In-depth analysis of how COVID-19 is impacting the Business Jet Market

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The report "Business Jets Market by Aircraft Type
(Light, Mid-Sized, Large,
Systems (OEM Aftermarket
Airliner), Systems, Systems),
End-User
(Private, Operator), Point of Sale (OEM,
Aftermarket), Services, and Region - Global
Forecast to 2030", size is projected to grow
from an estimated USD 24.7 billion in 2019 to
USD 36.4 billion by 2030, at a CAGR of 3.6
during the forecast period. The increasing number
of high net worth individuals, upcoming new
aircraft program, and aging fleet size to drive
the growth of the market. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id33698426 Light aircraft segment is
expected to grow at the highest CAGR in the
business jets market during the forecast
period Based on aircraft type, the light segment
is projected to grow at the highest CAGR from
2019 to 2030. The growth of this segment can be
attributed to new startups focusing on
developing aircraft in the light category.
Commercialization of urban air mobility will
further drive the growth of light business jets
market, which will be used for intra- and
intercity travel. The OEM segment is expected to
grow at the highest CAGR in the business jets
market during the forecast period Based on the
point of sale, the OEM segment is projected to
grow at the highest CAGR from 2019 to 2030. The
growth of this segment can be attributed to
increasing aircraft deliveries during the
forecast period. New aircraft programs such as
Bombardiers Global 5500, 6500, and 8000
Embraers Praetor 500 and 600 and Textrons
Citation Longitude, among others contribute to
increasing OEM deliveries. Based on systems, the
avionics sub-segment of OEM systems is projected
to grow at the highest CAGR from 2019 to
2030 The growth of this segment can be attributed
to the periodic upgrades in avionics systems.
Manufacturers are currently focusing on avionics
components to develop products that are more
reliable, accurate, and efficient. Continuous
improvements in software technology have
modified the human-machine interface of avionics
systems. It has become more user-friendly and can
automate a wide variety of in- flight tasks,
thereby reducing the workload of the flight crew
to a large extent.
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Asia Pacific is expected to be the
fastest-growing region for business jets market
during the forecast period Asia Pacifics GDP
forecast is estimated to rise in the coming
years, with developing countries such as China
and India expected to have considerable growth
potential for the market. China, in recent
times, has become a market for huge foreign
investments due to the stable growth and robust
developments in its economy. With improvements
in technology, business jets are acting as the
emerging frontiers in the aircraft industry.
Investments in more efficient power electronics,
lightweight components, and competent batteries
together drive the business jets market. Key
Market Players Major players operating in the
business jet market include Bombardier (Canada),
Embraer (Brazil), Textron, Inc. (US), Gulfstream
(US), Airbus (Netherland), and Boeing (US),
among others. These players offer business jets
of various aircraft type including super light,
light, mid-sized, super mid-sized, large, and
airliner. These companies have well-equipped
manufacturing facilities and strong distribution
networks across North America, Europe, Asia
Pacific, Latin America. Dont miss out on
business opportunities in Business Jets Market.
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