Report: Global Business Jet Demand Improves



According to a ReportBuyer, the global demand for business jets, which was nearly halved during the financial crisis, has improved and large players are launching new models in the wake of increasing demand from Middle East, Asia and North America.

The global business jets market was worth $20.9 billion in 2013 and is projected to grow at a CAGR of 6.86% to $33.8 billion by the end of 2020.

Both North America and Europe are showing recovery in business jets demand. While both the regions have a comparable size of economy, the private jet flight activity in North America is 3.5 times larger. At the end of Q3/15, North America accounted for approximately 66% of global deliveries in the private jet market, up from 45% of the market share before 2008. With emerging markets experiencing pressure, North America has steadily gained market share in the past two years. In Europe, new aircraft deliveries will be offset by older jets existing in the market, which will result in almost zero net fleet growth through 2020.

In the Asian region, the players are focused on China and India. It is expected that in the next decade the business aviation industry in India will grow three times and emerge as the third largest aviation market by 2020. Although the corruption crackdown and the new government’s policies have slowed the economic pace of China, outlook is still bright. The greater China area is expected to take delivery of 2,420 business jets in the period 2013 to 2032.


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Terry Mulreany
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