Key players in this market are Bombardier Inc. (Canada), Gulfstream Aerospace Corporation (U.S.), Cessna Aircraft Company (U.S.), Dassault Aviation S.A. (France), and Embraer S.A. (Brazil).
(PRWEB) November 08, 2014
The report "Business Jet Market by Aircraft Type (Light Jet, Mid-size Jet, Large Jet), by Geography (North America, Asia-Pacific, Europe, the Middle East, Latin America, and Africa) - Global Forecasts, Trends & Analysis to 2014 - 2020”, defines and segments the global business jet market into various sub-segments with an in-depth analysis and forecasting of market sizes. The report also identifies the factors driving the market, various restraints, and opportunities impacting it, along with the adoption trends.
Browse 93 market data tables and 59 figures spread through 129 pages and in-depth TOC on “Business Jet Market”
This business jet market report provides a market analysis for the next five years. It contains an analysis of drivers, challenges, and restraints that impact the industry. It also discusses the industry, market, and technology trends that currently prevail in the market. It provides the market size of the business jet market over the next five years and talks about the market share of specific sub-sectors for each region. The business jet market is estimated to register a CAGR of 6.86% to reach $33.8 billion by 2020.
Latin America, APAC, and Africa are expected to be the key growth regions in the business jet market. Latin America accounts for 11% of the global business jet market. It has the oldest aircraft fleet in the world. Hence, expected replacements will account for a significant number of deliveries in this region. APAC constitutes about 12% of the global business jet market, with China and India being the key players. Underdeveloped infrastructure, high aircraft import taxes, and high user fees are the reasons for the small business jet fleet in these countries. Continued globalization and a burgeoning economy are expected to increase the penetration level of business jets in this region.
North America (comprising the U.S. and Canada) accounted for the largest share-52%-of the global business jet market in 2013. The already established infrastructural capacity and the highest number of older aircraft in the world are expected to be the cause of increased demand for new aircraft, thereby driving growth in the North American region.
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The air charter market has displayed significant growth since its inception, which was about five decades back. There were about 3,650 worldwide charter and air taxi fleet in 2013. The primary demand for chartered flights is due to consistent demand from North America and Europe, which constitutes 70% of the total demand. In the recent past, the strongest fleet growth in the charter market has been observed from APAC, Latin America, and Africa.
The new fractional aircraft share sales remained steady compared to the previous year.Moreover, the usage of fractional fleet and the number of aircraft deliveries has increased, indicating a substantial, but constant recovery in the market. In the coming years, there will be a demand for fleet replacement from the existing fractional operators, while the demand for new aircraft is expected to come mainly from the markets wherein fractional aircraft is being introduced. Hence, APAC, Latin America, and Africa constitute the key potential regions that are expected to deliver high growth in this market. Net Jets has announced plans to open a new division in China, to serve the fast-growing Chinese business jet market.
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Key players profiled in the report are Bombardier Inc. (Canada), Gulfstream Aerospace Corporation (U.S.), Cessna Aircraft Company (U.S.), Dassault Aviation S.A. (France), and Embraer S.A. (Brazil).
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