RSS   Newsletter   Contact   Advertise with us

Business jets market to grow to $33.8 billion

Share on Twitter Share on LinkedIn
Staff writer ▼ | February 19, 2015
The global business jets demand which was nearly halved during the financial crisis has now improved and large players are launching new models in the wake of increasing demand from Middle East, Asia and North America.
Business jets
Study   Opportunities in the global business jets market 2015
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.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.