According to the latest market study released by Technavio, the global light business jet market is expected to grow at a CAGR of close to 6% during the forecast period.

The research report titled, ‘Global Light Business Jet Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.

The market research analysis categorizes the global light business jet market into the following types of aircraft:

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

The global light business jet market for light jets accounted for more than 53% of the total market share in 2016. The light business jets are witnessing a growing demand from corporate travelers and businessmen due to the increase in international trade activities. In addition, the use of light jets with improved range and better comfort is propelling the light business jet market in terms of revenue generated from their sales.

In 2016, the global light business jet market for super light jets occupied close to 27% of the total market share. Super light jets are preferred over light jets because of their extended range, and they are larger compared to light jets. This type of aircraft can usually carry eight to nine passengers comfortably, depending upon the seating layout. They have spacious cabins and large baggage compartments.

The global light business jet market for very light jets accounted for around 20% of the total market share in 2016. VLJs are developed as cost-effective entry-level jets and are ideal for short flights of up to two hours. They are also suitable for transporting a small group of people that usually ranges from 4 to 6 passengers. These jets can fly for a maximum duration of three hours or an average of fewer than 1,800 miles. They can take-off from short runways and can make use of smaller private airports.