The global business jet market size is expected to reach USD 29.32 billion by 2025, registering a CAGR of over 3% from 2019 to 2025, according to a new report by Grand View Research, Inc. The global business jet deliveries are expected to reach 919 units by 2025. A rising number of high net worth individuals, especially in the mature economies, has fueled the growth. Moreover, increased access to private aviation has resulted in a significant surge in the demand for charter services, thereby supporting the revenue generation.
Passenger
safety is the top priority in the business aviation industry. Aircraft
operators seek safety approvals via independent auditing systems. The companies
operating in the marketplace focus on adopting advanced technologies for the
utmost safety of the customers. They are incorporating various technological
advancements, such as ground and satellite-based Wi-Fi, in-flight video
conferencing, and charter booking systems. These advancements are expected to
act as a driving force for the business jet market over the forecast period.
The
OEMs are increasingly replacing mechanical flight control systems with
lightweight digital flight systems. Reducing an aircraft’s weight increases its
payload capacity, as well as the ability to fly greater distances with the same
payload. The OEMs are also implementing new engine designs that focus on
improving propulsion efficiency while reducing emission and noise levels. Such
innovations by the business jet OEMs are expected to induce immense potential
to the market size till 2025.
For Full Research Report On Business Jet Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/business-jet-market
Further key
findings from the report suggest:
- Growing popularity of
long-range aircraft, which offer optimum performance and comfort, is
driving the market
- Companies in the business
jet market are shifting their focus toward membership programs, including
preferred charter accounts and member plans, which offer additional fleet
options and reduced rates to the customers
- Middle East and Africa is
witnessing a rising demand for large and medium jets owing to long
distances between cities and difficult ground transportation, thereby is
expected to emerge as the fastest growing region over the forecast period
- Large business jets are
expected to exhibit approximately 5% CAGR from 2019 to 2025 owing to
numerous benefits of these aircrafts, such as better comfort, range, and
speed as compared to the counterparts
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https://www.grandviewresearch.com/industry-analysis/business-jet-market/request/rs1
Grand View Research has segmented
the global business jet market on the basis of type, business model, and
region:
Business Jet Type
Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)
- Light
- Medium
- Large
Business Jet
Business Model Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)
- On-demand Service
- Air Taxis
- Branded Charters
- Jet-card Programs
- Ownership
- Fractional Ownership
- Full Ownership
Business Jet
Regional Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Spain
- Switzerland
- Asia Pacific
- China
- India
- Japan
- Singapore
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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