Global Business Jet Market Overview:
A business Jet is an aircraft mainly designed to transport a small number of passengers at a premium cost compared to a commercial airliner. Business jets are mostly owned and operated by corporations, wealthy people, government agencies, or commercial business jet operators that provide air charter or air taxi services. The business jet offers several facilities such are safe and cost effective mode of travel, reduce travel time and conduct business during the flight. There has been significant rise in number of business jet aircraft model with figure stood up to 21,339 in United States alone in 2018, the future for business jet looks promising. The major companies are introducing latest technology based business jet in Asia-Pacific and Middle East region to as its demand is observed in flight scheduling and efficient profit through aviation. According to AMA, the Global Business Jet market is expected to see growth rate of 1.52%
- Replacement of Old Aircraft into New Aircrafts Leads to Drive the Business Jet Market.
- Rise in Corporate Profits Fuelled up the Market.
- Increase demand of pre-owned business jets.
- Business jet Market Growth with Increase of Premium Consumer.
- Intervention and Government Regulations in Developing Countries.
- Long Term Process for Product Certification Hampers the Business Jet Market.
- Introduction of New Models and Technology Advancements Expected to Boost the Business Jet Market.
- Rapid Deployment of Specialist Team Improving the Organization Efficiency Leads to Propel the Market.
- Increase in Fuel Price are Anticipated the Challenge the Market.
- Adverse Impact Due to Economic Uncertainties in Business Jets.
Some of the key players profiled in the report are Bombardier Inc. (Canada), Dassault Aviation S.A. (France), Cessna Aircraft Company (United States), Gulfstream Aerospace Corporation (United States), Embraer S.A. (Brazil), Adam Aircraft (United States), Boeing Commercial Airplanes (United States), Eclipse Aviation (United States), Hawker Beechcraft (United States), Honda Aircraft Company (United States), Israel Aerospace Industries (Israel) and Pipe Aircraft (United States). Additionally, following companies can also be profiled that are part of our coverage like Spectrum Aeronautical (United States), Fairchild Aircraft (United States) and Emivest Aerospace Corporation (United States). Analyst at AdvanceMarketAnalytics see United States Manufacturers to retain maximum share of Global Business Jet market by 2024. Considering Market by Size, the sub-segment i.e. Small will boost the Business Jet market. Considering Market by Distribution Channels, the sub-segment i.e. OEMs will boost the Business Jet market.
In March, 2019, Dassault Aviation acquired MRO-business ExecuJet and TAG Aviation Group. This acquisition is beneficial in strengthening its global presence and increase the market share of the falcon maintenance team.
In December 2018, The Boeing Co. launched an BBJ 777X, a new boeing business jet model which is beneficial in providing longest range of 11,645 nautical miles and a 3,256-square-foot cabin and unlimited interior design options to ensure ultimate comfort for long distance travel.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Business Jet market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Business Jet market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Business Jet Manufacturers, Business Jet Traders, End-Use Market Participants of Different Segments of Business Jet, Government and Research Organizations, R&D Institutions and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.