Global Business Jet Market - 2021-2030 - Market Dynamics, Competitive Landscape, OEM Strategies & Plans, Trends & Growth Opportunities and Market Outlook - Gulfstream, Bombardier, Dassault, Textron, Embraer
Global Business Jet Market in the Super Cruise Phase Fuelled by Growing Demand for Private Aviation amid ongoing Pandemic Woes
The Global Business Jet market has been making a strong & steady recovery from the pandemic woes and is faring much better than its way larger, commercial aviation counterpart, in the pandemic stricken world witnessing a rapid surge in need for private travel, and is experiencing a strong uptick in demand, sales & fleet utilization across the board. The market for business jets has witnessed a strong recovery, spearheaded by the U.S., marked by a sharp increase in aircraft deliveries along with a surge in order intake across industry OEMs, for the first half of 2021.
The market demand dynamics, too, have been even across market segments and have been favorable even for the light & medium jets segments as well, this time round, with an unusual demand renaissance for business & private aviation with the erstwhile first/business class travel effectively giving way to private flights. A strong proportion of demand for light & pre-owned business jets is coming from first time jet buyers, amid ongoing pandemic woes and the growing need for safe & secure bio-bubbles, with the ongoing conditions likely to continue to favor demand for business jets over near term. The demand originating from corporate customers & high net worth individuals, the core & traditional pivots of business aviation, too, remains buoyant.
The pre-owned business jet market, too, has been doing really well with demand outpacing supply by a huge margin and spiking up the prices in turn, while simultaneously, also narrowing the price gap between new & pre-owned aircrafts and turning it effectively into a seller’s market in an unusual turn of events. Bombardier's latest foray into the pre-owned segment is a clear testimony. This gold rush for private jets is also likely to give a significant boost to demand for new jets going forward. Some industry OEMs have already raised their profit forecasts for 2021 and are also mulling plans for production rate increases over near term subject to the ability of supply chains to tag along. The fleet activity levels across operators and private business jet owners, too, have already resurged to pre-pandemic levels in the U.S., auguring well for the industry. Overall, the business jet market is likely to register a strong, double digit year-on-year growth for the year 2021 with an average 4%-5% CAGR growth rate likely to be clocked through the end of the decade.
The long term fundamentals of business aviation remain strong & well in place, with regulatory mandates & sustainability focus, likely to drive new aircraft sales apart from modernization & upgrade of existing aircrafts translating into an overall fillip for the industry over medium term. Additionally, the market dynamics for business jets are likely to witness a major disruption & transformation with the advent of supersonic business jets, which are likely to become a reality towards the middle-to-late 2020s, with a number of start-ups & industry OEMs working actively towards the same and operating at different stages of R&D. Business aviation is also likely to face a stiff challenge from upcoming civil rotorcrafts, starting with the AW609 which is likely to enter service over near term, apart from taking on the innovative & disruptive business models, likely to be unfolded on the Urban Aerial Mobility (UAM) front, over medium term.
Against this backdrop, the report provides comprehensive insights & strategic analysis into the Global Business Jet market with focus on a blend of quantitative & qualitative analysis. Part 1 of the report analyzes the current market size, drivers & competitive landscape for business jets. Part 2 provides detailed analysis on key industry OEMs, including, profiles & snapshot of product portfolios, financial analysis, SWOT framework analysis and key insights into the strategies & plans of these OEMs. Part 3 projects the market evolution likely over medium term with analysis of key market & technological trends, issues & challenges, market developments & potential growth opportunities which could be leveraged by the industry value chain. The report concludes by analyzing market evolution and projecting demand outlook for business jets through the end of present decade.
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 Projections over Medium Term
Mapping the convergence between Industry & Company growth trajectories
Assessing potential impact of emerging Market Trends & Developments
Contingency planning for current Strategies & Aircraft Programs
Identifying & highlighting areas for potential Strategic Changes, Adjustments & Realignment
Key Decision-Makers across Industry Value Chain
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook