Business Jet market Size 2020 Industry Share2

Fortune Business
Fortune Business 2/24/2021 10:08:47 AM

Business Jet market   Size,
2020 Industry Share and Global Demand | 2026 Forecast by Fortune Business
Insights™


The global business jet market size is
projected to reach USD 35.56 billion by 2027, exhibiting a CAGR of 5.37% during
the forecast period. Increasing business aircraft deliveries worldwide will be
a key growth determinant for this market, finds Fortune Business Insights™ in
its report, titled “
Business Jet Market Size,
Share & Industry Analysis, By Business Jet Type (Very Light Jet, Light,
Super-Light, Mid-size, Super-Mid-Size, Large, Super Large, Ultra Long Range,
and Converted Airliners), By Platform (On-Demand Service, Aircraft Management
Services, and Leasing), By System (Propulsion System, Aerostructures, Avionics,
and Others), By End Use (Private and Operators), By Point of Sale (OEM and
Aftermarket), and Regional Forecast, 2020-2027
”. According to the General Aviation Manufacturers
Association (GAMA), global shipments of private jets in 2017 rose to 2,324
units, reflecting an increase of 2.5% from 2016 levels. The gains, the GAMA
notes, were led by increased deliveries from HondaJet, Cirrus Aircraft, and
Textron. Honeywell International also forecasts promising increases in business
jet deliveries in the forthcoming decade. According to the company’s Global
Business Aviation Outlook, between 2020 and 2029, worldwide business jet
shipments could reach 7,600 at an estimated value of USD 248 billion, signaling
good news for the market.

The report states that the global
market value stood at USD 27.54 billion in 2019 and contains the following
information:


  • Comprehensive analysis of the short- and long-term impact of
    COVID-19 on the market;

  • Detailed study of the market drivers, trends, and upcoming
    opportunities;

  • Valuable insights into the market segments; and

  • Actionable research into the regional developments and competitive
    landscape of the market.

An Overview of the Impact of COVID-19
on this Market:

The emergence of COVID-19 has brought
the world to a standstill. We understand that this health crisis has brought an
unprecedented impact on businesses across industries. However, this too shall
pass. Rising support from governments and several companies can help in the
fight against this highly contagious disease. Some industries are struggling
and some are thriving. Overall, almost every sector is anticipated to be
impacted by the pandemic.

We are taking continuous efforts to
help your business sustain and grow during COVID-19 pandemics. Based on our
experience and expertise, we will offer you an impact analysis of coronavirus
outbreak across industries to help you prepare for the future.



Request a Sample Report: 
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/business-jet-market-101585

Study Period: 2016-2027

Base Year: 2019

Forecast Period: 2020-2027

Historical Period: 2016-2018

Market Challenge

Stringent Travel Restrictions to
Contain COVID-19 to Impede Market Growth

The business jet market growth has hit
a roadblock in the form of the COVID-19 pandemic. Governments around the world
have imposed strict travel restrictions for non-essential journeys to contain
the spread of the coronavirus. For example, in March 2020, the European Union
(EU) issued extensive travel bans to and from Europe, especially for countries
where COVID cases were rising rapidly. However, the demand for executive
aircraft is picking up again, though at a sluggish pace. Embraer, for instance,
reported decent earnings of USD 130 million in the Second Quarter of 2020,
stating that business jet demand is stabilizing worldwide. However, reaching
demand and revenue levels of the pre-COVID period is expected to be a prolonged
process for this market.

Business Jet Market report Focus on:


  • Extensive product offerings

  • Customer research services

  • Robust research methodology

  • Comprehensive reports

  • Latest technological developments

  • Value chain analysis

  • Potential Market opportunities

  • Growth dynamics

  • Quality assurance

  • Post-sales support

  • Regular report updates

 Reasons to Purchase this
Report:


  • Comprehensive analysis of the market growth drivers, obstacles,
    opportunities, and other related challenges.

  • Tracks the developments, such as new product launches, agreements,
    mergers and acquisitions, geographical expansions, and joint ventures.

  • Identifies market restraints and boosters.

  • Identifies all the possible segments present in the market to aid
    organizations in strategic business planning.    

Key Questions Answered:


  • Why Choose Fortune Business Insights?

  • What are the key demands and trends shaping the market?

  • What are the key opportunities in the market?

  • What are the key companies operating in the market?

  • Which company accounted for the highest market share?

  • What is the market size and growth rate of the global and regional
    market by various segments?

  • What is the market size and growth rate of the market for selective
    countries?

  • Which region or sub-segment is expected to drive the market in the
    forecast period?

  • What Factors are estimated to drive and restrain the market growth

To get the short-term and long-term
impact of COVID-19 on this Market, Visit: 
https://www.fortunebusinessinsights.com/industry-reports/segmentation/business-jet-market-101585

Regional Insights

North America to Occupy Prominent
Market Position; Europe to Register Substantial Growth

North America, with a market size of
USD 9.75 billion in 2019, is anticipated to lead the business jet market share
during the forecast period. This is mainly attributable to the robust aviation
infrastructure in the region along with the steadily climbing demand for hybrid
jets in the region.

In Europe, emergence of leasing
facilities and rapid adoption of advanced aircraft propulsion systems will be
the two chief growth drivers for the regional market. Asia Pacific is expected
to offer lucrative business opportunities for market players owing to promising
economic growth, establishment of foreign businesses in India and China, and
speedy rise in business air travel in the region.

Competitive Landscape

Contractual Partnerships to Create New
Growth Avenues for Market Players

The competition in the business jet
market is being increasingly characterized by contractual agreements between
companies and government bodies and among players themselves. These
partnerships and ventures are opening new vistas of growth for the market and
its participants and enhancing market potential.

Industry Developments:


  • June 2020: Bombardier signed a CAD 105
    million contract with the Federal Government to supply two of its
    signature Challenger jets to upgrade half of the executive aircraft fleet
    of the Canadian Armed Forces. The replacement decision was taken by the
    government citing outdated technology in two of the four business jets in
    the fleet.

  • April 2019: Airbus’s
    ACJ319neo, a member of the A320neo family, completed its maiden flight,
    which also saw the testing of its private jet features. The aircraft has
    been engineered for the K5 aviation of Germany and will also feature a
    premium VVIP cabin designed by Fokker Techniek.

List of Companies Profiled in the
Business Jet Market Report:


  • Zunum Aero (Washington, the U.S)

  • Eviation Aircraft (Israel)

  • Cennas Aircraft Company (Kansas, the
    U.S.)

  • Gulfstream (Georgia, the U.S.)

  • Embraer SA (State of São Paulo, Brazil)

  • The Boeing Company (Illinois, the U.S.)

  • Joby Aviation (California, the U.S.)

  • Hondajet (North Carolina, the U.S.)

  • Dassault Aviation (Paris, France)

  • Textron Inc. (Rhode Island, the U.S.)

  • Bombardier, Inc. (Montreal, Canada)

  • Airbus SE (Leiden, the Netherlands)

Get your Customized Research
Report: 
https://www.fortunebusinessinsights.com/enquiry/customization/business-jet-market-101585

 

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at highlighting the most lucrative growth opportunities for our clients. We,
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Read Press Release: https://www.fortunebusinessinsights.com/press-release/business-jet-market-9322

 

 













































































 

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