October 29, 2020

Business Jet Market Global Updates, Size, Share Estimation to 2026

The MarketWatch News Department was not involved in the creation of this content.

Sep 22, 2020 (The Expresswire) —
Business Jet Market will exhibit a CAGR of 5.37% during the forecast period and reach USD 35.56 billion by 2027,and the market value as per 2019 wasUSD 27.54 billion.

Fortune Business Insights™in a recently published report, titled, “Business Jet Market Size, Share and 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.”

Business Jet Market Drivers and Restraint:

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.


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List of Significant Manufacturers Business Jet Market are:

  • 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)

Regional Analysis-

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.

Browse Complete Summary of research Report:https://www.fortunebusinessinsights.com/industry-reports/business-jet-market-101585

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.

Someof the key industry developments in theBusiness Jet Market Include:

  • 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.

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

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Business Jet Market Global Updates, Size, Share Estimation to 2026

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