Global Light Business Jet Market 2017-2021

Overview of the global light business jet market

Technavio's market study identifies the growing demand for personal air travel to be one of the primary growth factors for the light business jet market. Technological advancements, advent of very light jets (VLJs), and expansion of airport network has increased the accessibility of personal air travels to small businesses and middle-class population. New technology has facilitated the availability of VLJs and light business jets at reasonable prices. Air taxi services are competing intensely with commercial airlines as these air taxis operate on need basis for small group of passengers and for short distances. They are cost-effective in comparison to airlines and charter planes. Our market analysts estimate that the market will grow steadily at a CAGR of close to 6% by 2021.

Aviation industry is steadily accepting aircraft designs that are resulting in supersonic speeds in the aircrafts. Companies and entrepreneurs are steadily attempting to implement supersonic flying in business jets, supported by the technological advances in materials and electronics, and the growth in global business travel. As the amount of international travel and business has increased steeply, companies are investing heavily in R&D to develop prototypes of supersonic business jets. The development of supersonic business jet is identified to be one of the key trends contributing towards the growth of the light business jet market.

What's your takeaway?

Technavio's industry research report on the Global light business jet market will help you

• Identify latent opportunities and explorative solutions in the light business jet market
• Identify your key competition, and what's making them tick?
• Build a comprehensive marketing plan that's applicable across 50+ countries

Next step: Download FREE sample report | Talk to us

Competitive landscape and key vendors

The light business jet market is intensely concentrated owing to the presence of few key vendors accounting for major market share. To attain competitive advantage in the small private jets market, key vendors are focusing on providing high-quality, cost-effective, and innovative cabins with the latest materials and avionics. Key manufacturers compete based on factors such as design, interior appearance, quality, and cost of aircraft, as well as their aftermarket service. Through M&A and contracts, light business jet manufacturers are expanding and improving their technical expertise and investments.

The leading vendors in the market are

• Bombardier
• Embraer
• Textron Aviation

The other prominent vendors in the market are Honda Aircraft Company, Cirrus Aircraft, and PILATUS AIRCRAFT.

Segmentation by aircraft type and analysis of the light business jet market

• Light business jet
• Very light business jet
• Super light business jet

Corporate travelers and businessmen are demanding for light business jets as they provide convenience in the expanding international trade. Additionally, the advent of light jets with improved range and better comfort is contributing towards the growth of the light business jet segment.

Geographical segmentation and analysis of the light business jet market

• Americas
• APAC
• EMEA

In the Americas, light business jets are used for personal, business, and corporate operations, supported by the reduced fuel prices. Light business jets original equipment manufacturers (OEMs) in this region are integrating the latest technologies and maintenance protocols to attain maximum market share. Also, this region comprises of several high-net-worth individuals and Fortune 500 companies, triggering the growth of the aviation industry.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global light business jet market?
• What are the key market trends impacting the growth of the global light business jet market?
• What are the challenges to market growth?
• Who are the key vendors in the global light business jet market?
• What are the market opportunities and threats faced by the vendors in the global light business jet market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global light business jet market?

Technavio also offers customization on reports based on specific client requirement.

The growing market in emerging economies is driving the growth of the global light business jet market. While the global light business jet market presents significant growth opportunities, the market growth is limited to a certain extent due to decline in global business aircraft market.

This research report on the global light business jet market offers deep insights into the aerospace and defense industry focusing on major segments like general aviation. Furthermore, this study also implements an in-depth market research methodology comprising of qualitative and quantitative data collection techniques to offer an all-inclusive picture of the market for the projected period of 2017-2021.

This report on the global light business jet market includes some prominent players in this market like Bombardier, Embraer, Honda, Gulfstream, and Textron Aviation. This report is segmented across several geographies like the Americas, APAC, and EMEA to help the client expand in the niche markets and formulate effective strategies.

Our report on the global light business jet market offers deep insights into the similar segments in the aerospace and defense industry like general aviation. Furthermore, this report on the global light business jet market considers similar fast-growing market like light aircraft market, which is expected to post a CAGR of around 6% by 2021.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.