Aircraft
- Piper Aircraft
- Saab AB
- Textron Inc.
- The Boeing Company
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Other Related Reports Published by IMARC Group :
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 |United Kingdom: +44-753-713-2163
Posted in: Business
Topics:
business jet market