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Business Jet Market Share, Forecast 2025 | Industry Trends Report

Business Jet Market Analysis Report By Type, By Business Model, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619990  |  Published: August 2020  |  No of Pages: 113
Format: Electronic (PDF)  |  Industry: Automotive & Transport  |  Publisher: Grand View Research

Industry Insights

The global business jet market size was accounted for USD 23.57 billion and a total of 703 jets were delivered in 2018. It is projected to grow at a CAGR of 3.0% from 2019 to 2025. Growing wealth creation and increasing trend of aviation business especially in developing countries are expected to propel the industry growth. Moreover, the companies are launching new and advanced business models such as fractional ownership that provide full ownership of aircraft to the customer, which is expected to propel the demand for the jets.

The industry is heavily competitive in nature. However, the increasing number of startups businesses in the aviation industry is also projected to support the market growth. Furthermore, the demand for jets is on the rise owing to the commercialization of jets for intracity and intercity travel. These jets are widely used across public transport, government applications, express deliveries, and armed forces.

Asia Pacific business jet market

These business jets provide high comfort, performance, and are economical, these factors are expected to surge the market growth. Additionally, a growing number of high net worth individuals across the globe is also increasing the sales of business jets. Moreover, fractional ownership is allowing the operators to replace their old jets with new jets, which is projected to proliferate the demand for jets in the coming few years.

Consumers prefer business aviation due to its high comfort, privacy, and convenience measures. Thus, the increasing demand for jets is estimated to impact cost and supply. Therefore, in order to meet the changing customer demand, companies are introducing member plans, programs private jet cards, and charter accounts to attract more consumers.

Type Insights

Based on the type, the business jet market is divided into light, medium, and large categories. In 2018, the light type segment delivered the jets of market share of over 43.0% in the overall market. These jets are offered with low purchasing costs and operational costs. Moreover, launches of new models in the segment are expected to spur market growth.

The large type segment is projected to grow at a CAGR of around 5.0% from 2019 to 2025. Large aircraft provide high speed, comfort, and other services, which is expected to trigger market growth. Various manufacturers such as Dassault Aviation, Gulfstream, and Bombardier have large jets in their business portfolio. Large jets offer better flexibility and performance in a long flight.

Business Model Insights

The business ownership segment has led the market and accounted for over USD 13.0 billion in 2018. Ownership is comprised of two types such as full ownership and fractional ownership. The Fractional ownership business is estimated to expand at the fastest CAGR over the forecasted period. In this type, the customer gets on-demand access through fractional card plans and programs.

The on-demand service segment is expected to register the fastest CAGR from 2019 to 2025. These services include business models such as branded charters, jet cards plans, and air taxis. The branded charters have witnessed substantial growth in the last few years and are expected to continue their trend in the industry.

Global business jet market

In addition, to reduce the deadhead costs, the operators focus on implementing airline-style practices. Some of the key operators include NetJets, VistaJet, Comlus and FlexJet. These business expansions are projected to surge the market growth.

Regional Insights

In 2018, the North American region led the business jet market with the highest market share of over 55.0% in the overall market. It is expected to maintain its position in the market. In the U.S., growing demand for replacement and new aircraft is anticipated to boost regional growth. In addition, the rapid expansion in dedicated airports, suppliers, and fixed base operators is expected to create a huge opportunity for aircraft OEMs.

The Middle East & Africa is projected to propel at the highest CAGR of over 6.0% during the forecasted period. The growing development of aviation infrastructure in the countries such as the UAE and Qatar is expected to boost the market growth. Moreover, longer distances between cities and the inefficient transportation network are proliferating the demand for business jets. Furthermore, increasing income levels of consumers in the region is also anticipated to bolster the demand for the industry.

Impact of COVID-19

COVID-19 pandemic has severely impacted the aviation industry. The ongoing coronavirus crisis has caused travel restrictions, supply chain disruption. According to ACI World, Air traffic in the Asia Pacific is adversely impacted with traffic volume down by 24.0% during the first quarter of 2020.

International Air Transport Association (IATA) has estimated that the aviation industry is projected to incur a loss of revenue of USD 252.0 billion. Various factors such as delays in aircraft maintenance activities, production of jets are expected to hamper the market growth.

Business Jet Market Share Insights

Leading players in the market include Dassault Aviation; Bombardier Inc.; Textron Inc.; Airbus SE; Gulfstream; Pilatus Aircraft Ltd.; and The Boeing Company.

Companies in the market invest heavily in technological advancements, new product development to remain competitive in the market. For example, Honda Aircraft has introduced Honda HA-420 in 2016.

Report Scope



The base year for estimation


Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million, Deliveries in No. of Units & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).

Country scope

U.S., Canada, Germany, U.K., France, Spain, Switzerland, Japan, China, India, Singapore, Brazil, Mexico, South Africa, UAE, and Saudi Arabia

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global business jet market report on the basis of type, business model, and region:

• Type Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)
    • Light
    • Medium
    • Large

• Business Model Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)
    • On-demand Service
        • Air Taxis
        • Branded Charters
        • Jet-card Programs
    • Ownership
        • Fractional Ownership
        • Full Ownership

• Regional Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Spain
        • Switzerland
    • the Asia Pacific
        • China
        • India
        • Japan
        • Singapore
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa (MEA)
        • South Africa
        • UAE
        • Saudi Arabia

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