Business Jet Market

The market of business jet is expected to grow from USD 95.80 billion in 2024 to USD 156.99 billion by 2032, at a CAGR of 6.4% during the forecast period. The retail transaction volume of pre-owned is projected to grow from 2,578 in 2024 to 3,289 in 2032. High-quality used business jets with the latest avionics and technology are becoming increasingly accessible, making them a desirable choice for customers looking for affordable alternatives without sacrificing comfort or performance. The ongoing innovation in refurbishment and upgrades enables older jets to meet modern performance and efficiency standards, thereby driving the market for pre-owned business jets. Also, an increase in the number of high-net-worth individuals is one of the major factors driving this market.  

Key players in the business jet market are focusing on several strategic areas to enhance their offerings, remain competitive, and address the evolving needs of the aviation industry. The key players include Bombardier Inc. (Canada), Textron Inc. (US), General Dynamics (US),  Embraer SA (Brazil), Dassault Aviation (France), The Boeing Company (US), Airbus SE (Netherlands) and Honda Aircraft Company (US) among others.

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Major Business Jet companies include:

• Airbus (Netherlands)
• Textron, Inc. (US)
• Bombardier (Canada)
• Embraer (Brazil)
• General Dynamics (US)
• The Boeing Company (US)

Textron Inc.

Textron Inc. is a global company operating in the aerospace, defense, industrial, and financial sectors. Currently, Textron Aviation, Bell, Textron Systems, Industrial, and Finance are its five business segments.  Textron Aviation is one of the top players in general aviation; it offers business jets via its subsidiary, Cessna. In 1972, Cessna produced a line of business jets known as the Citation. The Citation family includes airliners, mid-range business jets, and long-range business jets. Models such as the Cessna Citation M2 Gen2, Citation CJ3 Gen2, Citation CJ4 Gen2, Citation XLS Gen2, Citation Latitude, and Citation Longitude are a few business jet models manufactured by Textron. With 35,000 employees, Textron has increased its footprint to over 25 countries.

Embraer SA

Embraer is a prominent player in the aerospace industry, specializing in Commercial Aviation, Executive Aviation, Defense & Security, and Services & Support sectors. With a legacy of producing and delivering more than 8,000 aircraft and transporting over 145 million passengers annually, extending impact globally. In commercial aviation, Embraer is known for its regional jets, which offer efficient and reliable aircraft that serve various routes worldwide. The Executive Aviation segment provides luxurious and high-performance jets tailored for corporate and VIP travel. Phenom 100EX, Phenom 300E, Praetor 500, and Praetor 600 are the business jets offered by Embraer. Beyond aircraft manufacturing, Embraer provides comprehensive services and support, ensuring operational efficiency and customer satisfaction throughout the lifecycle of its products.

General Dynamics

Global leader in aerospace and defense, General Dynamics provides a wide range of business aviation, combat vehicles, weapons systems, and ammunition, information technology (IT) services, intelligence, surveillance, and reconnaissance (C4ISR) solutions, command, control, communications, computers, shipbuilding, and ship repair products and services. ten business units. The aerospace segment leads the business jet sector. The Gulfstream and Jet Aviation business units are part of this sector. The company offers family of  Gulfstream aircraft and provides all maintenance services for business aircraft manufactured by Gulfstream and other OEMs. The world's most technologically advanced business jet aircraft is designed, manufactured, and supported by Gulfstream. The product range consists of business jets with mid- to ultra-large cabins available in a range of pricing and performance configurations. The various combinations of size, speed, range, and interior can be personalized, resulting in aircraft most suited to every customer's particular needs. Gulfstream current product line includes G800, G600, G700, G500, G650ER, G400, G650 and G280.

Bombardier Inc.

Bombardier, the leader in the aviation industry, is committed to creating, producing, and maintaining exceptional business jets and available specialized mission platforms. More than 5,000 Bombardier aircraft are in service across the globe, serving a diverse range of global clients, including governments, private citizens, and a number of international organizations. Additionally, Bombardier is consistently expanding its defense offering through Bombardier Defence, which creates, develops, and provides operators worldwide with a wide range of reliable and adaptable specialized aircraft platforms.

Bombardier provides aftermarket and support services for the Global, Challenger, and Learjet aircraft families through a vast global network of facilities.These facilities comprise service centers situated throughout the United States, Europe, and Asia-Pacific region, in addition to mobile response teams and parts facilities that support depots, hubs, and repair facilities. The facilities mentioned above comprise service centers situated throughout the United States, Europe, and Asia-Pacific region, in addition to mobile response teams and parts facilities that support depots, hubs, and repair facilities.

Dassault Aviation

Dassault Aviation is a prominent French aerospace company specializing in the design, manufacture, and sale of military and business aircraft. The company has established itself as a leader in the aviation industry, renowned for its advanced fighter jets and luxurious business jets under the Falcon brand. Dassault Aviation offers a lineup of five business aircraft FALCON 10X, FALCON 6X, FALCON 8X, FALCON 900LX and FALCON 2000LXS designed to meet diverse travel requirements, with ranges spanning from 4,000 nm (7,408 km) to 7,500 nm (13,890 km). Dassault Aviation has delivered over 10,000 aircraft to 90 countries worldwide. The company has 2,100 Falcon jets and 1,000 fighter aircraft in active service. Dassault Aviation employs a total of 13,533 employees with 78.6% of its workforce based in France. Falcons integrate cutting-edge technology derived from Dassault's legacy in combat aircraft, including advanced cockpit systems, digital flight controls, head-up displays, superior aerodynamics, and other innovative features.  Falcon has over 60 service stations, 15 spare parts centers, and two Falcon Response support aircraft.

Related Reports:

Business Jet Market by Point of Sale (Pre-owned, OEM, Aftermarket), Aircraft Type (Light, Mid-Sized, Large, Airliner), End-Use (Private Jet User, Operator), Systems (Aerostructures, Avionics, Aircraft Systems), Range - Global Forecast to 2032

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