According to IMARC Group’s latest report, titled “Business Jet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global business jet market size reached US$ 18.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028. Business jets, also known as bizjets or private jets, are specialized aircraft designed to transport a small group of individuals. Some commonly available business jets include propeller-driven jets, single-pilot airplanes, turbine aircraft, and piston jets. They are available in various classes, including light, mid-size, large, and long-range jets. As a result, business jets are employed by sports figures, government officials, corporate executives, and individuals for VVIP transportation, leisure travel, business tours, and short-haul flights. Nowadays, business jets are gaining immense traction to transport goods for armed forces, express parcel deliveries, and casualty evacuation across the globe. Request Free Sample Report: https://www.imarcgroup.com/business-jet-market/requestsample Market Trends The market is primarily driven by significant growth in the aviation industry and the escalating demand for long-range jets. In line with this, business jets offer numerous benefits, such as reduced travel time, on-demand flight scheduling, and ensuring privacy for passengers to conduct business while in flight, which is contributing to market growth. Moreover, the introduction of Electric Vertical Take-off and Landing (eVTOL) aircraft with superior urban air mobility and innovative connectivity solutions, such as interiors, avionics, and more efficient engines in the jets, represents another major growth-inducing factor. Besides this, key players are investing in hydrogen fuel-cell power jets due to their high efficiency and zero emissions qualities, accelerating the product adoption rate. Furthermore, the introduction of consumer-centric business models and membership programs, rising disposable incomes, growing regional air travel, and extensive research and development (R&D) activities among leading players are propelling the market growth. Ask Analyst and Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=2242&flag=C List of Key Companies Covered in this Market Report:
- Airbus
- Bombardier Inc.
- Dassault Aviation
- Embraer S.A.
- Gulfstream Aerospace
- Honda Aircraft Company
- Pilatus Aircraft
- Piper Aircraft
- Saab AB
- Textron Inc.
- The Boeing Company
- Light
- Medium
- Large
- On-Demand Service
- Air Taxis
- Branded Charters
- Jet-Card Programs
- Ownership
- Fractional Ownership
- Full Ownership
- < 3,000 NM
- 3,000 – 5,000 NM
- > 5000 NM
- OEM
- Aftermarket
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape