Global Fixed Wing Turbine Aircraft Market (20+ Seats): Opportunities, trends and Challenges (2010-2023)
The heavy jets are gradually gaining a larger share of the business jet market, with Boeing and airbus being the dominant players in this segment. The Boeing Business Jets are one of the most popular heavy jets. Airbus has even sold a business jet based on the A 380 which has been dubbed as the flying palace.
The Business Jet Market Currently is a $21 Billion Market and in the General Aviation Market Business Jets contribute the most revenue and it is this sector which is poised to show one of the fastest growth rates in the future also.. The three broad categories of business jets are Large Cabin, Medium and Small Cabin Jets.
Another Reason for this trend is that the Customers from Developing or poor Countries who seek to buy a business jet fall into the Ultra Rich Category and prefer to buy a large cabin jet instead of cheaper small one hence the large cabin jets continue to enjoy strong demand.
Market for such aircraft is the largest and contains the largest number of aircraft. All of the business jets, except the heavy jets like the A 320, A 380 fall under this category and make up the bulk of the sales in this category. Gulfstream controls the highest share in the market in this category.
The business jet segment is booming currently fuelled by increasing demand from the Middle East and the Asia Pacific region. North America continues to hold more than half of the share of the market, but is expected to give up some of its share to the Asia Pacific region which would increasingly contribute to higher sales owing to improvements in the infrastructure and loosening of the tight regulations.
Owing to increased defense expenditures in the Asia Pacific and Middle East region, the market for military turbine aircraft, is expected to rise substantially. India and China especially are ramping up purchases of such aircraft to modernize their fleet, and these markets include those of Middle East offer great opportunities for the military as well as business jet market segment. Both of the segments usually use same platforms; hence an increase in sale of either platform benefits the manufacturer.
Embraer , Comac and Bombardier are fast entering into the category which has been dominated by Boeing and Airbus in the commercial jet liners space. Both companies are struggling to make deliveries as there are more than 10,000 aircraft backlog for the aircraft currently. Recently Emirates and Indigo of India placed massive orders totaling close to $ 75 billion with Boeing and Airbus respectively. Hence most of the demand for commercial jets is coming from India, China and United Arab Emirates, and this trend will continue in the future as well. Emirates Airline in future as well will remain the biggest customer for Boeing in the world. But the duopoly is expected to break in the future which will expand the market tremendously as the waiting times for aircraft which runs in years currently reduces in the future.
What the report offers
1. Market analysis for the Medium Turbine Fixed Wing Market, with region specific assessments and competition analysis on global and regional scales
2. Market definition along with the identification of key drivers and restraints
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affect the Medium Turbine Fixed Wing Market on both global and regional scales
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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