18th October, 2018- Business Jet Market is anticipated to grow at a positive CAGR in the forthcoming years. Globalization of trade and fleet replacement activities are anticipated to drive the growth of business jets market over the next seven years. Such jet aircrafts offer cost-effective, safe and faster mode of conveyance and are emerging as highly preferred aircrafts amongst end-users.These jets provide several benefits such as on-demand flight scheduling, and direct access to company site locations along with reduced travel time. The Business Jets Market is projected to witness strong growth owing to increased penetration of such jet aircrafts in emerging markets of Asia Pacific region. Rise in international trade and business activities have created a huge demand for such air carriers and have subsequently lead to industry expansion.
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Top Key Manufacturers of Business Jet market are :-
- Aerion Corp.
- HyperMach Europe Aeronautics
- Lockheed Martin Corp.
- Spike Aerospace, Inc
Business Jet Market by Product Type:
- VIP Airliners
- Common Jet
Business Jet Market by Applications:
Geographical Analysis of Business Jet Market:-
The business jets market can be classified qualitatively into two services; branded charters popularly known as air taxis and fractional ownership aircrafts. The fractional ownership jets segment is projected to grow significantly as it has surfaced as an effective alternative to branded charters. It offers greater degree of anonymity and high flexibility in operations with enhanced liability protection planning.The business jets market can be segmented on the basis of aircraft into light, mid-size and large jets. The light-size jet segment is anticipated to gain traction since such commercial jets are economically feasible for new entrants to invest in the industry. However, these jets have low passenger carrying capacity and limited space. Large-size jets segment is anticipated to experience a slight dip in their growth rate owing to high costs.
High initial set-up costs and operational expenses are anticipated to challenge the business jets market growth. Rise in political tensions and sluggish economic growth in European countries have raised complicated macroeconomic conditions that have adversely affected the business jets market driving down the opportunities for industry expansion.International Air Transport Association (IATA) assists manufacturers and operators across the globe in making practical environmental policies to stimulate eco-efficient air transport to promote and create sustainable environment. Stringent regulations restrict operation of old aircrafts owing to failure in meeting noise standards. Environmental concerns owing to high carbon emissions have impeded the industry growth.
High taxes and poor infrastructure are major factors constraining the industry expansion in developing regions. The North American business aviation industry suffered greatly owing to financial offset; however, the rebound of recession has created several growth opportunities in the region. Political uncertainties in oil-producing countries may affect the business jet industry. Moreover, growing pressure to reduce costs and improve operational efficiency is poised to challenge industry augmentation.Longer lag and holdup time for jet certification process by regulatory agencies and aviation authorities have slowed down the industry development. A rise in GDP levels coupled with growth in business enterprises in Latin American countries such as Brazil and Argentina have favored industry growth in the region. Growing business activities have a need for direct city-to-city access and it is subsequently propelling the demand for commercial jets.
Business jets are expected to gain prominence in the Asia Pacific region owing to strong demand for long range large cabin commercial jets in countries such as India and China. Additionally, there exists a steady demand for commercial planes in Australia. The demand for small sized jets is projected to intensify in Malaysia. These factors collectively have contributed to industry rise in the Asia Pacific regional market.
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Major Table Of Contents:
- Executive Summary
- Market Analysis
- Business Jet Market Analysis By Regulatory
- Business Jet Market Analysis By Service Type
- Business Jet Market Analysis By Equipment Type
- Business Jet Market Analysis By Service Contract
- Business Jet Market Analysis By Service Provider
- Business Jet Market Analysis By End-User
- Business Jet Market Analysis By Geography
- Competitive Landscape Of The Business Jet Companies
- Company Profiles Of The Business Jet Industry
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