Business Aviation Accelerated After the Epidemic
Since the outbreak of the pandemic, the Global Business Jet market has been experiencing tailwinds, as evidenced by robust order intake, strong book-to-bill ratios, and burgeoning order backlogs across most industry OEMs. This is due to the rising demand for private travel, which has attracted a large number of first-time buyers.
In-service fleet utilization levels that have surpassed pre-pandemic levels have also been boosted, and the secondhand jet market has been reinvigorated with rising prices and shrinking supplies. OEMs have been working hard to increase production rates to meet rising demand, but have been hampered by supply chain interruptions and bottlenecks. The situation is progressively improving, and production rates are anticipated to return to pre-pandemic levels in the near future.
Superior Long-Term Fundamentals against Short-Term Macroeconomic and Supply Chain Obstacles
The Global Business Jet market, however, also faces a complex, difficult, and uncertain global macroeconomic environment over the near term, with the global economy, projected to be heading for a slowdown as a result of unprecedented monetary policy tightening by central banks globally, continued supply chain disruptions, challenges, and bottlenecks, and sustained geopolitical instability with the Russia-Ukraine conflict showing no signs of abating and the U.S.-China standoff further escalating.
Since that business aviation is highly associated with macroeconomic fluctuations and company earnings, this may have a substantial impact on the sector in the near future. Long-term industry fundamentals for business aviation remain solid and firmly in place, with expectations of significant tailwinds in the shape of deliveries of around 8,500 new business jets valued at $274 billion during the decade 2023-2032.
Global geopolitical instability and rising defense spending are projected to create development opportunities in adjacent segments by increasing demand for special mission versions of ordinary business jet platforms modified for ISR operations.
Transition to Sustainable Practices Priority No. 1 and Long-Term Aim for Business Aviation
Sustainability concerns continue to be the top near- to long-term concern for business aviation, which is needed to become green and become carbon-neutral by 2050 by converting to renewable energy sources. Bombardier’s release of an environmental product declaration for its most recent Global 7500 and Challenger 3500 business jets detailing the quantified environmental impact of its jets during various phases of their lifecycle attests to the gravity of the sustainability issues facing business aviation.
Further, Bombardier’s pursuit of a radical, blended-wing-body design for a future business jet with promising potential for significant enhancements in aerodynamic efficiencies and commensurate emission reductions, and Textron’s creation of e-Aviation as an entirely new business segment focused solely on sustainable flying, following its acquisition of Pipistrel earlier, are the harbingers and building blocks for the creation of a new, sustainability-oriented and responsive aviation industry.
In this context, the study examines and gives insights into major industry, market, and technological trends that are anticipated to define the future of the Global Business Aviation market over the medium term, followed by a discussion of emerging, possible growth prospects. The study also contains an analysis and evaluation of important market, technological, and industry trends, as well as concerns and challenges that are anticipated to influence and define the industry’s future in the short to medium term.
By a force field analysis, the paper also identifies important driving and constraining forces for the sector and evaluates their probable degree of effect. The research finishes with a complete overview and estimates of demand growth for the global business aviation industry.
Relevance and utility:
The research provides insights and inputs for strategic planning and decision-making processes:
- For Strategy Planning and Market Analyses
- Determination of the degree of congruence between the Developing Market Landscape and the Strategy’s concentration
- Finding and emphasizing possible strategic change, adjustment, and realignment areas
- Study and Evaluation of Developing Market and Technological Trends and Innovations Likely to Influence Business Aviation in the Future
- A Force Field Analysis of the forces driving and restricting the industry and their overall dynamics.
- Study of Market Development with Prediction of Demand Increase over the Middle Term and Market Prognosis Who: Principal Decision-Makers within the Industrial Value Chain
- The study will be indispensable and a major resource for those involved with or having a strategic interest in the global business aviation market. This report will be very helpful for:
Principal Program Offices and Program Managers
Top Management of Industry OEMs, Industry Value Chain Participants, and Other Businesses
Current and potential investors Military Procurement Executives, Defense Departments, Program Staff Suppliers, Vendors, Technology & Services Providers, and Other Important Participants in the Industrial Value Chain
Industry and Business Analysts
Advice Companies for Mergers and Acquisitions Strategy and Management Consulting Firms
PE Firms, VC Firms, and Finance & Leasing Firms Researchers, and all those linked with the business in general
Important Issues Include:
- Introduction to the Global Business Jet Industry and Market Snapshot
- Segmentation of the Market in Section 2
- Business Aviation – Market Dynamics and Major Drivers, Section 3
- Part – 4: Trends in the Industry
- Part – 5: Market Tendencies
- Section 6: Technological Trends
- Section – 7: Critical Problems, Obstacles, and Risk Factors
- Part – 8: Global Business Jet Market – Force Field Analysis – Study of Driving and Restrictive Factors and Their Overall Dynamics
- Forecasts for the Global Business Jet Market through 2023
- Part – 10: Strategic Market Prognosis and Demand Forecasts for the Global Business Aircraft Market to 2032