Global Business Jets Market to Value USD 34 Billion by Late 2020, Forecasts Smart Research Insights in Its New Report Available at MarketPublishers.co12 May 2016 • by Natalie Aster
LONDON – As of 2013, a value of the global market for business jets was just under USD 21 billion. The marketplace has been showing sustainable growth since then and it is expected to be worth approximately USD 34 billion by late 2020.
Currently, this market experiences turbulence caused by economic difficulties taking place in China, Brazil and Europe.
The world’s demand for new business jets is forecast to be around 9,100 by 2025. The small and medium jets segment will be a key demand driver in the upcoming years.
Region-wise, North America is set to be a leader over the next ten years, and Europe and Africa will be other prominent players in this space.
With business aviation industry expected to demonstrate tremendous growth in the near term in India, this country will be ranked third in the list of largest aviation markets by 2020.
Future of the Middle Eastern marketplace also seems to be bright since the region’s GDP is forecast to grow by approximately 3.8 percent over the next several decades. Saudi Arabia can boast the largest fleet of business jets in this region, with Turkey and the UAE lagging behind.
New research report “Study of the Global Business Jets Market 2016” prepared by Smart Research Insights offers an up-close look at the global business jets marketplace. The study provides an insightful overview of the global market. It contains current statistics and limelights performance of this marketplace.
The report concentrates on regional markets: it comprises their detailed overviews, delves deep into drivers and trends and discusses industry challenges. The research study also covers selected countries and canvasses the competitive landscape.
Top players like Boeing, Embraer, Honeywell International, etc. are profiled in the research report. Future prospects of the market are investigated in the study, too.
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