Skip to main content

Increasing number of high net worth individuals & upcoming new aircraft program To Propel Business Jets Market

The global business jets market size is projected to grow from an estimated USD 18.8 billion in 2020 to USD 38.0 billion by 2030, at a CAGR of 7.3% during the forecast period. 

The increasing number of high net worth individuals, upcoming new aircraft program, and aging fleet size to drive the growth of the market. Though the market has witnessed a slow growth in recent years, aircraft with Vertical Take-off and Landing (VTOL) capability and environment-friendly propulsion technologies, including electric and hybrid engines, are expected to reduce the operating costs drastically and serve as an opportunity for the market growth up to 2030.

Browse 234 market data Tables and 53 Figures spread through 261 Pages and in-depth TOC on "Business Jets Market - Global Forecast to 2030"

Based on aircraft type, the light segment is projected to grow at the highest CAGR from 2019 to 2030. The growth of this segment can be attributed to new startups focusing on developing aircraft in the light category. Commercialization of urban air mobility will further drive the growth of light business jets market, which will be used for intra- and intercity travel.

Download PDF Boucher: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=33698426

Based on the point of sale, the OEM segment is projected to grow at the highest CAGR from 2019 to 2030. The growth of this segment can be attributed to increasing aircraft deliveries during the forecast period. New aircraft programs such as Bombardier’s Global 5500, 6500, and 8000; Embraer’s Praetor 500 and 600; and Textron’s Citation Longitude, among others contribute to increasing OEM deliveries.

Based on systems, the avionics sub-segment of OEM systems is projected to grow at the highest CAGR from 2019 to 2030

The growth of this segment can be attributed to the periodic upgrades in avionics systems. Manufacturers are currently focusing on avionics components to develop products that are more reliable, accurate, and efficient. Continuous improvements in software technology have modified the human-machine interface of avionics systems. It has become more user-friendly and can automate a wide variety of in-flight tasks, thereby reducing the workload of the flight crew to a large extent.

Asia Pacific’s GDP forecast is estimated to rise in the coming years, with developing countries such as China and India expected to have considerable growth potential for the market. China, in recent times, has become a market for huge foreign investments due to the stable growth and robust developments in its economy. With improvements in technology, business jets are acting as the emerging frontiers in the aircraft industry. Investments in more efficient power electronics, lightweight components, and competent batteries together drive the business jets market.

Major players operating in the business jet market include Bombardier (Canada), Embraer (Brazil), Textron, Inc. (US), Gulfstream (US), Airbus (Netherland), and Boeing (US), among others. These players offer business jets of various aircraft type including super light, light, mid-sized, super mid-sized, large, and airliner. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific, Latin America.

Get Sample Here: https://www.marketsandmarkets.com/requestsampleNew.asp?id=33698426

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Comments

Post a Comment

Popular posts from this blog

Ice Protection Systems Market, By Technology, Application, Type, Platform & Region Outlook BY 2021

  The growth of the ice protection systems market is expected to be propelled by increase in air traffic, new airline business models in emerging economies, and new airport projects in developed economies. The requirement of ice protection system varies according to the platforms in which it is being used. As military operations are usually carried out from non-traditional airfields with limited facilities, it is quite imperative that the aircrafts should be equipped with ice protection systems. For chemical deicing in military aircrafts, deicing fluids with different chemical composition are used. Ice protection systems are used to prevent atmospheric ice from accumulating on aircraft surfaces. The  global ice protection systems market  is estimated to be USD 7.91 Billion in 2016, and is projected to reach USD 10.17 Billion by 2021, at a CAGR of 5.14% from 2016 to 2021. The major difference between anti-icing and deicing system is that the former system prevents ice form...
Post a Comment
Read more

Cannabis Market Is Poised To Reach $39.4 billion by 2023

The global  cannabis market  size is expected to grow from USD 10.3 billion in 2018 to USD 39.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 30.7% during the forecast period. The major factors driving the cannabis market include the growing medicinal application of cannabis and the increasing legalization of cannabis. Browse 76 market data Tables and 44 Figures spread through 149 Pages and in-depth TOC on "Cannabis Market - Global Forecast to 2023" The flower segment is estimated to be the dominant segment in 2018. The cannabis market, by product type, is estimated to be dominated by the flower segment in 2018. The dominance of this segment is largely attributable to its wider availability and its method of delivery, as smoking or vaping the cannabis flower has a quicker effect and is preferred for fast-acting relief by medical and recreational cannabis consumers. Additionally, in comparison with concentrates, flowers are able to retain a hi...
Post a Comment
Read more

Food Glazing Agents Market Size worth 3.74 Billion by 2021 | Top Companies are Mantrose-Haeuser Co., Inc. (U.S.), & Capol GmbH (Germany)

The global  food glazing agents market  is projected to reach USD 3.74 Billion by 2021, at a CAGR of 8.8% between 2016 and 2021. The report includes an estimation of market size in terms of value (USD million). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the food glazing agents market and various other dependent submarkets in the overall market. Browse 108 market data tables with 41 figures spread through 138 pages and in-depth TOC on "Food Glazing Agents Market - Global Forecasts to 2021" The report defines and segments the food glazing agents market on the basis of various ingredient types, ingredient functions, applications, and regions, with analyses and projections of the market size of each of these segments in terms of value and volume. It also identifies the driving and restraining factors for the food glazing agents market with an analysis of the trends and opportunities in the market. Browse In-dept...
Post a Comment
Read more