The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increase in demand for business jets for various application are expected to drive innovation in business jets manufacturing, thus driving the market during the forecast period.

The global business jets market is expected to grow from $20.38 billion in 2022 to $20.85 billion in 2023 at a compound annual growth rate (CAGR) of 2.3%. The business jets market size is expected to grow to $24.64 billion in 2027 at a CAGR of 4.3%.

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Global Business Jets Market Segments Include:

• By Type: By Aircraft Type: Light, Mid-Sized, Large Business Jets, Airliner Business Jets
• By Point Of Sale: OEM, Aftermarket
• By End Use: Private, Operator
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global business jets market in 2021.

Major Market Players in the business jets market include Airbus SE, The Boeing Company, Bombardier Inc., Dassault Aviation SA, Embraer SA, Gulfstream Aerospace Corporation, Textron Inc., Honda Aircraft Company.

Technology advancement is a key trend gaining popularity in the business jets market. Advancements in technology include the use of the most advanced technologies such as fighter technology in business jets with advanced safety features, the largest cabin, innovative flight deck, and other features. Key players are focusing on launching technologically advanced business jets to offer customers an unmatched experience with all safety features. For instance, in May 2021, a French manufacturer of military aircraft and business jets Dassault Aviation introduced Falcon 10X, featuring Industry’s largest cabin and most advanced technology on a business jet. The Falcon 10X will provide unrivalled passenger comfort on both short and long-haul flights, as well as ground-breaking safety measures derived from Dassault’s frontline fighter technology. Dassault Aviation optimized every component of this business aircraft to take the ultra-long-range aircraft to a new level of capabilities. It also features new structures, and materials enabling ultra-efficient power, and has an advanced flight deck technology with touch screens throughout the cockpit.

The Business Jets Global Market Report 2023 provides a business jets market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The business jets market forecast analyzes business jets market size, business jets market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Business jets refer to jet aircraft that are used to transport small groups of people, also known as private jets. Some governmental bodies, government personnel, and military services use business jets for other purposes like the evacuation of casualties or quick parcel deliveries.

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