Opportunities in the Global Business Jets Market 2015
The global business jets demand which was nearly halved during the financial crisis has now improvedand large players are launching new models in the wake of increasing demand from Middle East, Asiaand North America. The global business jets market was worth USD 20.9 billion in 2013 and isprojected to grow at a CAGR of 6.86% to USD 33.8 billion by the end of 2020.
Both North America and Europe are showing recovery in business jets demand. While both the regionshave a comparable size of economy, the private jet flight activity in North America is 3.5 timeslarger.
In the Asian region, the players are focused on China and India. It is expected that in the nextdecade the business aviation industry in India will grow three times and emerge as the third largestaviation market by 2020. Although the corruption crackdown and the new government’s policies haveslowed the economic pace of China, outlook is still bright. The Greater China area is expected to takedelivery of 2,420 business jets in the period 2013 to 2032.