The Global Business Jet market continues to make steady recovery from the inertia that followed the economic crisis driven by continued economic recovery underway in the U.S., surge in demand for heavy jets and introduction of a number of new aircraft programs by the industry OEMs incorporating cutting edge technologies & innovations translating into enhanced performance capabilities, safety features & optimized operating economics. The global market for business jets is estimated to be worth $21.5 billion as of 2014 and is projected to grow at 2.8% CAGR through 2033. The demand for business jets continues to recover steadily with aircraft delivery numbers in 2014 registering a 6.5% year on year growth. The delivery numbers continue to be dominated by Bombardier in volume terms & led by Gulfstream in value terms respectively with the duo collectively holding over 70% market share (based on revenues) in 2014 with continued, robust demand growth in the heavy & medium jets segments. Top 3 industry OEMs, namely, Bombardier, Gulfstream & Dassault, with their product portfolios skewed towards the medium & heavy jets segment, continue to hold over 84% market share (based on revenues/aircraft billings) collectively.
The demand for business jets is likely to continue to improve over near term with improved GDP growth projections in the U.S., Introduction of new aircraft programs by OEMs, improving market accessibility and a favorable oil price trend which is likely to boost fleet utilization & profitability across operators and expand service revenues across OEMs. Further, long term demand drivers & market fundamentals remain robust indicating towards sustained, steady demand growth for business jets over medium to long term. Additionally, the market dynamics for business jets are likely to witness major transformation with the era of supersonic business jets likely to become a reality towards the early 2020s with a number of industry OEMs, led by Gulfstream, actively pursuing R&D towards development of a range of supersonic flight technologies capable of enabling feasible supersonic flights while meeting regulatory requirements simultaneously.
Against this backdrop, the report provides strategic analysis into the Global Business Jet Market with Section 1 of the report analyzing Key Market & Technology trends. Subsequent sections provide strategic insights into latest market developments and emerging growth opportunities which could be leveraged by the industry value chain followed by an insightful force field framework analysis providing a fluid & succinct analysis of driving & restraining forces & their overall dynamics. The report concludes by analyzing market evolution and projecting demand outlook for business jets over near to medium term.
- Large Aircraft Segment to lead demand growth rate over next decade.
- Strong fundamentals & long-term, sustainable demand drivers to fuel industry growth over medium to long term.
- Introduction of new aircraft programs by OEMs & accelerated aircraft retirements to be amongst key demand drivers for new business jets.
- Global Business Jet fleet to grow at mid single-digit growth rate over forecast period.
- North America to lead aircraft deliveries over next decade followed by Europe amongst traditional markets.
- China & Latin America to lead demand growth amongst emerging markets.
- Likely emergence of supersonic business jets by early next decade to transform market dynamics & landscape significantly.
Relevance & Usefulness: The report will be useful for
- - Strategic Planning & Decision-Making process
- - Identification of & Insights into Potential Growth Opportunities & Avenues
- - Inputs on Market Evolution & Demand Projection over Medium Term
- - Mapping the convergence between Industry & Company growth trajectories
- - Assessing potential impact of emerging Market Trends & Developments
- - Contingency planning for current Strategies & Programs
- - Identifying & highlighting areas for making potential Strategic Changes, Adjustments & Realignment
For Whom: Key Decision-Makers across Industry Value Chain
The report will be essential for those associated with and having interest in the Global Business Jet market. The report will be especially useful for Key Decision-Makers, Top Management of Companies, OEMs, Suppliers, Distributors, Vendors and other Key Players in the Industry Value Chain as well as existing & potential Investors, Industry & Company Analysts, M&A Advisory Firms, Strategy & Management Consulting Firms, PE Firms, Venture Capitalists & all those associated with the industry.