Global Analysis of Private Jet Market Forecasts to 2022-2030 and Industry Estimation with Key Players

Global private jet market is estimated to project a CAGR of 4.1% over the forecast period (2022 – 2030).

PUNE, MAHARASHTRA, INDIA, March 25, 2022 /EINPresswire.com/ — Absolute Markets Insights have included a latest addition of global market research report titled as Private Jet Market to its expansive repository. The report studies primary and secondary research in order to analyze the data effectively. The market study further also draws attention to crucial industry factors such as global clients, potential customers, and sellers, which instigates positive company growth. In order to gauge turning point of the businesses, significant market key players are also enlisted in order to deliver readers with in-depth analysis about industry strategies.

Private jets have emerged as a safe and reliable travel option for people at large amidst the spread of the coronavirus pandemic, thereby fueling the growth of the global private jet market. As commercial flights were cancelled during the pandemic and subsequent lockdown, people started to opt for private jets. Moreover, the demand for leisure trips after the lockdown had increased tremendously and people were opting private jets for travelling so as to ensure minimum risk of infection. Few airline companies were offering private jets for patients that needed to be relocated to their home country. Governments had also eased the norms and regulation for private jets to deliver vaccines and medical supplies during Covid-19, which gave the private jet market an additional boost.

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Global private jet market is estimated to project a CAGR of 4.1% over the forecast period (2022 – 2030). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.

The global outbreak of COVID-19 caused not only a partial collapse of the air transport, but travelling has got even more complicated and many people are yet reluctant to travel. Covid-19 has changed the way for travelling. A huge population is now opting to fly through private jets as they are safer and minimize the risk of contracting any infectious disease. As number of commercial flights were cancelled by regulatory authorities, the private jets were in a huge demand. Several private jet charter companies, who are also amongst the strong consumers for private jet market manufacturers, are offering private jets through membership programs, wherein a huge population opted for these programs to travel safely. Moreover, governments of various countries had allowed private jets to fly domestically and internationally, to deliver vaccines for Covid-19 to various locations. The changing consumer preferences along with flexible charter options available is aiding the growth of private jet market.

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Key Findings:

• Based on the private jet type, large private jets are estimated to accelerate with the highest growth rate in the global private jet market over the forecast period. The demand for private jet is high as it offers larger cabin space that can accommodate approximately 15 to 19 people.

• The new private jet segment is gaining traction in the global private jet market and is anticipated to surge with a substantial growth rate over the period of next eight years. The inventory of pre-owned private jets has reduced considerably. Business owners and individuals are compelled to procure new private jets, although there is a spike rise in the wait time for delivery.

• Individual and corporate consumers in the global private jet market are anticipated to witness fastest growth rate over the forecast period. The private jet manufacturers have reported to have received an increased interest from this sector to procure new private jets, irrespective of the long delivery timelines.

• Asia Pacific is anticipated to witness highest growth rate over the forecast period in the global private jet market. A huge population from these countries are looking forward to procure private jets for luxury travelling along with safety. Increasing demand from the corporate sector is another factor fueling the region’s growth in the global market.

• Investments towards development of all electric private jets is predicted to proliferate the growth of private jet market over the forecast period.

Following are some of the key players in the global private jet market:

• Airbus

• Boeing

• Bombardier

• DASSAULT AVIATION

• Embraer

• Gulfstream Aerospace Corporation

• PILATUS AIRCRAFT LTD

• Textron Aviation Inc.

• Honda Aircraft Company

• PIAGGIO AERO INDUSTRIES S.p.A.

• Other Market Participants

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Global Private Jet Market

• By Type

o Light Private Jets

o Mid-Size Private Jets

o Large Private Jets

• By Revenue Model

o New

o Pre-Owned

• By End Users

o Individuals and Corporate

o Operators

• By Region

o North America (U.S., Canada, Mexico, Rest of North America)

o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe

o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific

o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)

o Latin America (Brazil, Argentina, Rest of Latin America)

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