The global business jet market is expected to reach $33.8 billion by the end of 2020, according to the new market research report.

‘Business Jet Market by Aircraft Type (Light Jet, Mid-size Jet, Large Jet), by Geography (North America, Asia-Pacific, Europe, the Middle East, Latin America, and Africa) – Global Forecasts, Trends & Analysis to 2020’ is published by MarketandMarkets.

This report provides a market analysis of the business jet market for the next five years. It provides an overview of the drivers, challenges, and restraints that impact the industry.

Key players profiled in the Business Jet Market report are:

  • Bombardier (Canada)
  • Gulfstream Aerospace Corporation (US)
  • Cessna Aircraft Company (US)
  • Dassault Aviation (France)
  • Embraer (Brazil).

The report also discusses the industry, market, and technology trends that currently prevail in the business jet market. It tracks, analyses, and lays out the market size of the major spenders in each region. It also analyses the types of business jet aircraft such as light jets, mid-sized jets, and large jets. It provides information of the leading competitors in the business jet market.

The report provides details on their financial positions, key products, their unique selling points, and key developments. This research report segments the market on the basis of aircraft type, region, country, forecasting revenues, market share, and analyzing trends in each of the sub-sectors.

The business jet market can qualitatively be segmented into two major categories-branded charters (which also include air taxis) and fractional ownership. The air charter market has shown significant growth since its inception, which was about five decades back.

There were about 3,650 worldwide charter and air taxi fleets in 2013. The primary demand for chartered flights is due to consistent demand from North America and Europe, which constitutes 70% of the total demand. In the recent past, the strongest fleet growth in the charter market has been observed from APAC, Latin America, and Africa.

A competitive landscape with respect to the identification of key players and their market share has also been provided in the report.