Business Aircraft Market Scope
Business aircraft is type of the aircraft which is used by companies or corporations for the transportation of people and product according to requirement of the business. Types of the business aircraft are vary, from propeller driven aircraft to jets to helicopter, while jets are most popular among them. Business aircraft classified according to their setting capacity, flying capacity, distance covered by aircraft. Increasing demand for personalized air transportation and convenience, privacy provided by business aircraft, give rise to the business aircraft market.
|Unit||Value (USD Million)|
|Key Companies Profiled||Airbus SE (France), The Boeing Company (United States), Bombardier,Inc (Canada), Honeywell Aviation (United States), Embraer S.A (Brazil), Textron Ink (United States), Gulfstream Aerospace (United States), Collins Aerospace (United States), Dassault Aviation (France), Cessana Aircraft Company (United States), Hondajet (United States), Eviation Aircraft (United States) and Syberjet Aircraft (United States)|
Business aircraft market is a fragmented market due to the presence of various players. The players are focusing on increasing userís experience. Further, companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Airbus SE (France), The Boeing Company (United States), Bombardier,Inc (Canada), Honeywell Aviation (United States), Embraer S.A (Brazil), Textron Ink (United States), Gulfstream Aerospace (United States), Collins Aerospace (United States), Dassault Aviation (France), Cessana Aircraft Company (United States), Hondajet (United States), Eviation Aircraft (United States) and Syberjet Aircraft (United States) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Business Aircraft market by Type , by Application (Commercial and Private) and Region with country level break-up.
On the basis of geography, the market of Business Aircraft has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn August 2021, Collins Aerospace acquired privately held FlightAware, a digital aviation company providing global flight tracking solutions, predictive technology, analytics and decision-making tools. FlightAware help Collins Aerospace in information management service portfolio with companies Avionics strategic business unit. This acquisition helped Collins Aerospace to expand its performance in business aircraft.
In April 2023, Airbus SE announced building new China single-aisle jet factory. Single-aisle jet is best-selling aircraft on airbus. Considering future demand of air travel, company decided to start this new factory to improve its presence in business aircraft market.
Influencing Trend:Increasing Demand of Business Aircraft to Go On Vacation and Increasing Demand of Cloud Based Technology in Business Aircraft
Market Growth Drivers:Rise in Demand for Business Aircraft for its Convenience, Privacy and Time Saving Compared to Commercial Aircraft, Growing Awareness about Business Aircraft in Users and Increasing Demand for International Transportation
Challenges:Increasing Climate Changes and Environment Issues
Restraints:Lack of Skilled Workforce and High Cost of Fuel
Opportunities:Rising Technological Advancements in Business Aircraft Such as LI-Fi Infight Entertainment Monitor
Key Target AudienceBusiness Aircraft Manufacturers, Distributors, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others