DUBLIN--(BUSINESS WIRE)--The "Global Business Jets - Market and Technology Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The rise of surveillance technologies like ADS-B and the rising popularity of heavy Jets and long-range aircrafts have acted as key drivers in the Business Jet Market. The recent growth in private aviation passengers can be attributed to programs such as membership programs, on-demand chartering, and fractional ownership which have taken off around the world. The Federal Aviation Administration (FAA) of the United States announced its policy for issuing air traffic control (ATC) authorizations to individuals seeking to operate aircrafts which are not equipped with ADS-B Out equipment in ADS-B airspace after Jan. 1, 2020.
Digitization is a trend that is expected to bring about disruption in the Business Jet market. Online brokers are expected to serve approximately 70 percent of the market in the next few years. The number of online brokers is expected to be consolidated to 5-10 by the end of the forecast period. Currently, traditional business models like fractional ownership or charter are dominant in the business jet market.
The total Global Market for Business Jets is estimated at around USD 10 billion in 2020 and the market is expected to grow with a CAGR of around 16% to USD 32 billion by 2028. North America is expected to account for approximately 60 percent of the market by the end of the forecast period. This is due to the fact that the majority of the business jet manufacturers operate out of the North American region.
Reasons to buy
- The new players in the Business Jets market and the potential entrants into this market can use this report to understand the key market trends that are expected to shape this market in the next few years
- The Market Analysis Chapter covers the Key Drivers, Restraints, and Challenges of the Business Jets Report. The PEST and Porter's five forces are covered in detail in this report
- The key technologies that could impact the Business Jets Market have been covered in detail, an example is a growing interest in inflight entertainment in the Business Jets market. The report can be used by sales and marketing team to formulate their medium- and long-term strategies and to reconfirm their short-term plans
- The forecast chapter would help the sales team to formulate their medium-term sales plan
- The report would help to the sales and the marketing team to understand the key segments across the top ten countries which have been analyzed in the report
- The Opportunity Analysis chapter identifies the key hot spots within the Global Business Jets Market
- The company profiles include financials, latest news, contracts, and SWOT for more than 15 companies
Who is this report for?
- Business Jet Manufacturers: The report would help to the Business Jet manufacturers in this market
- Component Manufacturers: This report would help Business Jet aircraft component manufacturers to understand the future buying trends of this market
- MRO Institutions: The Business Jet Market and the Business Jet MRO market complement each other; this report would help MRO operators to understand the future buying trends of this market
- Business Jet Service Providers: The Business Jet Service could use this report to understand the upcoming technologies in this market, like the composites
- Decision Makers: The future investment and technology focus decisions could be formulated based on the inputs of this report
- Other Stakeholders: Various other stakeholders like the asset management companies, brokerage companies and refurbishment companies could use this report to understand the overall trend in the Global Business Jet market
Market Dynamics
Drivers
- New Generation Aircraft
- Emerging Economies
- New Business Models
- The Rising popularity of heavy jets and long range aircrafts
- ADS - (Automatic dependent surveillance broadcast)
- Efforts to develop indigenous programs: domestic programs:
Restraints
- Trade War
- Economic Slowdown
- Lack of skilled manpower
- Lack of infrastructure to support business jets
- Alternatives to Business Travel
Challenges
- Product Certification
- Reduction of skilled labor
- Tightening of Regulatory Mandates
- Reduction in employment rate
- Congested Airspace
- Volatile Fuel Prices
Companies Profiled
- Airbus
- Boeing
- Embraer
- Bombardier
- Textron
- Dassault Aviation
- Gulfstream Aerospace Corporation
- Honda Aircraft Company (HondaJet)
- Lufthansa Group
- Raytheon Technologies
- General Dynamic
- General Electric
- Honeywell
- Safran
- Rolls-Royce Holdings
- Mitsubishi Heavy Industries
For more information about this report visit https://www.researchandmarkets.com/r/zc1hki
