Dublin, Jan. 27, 2020 (GLOBE NEWSWIRE) -- The "Business Jets Market by Aircraft Type (Light, Mid-Sized, Large, Airliner), Systems (OEM Systems, Aftermarket Systems), End-User (Private, Operator), Point of Sale (OEM, Aftermarket), Services, and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global business jets market is estimated at USD 24.7 billion in 2019 and is projected to grow to USD 36.4 billion by 2030, at a CAGR of 3.6% during the forecast period.

Major companies profiled in the report include Bombardier (Canada), Embraer (Brazil), Textron Inc. (US), Gulfstream (US), Airbus (Netherland), and Boeing (US), among others.

An increasing number of high net worth individuals is one of the significant factors driving the business jets market

Besides an increasing number of high net worth individuals, aging fleet size and upcoming new aircraft programs are expected to drive the growth of the market.

Based on aircraft type, large segment projected to lead business jets market during the forecast period

Based on aircraft type, the large segment is projected to lead the business jets market during the forecast period. This growth can be attributed to the comfort that large business jets provide. Large jets comprise standard heavy jets and ultra-long-range heavy jets, which are priced much higher than light and mid-sized jets. The delivered volume of large jets is 1/3rd that of total business jets, and its price is more than double of average business jet price, leading to a larger market share.

North America is estimated to account for the largest share of the business jets market in 2019

North America region is expected to account for the largest share of the global market in 2019. This can be attributed to the maximum number of high-net-worth individuals in this region, and the presence of major business jet manufacturers in this region such as Textron (US), Bombardier (Canada), and Gulfstream (US), among others. Additionally, the availability of airports across North America enables ease in business travel across the region. Geographically, North America is the biggest region, by area, hence it is important for business travelers to opt for the fastest mode of transport to save time, resulting in increasing demand for business jets.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Business Jets Market, 2019-2030
4.2 Business Jets Market, By Aircraft Type
4.3 Business Jets Market, By End-use
4.4 Business Jets Market, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Introduction of New Programs
5.2.1.2 Recommencement of Global Economic Growth
5.2.1.3 Aging Fleet Size
5.2.1.4 Increasing Number of High-Net-Worth Individuals
5.2.2 Restraints
5.2.2.1 Lengthy Period of Product Certification From Aviation Authorities
5.2.2.2 Uncertainty of Orders
5.2.3 Opportunities
5.2.3.1 Evtol Aircraft
5.2.3.2 Advent of Hybrid-Electric Aircraft Propulsion Technology
5.2.3.3 Entry of New Business Jets OEMs
5.2.3.4 Rising Demand for Business Jets From Emerging Markets
5.2.4 Challenges
5.2.4.1 Unavailability of Infrastructure
5.2.4.2 Rising Fuel Prices

6 Industry Trends
6.1 Introduction
6.2 Ecosystem
6.3 Key Influencers
6.4 Current and Futuristic Trends
6.4.1 Sophistication of Cabin Interiors
6.4.1.1 Cabin Lighting
6.4.1.2 IFEC
6.4.1.3 Cabin Management Systems
6.4.2 Autonomous Business Aircraft
6.4.3 Electric Propulsion
6.4.3.1 Hybrid Electric Propulsion System Design
6.4.3.2 All-Electric Propulsion System Design

7 Business Jets Market, By Aircraft Type
7.1 Introduction
7.2 Light
7.2.1 Rising Demand for Inexpensive Ultra-Short-Haul Journeys is Driving the Growth of the Light Segment
7.3 Mid-Sized
7.3.1 Increase in Intercity Travel is Driving the Market for Mid-Sized Business Jets
7.4 Large
7.4.1 Increase in the Customization and High Demand for Extra Range in Business Aviation is Driving the Market for Large Business Jets
7.5 Airliners
7.5.1 Increasing Demand for VVIP Travel is Driving the Airliners Segment

8 Business Jets Market, By End-use
8.1 Introduction
8.2 Private
8.2.1 Increasing use for Personal, Corporate, and Governmental Purposes is Expected to Drive the Private Segment
8.3 Operator
8.3.1 Charter Services and Jet Card Programs Driving the Demand for Business Jets By Operators

9 Business Jets Market, By Point of Sale
9.1 Introduction
9.2 OEM
9.2.1 Conventional
9.2.1.1 Increasing Demand for Business Flights is Estimated to Drive the Conventional Segment
9.2.2 Hybrid-Electric
9.2.2.1 Electrification of Aircraft is Estimated to Drive the Demand for Hybrid Electric Propulsion in the Business Jets Market
9.3 Aftermarket
9.3.1 Maintenance, Repair, and Overhaul (MRO)
9.3.1.1 Increasing Maintenance and Overhaul of Existing Business Jets Fleet is Expected to Drive the Growth of the MRO Segment
9.3.2 Parts Replacement
9.3.2.1 Increase in Business Jet Flight Hours is Among the Factors Contributing to the Demand for Retrofit Parts for Aircraft

10 Business Jets Market, By Systems
10.1 Introduction
10.2 OEM Systems
10.2.1 Aerostructures
10.2.1.1 Fuselage
10.2.1.1.1 Increase in Demand for Monocoque Fuselage is Driving the Growth of the Fuselage Segment
10.2.1.2 Empennage
10.2.1.2.1 Demand for More Safer Rides is Driving the Empennage Segment
10.2.1.3 Flight Control Surfaces
10.2.1.3.1 Ease Maneuverability of Aircraft Aided By Flight Control Surfaces is Expected to Drive the Growth of Flight Control Surfaces Segment
10.2.1.4 Wings
10.2.1.4.1 Introduction of Lightweight Wings is Driving the Growth of Wings Segment
10.2.1.5 Nacelle and Pylon
10.2.1.5.1 Advancements in Aerospace Materials are Resulting in the Development of High Strength Nacelle and Pylon
10.2.1.6 Nose
10.2.1.6.1 Increasing Need to Enhance the Aerodynamics of Business Jets is Driving the Nose Segment
10.2.2 Avionics
10.2.2.1 Flight Management Systems
10.2.2.1.1 Need to Smoothen Flight Planning Operations is Driving the Demand for Flight Management Systems
10.2.2.2 Communication Systems
10.2.2.2.1 the Expected Commercialization of 5g in Business Aviation is Likely to Drive the Demand for Communication Systems
10.2.2.3 Navigation Systems
10.2.2.3.1 Growing Need for Autonomous Navigation is Driving the Navigation Systems Segment
10.2.2.4 Software
10.2.2.4.1 Development of Analytical Software Algorithms is Driving the Demand for Software for Business Jets
10.2.3 Aircraft Systems
10.2.3.1 Hydraulic Systems
10.2.3.1.1 Requirement of Hydraulics for Heavy-Duty Applications in Business Jets is Expected to Drive the Growth of Hydraulic Systems Segment
10.2.3.2 Pneumatic Systems
10.2.3.2.1 Increasing Demand for Aircraft Valves is Expected to Drive the Pneumatic Systems Segment
10.2.3.3 Environmental Control Systems
10.2.3.3.1 Increasing Demand for Enhanced Passenger Comfort is Expected to Drive the Environmental Control Systems Segment
10.2.3.4 Emergency Systems
10.2.3.4.1 Growing Awareness Regarding Aircraft Safety is Expected to Drive the Demand for Emergency Systems
10.2.3.5 Electrical Systems
10.2.3.5.1 Increasing Demand for More Electric Aircraft is Driving the Growth of Electrical Systems
10.2.3.6 Propulsion Systems
10.2.3.6.1 Introduction of Hybrid Propulsion is Driving the Demand for Propulsion Systems
10.2.3.7 Landing Systems
10.2.3.7.1 Electrification of Landing Systems is Expected to Drive the Growth of the Landing Systems Segment
10.2.4 Cabin Interiors
10.2.4.1 Seats
10.2.4.1.1 Demand for Enhanced Passenger Comfort and Growing Preference for Electric Seats are Expected to Drive the Seats Segment
10.2.4.2 IFEC
10.2.4.2.1 Increasing Demand for Internet Connectivity During Air Travel is Driving the IFEC Segment
10.2.4.3 Galley
10.2.4.3.1 Customization of Galley Components is Expected to Drive the Growth of the Galley Segment
10.2.4.4 Panels
10.2.4.4.1 Panels Provide Support to Internal Wires and Critical Systems in Business Jets
10.2.4.5 Stowage Bins
10.2.4.5.1 Demand for Extra Luggage Space is Expected to Drive the Stowage Bins Segment
10.2.4.6 Lavatory
10.2.4.6.1 Increase in the Demand for High-Tech Lavatories in Business Jets is Expected to Drive the Growth of the Lavatory Segment
10.2.5 Doors, Windows, and Windshields
10.3 Aftermarket Systems
10.3.1 Aerostructures
10.3.2 Avionics
10.3.2.1 Flight Management Systems
10.3.2.2 Communication Systems
10.3.2.3 Navigation Systems
10.3.2.4 Software
10.3.3 Aircraft Systems
10.3.3.1 Hydraulic Systems
10.3.3.2 Pneumatic Systems
10.3.3.3 Environmental Control
10.3.3.4 Emergency Systems
10.3.3.5 Electrical Systems
10.3.3.6 Propulsion Systems
10.3.3.7 Landing Systems
10.3.4 Cabin Interiors
10.3.4.1 Seats
10.3.4.2 IFEC
10.3.4.3 Galley
10.3.4.4 Panels
10.3.4.5 Stowage Bins
10.3.4.6 Lavatory
10.3.5 Doors, Windows, and Windshields

11 Business Jets Services Market
11.1 Introduction
11.2 Business Jets Services Market, By Type
11.2.1 Charter Services
11.2.1.1 Shared Private Jet Services to Help Optimize Charter Fleet Operations
11.2.2 Jet Card Programs
11.2.2.1 Debit as You Fly Program
11.2.3 Fractional Ownership
11.2.3.1 Shared Ownership With Benefits of Charter Service
11.3 Aircraft Management Services
11.4 Business Jets Services Market, By Leasing Type
11.4.1 Wet Lease
11.4.1.1 Leasing an Aircraft With All Supporting Services - Short Term Lease
11.4.2 Dry Lease
11.4.2.1 Lease an Aircraft With No Additional Services - Long Term Lease

12 Regional Analysis
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia-Pacific
12.5 Middle East
12.6 Latin America
12.7 Africa

13 Competitive Landscape
13.1 Introduction
13.2 Competitive Analysis
13.2.1 Business Jets Market Competitive Leadership Mapping (Overall Market)
13.2.1.1 Visionary Leaders
13.2.1.2 Innovators
13.2.1.3 Dynamic Differentiators
13.2.1.4 Emerging Companies
13.2.2 Business Jets Market Competitive Leadership Mapping (Startups)
13.2.2.1 Progressive Companies
13.2.2.2 Responsive Companies
13.2.2.3 Dynamic Companies
13.2.2.4 Starting Blocks
13.3 Competitive Scenario
13.3.1 Contracts and Agreements
13.3.2 New Product Launches
13.3.3 Investment, Certification, and Expansion
13.3.4 Other Strategies

14 Company Profiles
14.1 Textron Inc.
14.2 Embraer S.A.
14.3 Gulfstream Aerospace
14.4 Pilatus Aircraft
14.5 Boeing
14.6 Airbus
14.7 Bombardier Inc.
14.8 Dassault Aviation
14.9 Honda Aircraft Company
14.10 Start-ups
14.10.1 Volocopter GmbH
14.10.2 Eviation Aircraft
14.10.3 Zunum Aero
14.10.4 Lilium GmbH
14.10.5 Joby Aviation
14.10.6 Karem Aircraft Inc.
14.10.7 Lift
14.10.8 XTI Aircraft
14.10.9 Samad Aerospace

For more information about this report visit https://www.researchandmarkets.com/r/tziohh

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