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In 2016, North America accounted for the largest share, of about 50%, of the global business jet market. The largest business charter fleet in the region is based in the US, Canada, and Mexico. The existing infrastructural capacity and high number of older aircraft, globally, are expected to be the cause of increased demand for new aircraft. A high number of HNIs in the region, improvement in the demand-side dynamics, increase in the ownership benefits, and the increasing number of aircraft programs and initiatives, are the major factors driving the business jet market in North America. Organizations, including ASEAN and APEC, along with International Civil Aviation Organization (ICAO), International Business Aviation Council (IBAC), and the Asian Business Aviation Association (AsBAA) have been continuously involved in revising transportation regulations, to implement more efficient solutions for business jet operations.
With the rise in demand for business aviation services, there is also a significant concern about the shortage of aviation professionals in the region. The shortage of aviation professionals is critical to the business aviation industry. Apart from pilots, mechanics and engineers tend to ask for higher salaries to join the business aviation industry. The investment required to train certified flight crew and mechanics is high. Despite such investment, the standards and experience to cater to needs of the business jet industry are unmet.
Technological Advancements
A major area of development that the business jet manufacturers have been involved, is in the introduction of the supersonic business jet (SSBJ). These business jets are planned to be small, intended to travel at speeds akin to Mach 1.0, and are typically designed to carry about 10-12 passengers. At present, SSBJs is only a concept, where several manufacturers have been working on the designing of these jets. For instance, Aerion SBJ is a concept for a supersonic business jet, designed by Aerion Corporation.
Key Developments in the Market
• January 2018: Aerolíneas Ejecutivas expanded a fractional fleet in Mexico with new Cessna Citation Latitude aircraft.
• January 2018: Bombardier debuted a global 7000 Mock-Up at Jetex private terminal, in Dubai
Major players: BOMBARDIER, CESSNA, GULFSTREAM, AIRBUS, BOEING, EMBRAER, BEECHCRAFT, DASSAULT, XOJET amongst others.
Reasons to Purchase this Report
• Provides Latest Insights into the North America business jet market
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• Detailed analysis on the region expected to witness fastest growth in the market
3 months analyst support along with the Market Estimate sheet (in excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
With the rise in demand for business aviation services, there is also a significant concern about the shortage of aviation professionals in the region. The shortage of aviation professionals is critical to the business aviation industry. Apart from pilots, mechanics and engineers tend to ask for higher salaries to join the business aviation industry. The investment required to train certified flight crew and mechanics is high. Despite such investment, the standards and experience to cater to needs of the business jet industry are unmet.
Technological Advancements
A major area of development that the business jet manufacturers have been involved, is in the introduction of the supersonic business jet (SSBJ). These business jets are planned to be small, intended to travel at speeds akin to Mach 1.0, and are typically designed to carry about 10-12 passengers. At present, SSBJs is only a concept, where several manufacturers have been working on the designing of these jets. For instance, Aerion SBJ is a concept for a supersonic business jet, designed by Aerion Corporation.
Key Developments in the Market
• January 2018: Aerolíneas Ejecutivas expanded a fractional fleet in Mexico with new Cessna Citation Latitude aircraft.
• January 2018: Bombardier debuted a global 7000 Mock-Up at Jetex private terminal, in Dubai
Major players: BOMBARDIER, CESSNA, GULFSTREAM, AIRBUS, BOEING, EMBRAER, BEECHCRAFT, DASSAULT, XOJET amongst others.
Reasons to Purchase this Report
• Provides Latest Insights into the North America business jet market
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• Detailed analysis on the region expected to witness fastest growth in the market
3 months analyst support along with the Market Estimate sheet (in excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
