Global Business Jets Market Worth $33.8 Billion by 2020 – China Expected to Take Delivery of 2420 Jets by 2032 – Research and Markets
By Business Wire News
Research and Markets has announced the addition of the “Study of the Global Business Jets Market 2016” report to their offering.
Over the next decade, North America is expected to lead the market for new jets followed by Europe & Africa. It is the small and medium jets segment that will drive the demand for new business jets. The business jets sector is facing turbulence due to economic difficulties in Europe, China, and Brazil.
The global business jets market was worth USD 20.9 billion in 2013 and is projected to grow at a CAGR of 6.86% to USD 33.8 billion by the end of 2020. It is forecasted that the global demand for new business jets will reach 9,100 by 2025.
While both North America and Europe have a comparable size of economy, the private jet flight activity in North America is 3.5 times larger. With emerging markets experiencing pressure, North America has steadily gained market share in the past 3 years. In Europe, it is expected that, new aircraft deliveries will be offset by older jets exiting the market which will result in almost zero net fleet growth through 2020.
It is projected 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.
Key Topics Covered:
1. Global Business Jets Market
2. North America Business Jets Market
3. Europe Business Jets Market
4. India Business Jets Market
5. China Business Jets Market
6. Middle East Business Jets Market
7. Competitive Landscape
8. Industry Outlook
9. List of Charts & Graphs
10. Research Methodology
- Bombardier Inc.
- Cessna Aircraft
- Dassault Aviation
- Embraer S.A.
- Gulfstream Aerospace Corp.
- Honeywell International Inc.
For more information visit http://www.researchandmarkets.com/research/7495mp/study_of_the
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Sector: Business Travel