- A + | Share :

Global Business Jet Market 2012-2016: Major Driver is the Increase in Business Jet Order Backlogs

10/29/2013 | By Research & Market from PR NewsWire Press Release

The analysts forecast the Global Business Jet market to grow at a CAGR of 9.40 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increased number of billionaires across the world. The Global Business Jet market has also been witnessing an increased demand for business aircrafts from emerging economies. However, the increased direct operating cost could pose a challenge to the growth of this market.

The key vendors dominating this market space include Bombardier Inc., Cessna Aircraft Co., Dassault Aviation S.A., and Gulfstream Aerospace Corp.

The other vendors mentioned in this report are Airbus SAS, Embraer S.A, Hawker Beechcraft Corp., and The Boeing Co.

Commenting on the report, an analyst from the Automotive team said: The steady economic growth in emerging economies has had a positive impact on rising demand for business jets in these countries. Continuous economic growth in emerging economies has improved the financial status of the people in these countries, leading to an increase in their per capita income and disposable income. In addition, the increasing corporate profitability in developing countries is expected to propel the demand for business jets. Moreover, the growing contribution of emerging economies in the global GDP is also propelling the demand for business jets. For instance, in 2012, emerging economies accounted for 28 percent of the global GDP. By 2030, the emerging economies are expected to account for 40 percent of the global GDP. Thus, the increasing demand from the emerging economies is a trend that is expected to have a positive influence on the growth of the market.

According to the report, one of the major drivers in this market is the increasing number of billionaires worldwide. A majority of the business jets are purchased and owned by billionaires, thereby propelling the growth of the market. Also, the increasing order backlogs are expected to benefit vendors and OEMs, which augurs well for the growth of the market during the forecast period.

Register With AviationWorldNews : Free e-newsletters

Related articles
Follow Us