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Business Jet Market Size, Share & COVID-19 Impact Analysis, By Business Jet Type (Very Light Jet, Light, Super-Light, Mid-size, Super-Mid-Size, Large, Super Large, Ultra Long Range), By Platform (On-Demand Service, Aircraft Management Services), By System (Propulsion System, Aerostructures, Avionics), By End Use (Private and Operators), By Point of Sale (OEM and Aftermarket), and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI101585



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The global business jet market size was valued at USD 27.54 billion in 2019 and is projected to reach USD 35.56 billion by 2027, exhibiting a CAGR of 5.37% during the forecast period (2020-2027).

According to a key market player named Embraer SA, it is estimated that there would be around 6,400 new private jet deliveries in the next 20 years. North America would have the highest deliveries of jets of around 2020 in the upcoming years. It is also estimated that the demand for 70-130 seat capacity business aircraft would grow significantly in the next two decades. Scope for hybrid-electric propulsion systems and eVTOL aircraft would present new opportunities for the business jet market growth.

However, the COVID-19 pandemic has changed the dynamics of the market for the upcoming years as demand for air travel has plummeted since the coronavirus outbreak. To overcome this pandemic companies are focusing on factors such as

  • The governments of countries across the globe may think of redesigning the supply chain management by considering the aspect of pandemic into account.

  • Companies are looking forward to streamlining their operational processes and focusing on inventory management to overcome the impact of the coronavirus on their businesses.

  • Companies would have to design new safety norms to maintain social distancing even after COVID has subsided.

  • Companies should implement the Just-In-Time concept to procure and deliver these jets to the end-users.


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Development of Innovative Cabin Interiors to Boost the Market

A cabin interior system comprises multiple subsystems such as cabin seating, lighting, galley, lavatory, and windshields. Rising demand for in-flight connectivity in the cabin interior is anticipated to boost the private jets market growth. Moreover, key companies such as Zodiac Aerospace, Panasonic Avionics, and Honeywell Corporation are actively involved in designing and developing cost-effective and lightweight cabin interior systems.

Besides, the modernization of conventional business aviation with technologically advanced cabin interior components and systems is expected to propel the growth of the market.


SurgingDemand for All-Electric Business Aircraft and Eco-Air Jets to Aid Growth

According to the International Civil Aviation Organization (ICAO), the growth for all-electric aircraft, remains steady with a growth rate between 2% and 5%. However, in a decade, this growth rate is expected to reach 24%. Thus, companies across geographies are looking forward to investing in research and development capabilities to design and develop more electric aircraft in the next few years.

According to the US-based electric jet startup Ampaire Inc., Is actively involved in designing and developing electric jet solutions. Moreover, this can lead to a reduction in maintenance costs by 50%. Furthermore, it improves takeoff & landing efficiency by 66%, with no fuel emission from the tailpipe of aircraft. These operational benefits and cost-effective solutions can propel the adoption of eco-friendly propulsion aircraft systems.

Aging Fleet Size to Propel the Growth of the Market

According to a research study, the average age of business jets across the globe in 2019 was 17.6 years. In case of the type of these jets, heavy jets have had a large number of maintenance, repair, and overhaul (MRO) operations in the past few years. These aircraft can be replaced by next-generation business type jets in the coming years. Moreover, private firms and Original Equipment Manufacturers (OEMs) are focusing on developing technologically advanced small jets for on-demand service applications.


Uncertainty of Orders Restrains  the Growth of the Market                                                                  

In May 2020, the Canadian business jet manufacturer Bombardier announced the shutdown of its manufacturing facilities due to loss of production caused by the COVID-19 pandemic. The company was planning to layoff around 2,500 jobs owing to the impact of COVID-19. However, its recent contract with the Canadian government of USD 105 million has minimized the risk, and the OEM is looking forward to continuing with the manufacturing of business aircraft in upcoming years.

Moreover, the disruption in the supply chain has largely impacted the sales and the production activities worldwide. The companies are looking forward to incorporate the cost-effective e-platform to overcome the impact of pandemic in the coming years.

Moreover, the unscheduled orders from end-users, such as private players and OEMs, have hampered the growth of the market.


By Business Jet Type Analysis

Ultra-High Range Business Jet Type to Grow at a Fast Pace

On the basis of type, the ultra-long-range jet segment is expected to display the fastest growth rate during the forecast period owing to rising  demand for long-range jets in the U.S. The small jets segment held a dominant share of the market in 2019 on account of their comparatively lower costs and high demand from the on-demand service providers.

By Platform Analysis

On-Demand Service Segment Dominated the Market in 2019

Based on platform, the market is segmented into on-demand service, aircraft management services, and leasing service. The on-demand service segment accounted for the largest market share in 2019. This was owing to a large number of business jet service providers in developed countries. The aircraft management service segment is anticipated to project a significant CAGR during the forecast period owing to the increasing number of outsourcing of management services by the end-users.

By System Analysis

Propulsion System Segment to Register a High CAGR

In terms of system, the market is segmented into propulsion systems, aero-structures, avionics, and others. The propulsion systems segment held a dominant share in the market in 2019 and is also expected to be the fastest-growing segment during the forecast period.This is due to the surging  investments by major players in hybrid-electric propulsion systems and development of electric aircraft fleet.

By End Use Analysis

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Rising  Demand for Private Jet Owners in  Developed Countries to Boost the Growth of Private Segment

In terms of end-use, the market is segmented into operators and private. The operator ssegment held a dominant share in 2019. The dominance is owing  to the increasing demand for service-based operators in countries such as the U.S., China, and Singapore. The private segment is expected to grow at a significant CAGR during the forecast period due to rising  demand for up-gradation of conventional aircraft with next-generation aircraft. 

By Point of Sale Analysis

Rising  Demand for Private Jet Owners in  Developed Countries to Boost the Growth of Private Segment

In terms of point of sale, the market is segmented into OEMs and aftermarket. The OEMS segment held a dominant share in 2019. The dominance is owing to the increasing demand for new advanced business jets for on demand service in countries such as the U.S., the UAE and China. The aftermarket segment is expected to grow at a significant CAGR during the forecast period due to rising  demand for up-gradation of existing aircraft. 


North America Business Jet Market Size, 2016-2027 (USD Billion)

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The market size in North America stood at USD 9.75 billion in 2019. The dominance of this region is attributable to the presence of major players in the market, the rising demand for electric aircraft, and demand for on-demand service for these jets in the U.S. This, along with the presence of favorable government policies and required infrastructure facilities in the U.S. and Canada, is responsible for the dominance of North America in the business jet market share.

The market in Europe is expected to grow at a significant CAGR owing to the rising awareness regarding advanced technology-based private executive aircraft and leasing facilities. The market in the Asia Pacific is expected to grow healthily owing to the increasing development of smart cities and investment infrastructure by countries such as China, India, and Singapore. The smart cities incorporate helipads/helidecks in large number to minimize the issues related to transportation due to densely populated areas. Latin America accounted for a larger share due to the presence of Embraer SA in Brazil.


Established Players and Start Ups to Advance the Global Market

The key market players are involved in designing and developing business jets with the incorporation of advanced technological systems. Companies are looking forward to developing technologically advanced hybrid engines and establish strong partnerships with the companies in developed and emerging economies.

These companies are adopting strategies such as next-generation all-electric business aircraft and geographic expansion to establish their strong presence in the market.


  • Airbus SE (Leiden, the Netherlands)

  • The Boeing Company (Illinois, the U.S.)

  • Bombardier, Inc. (Montreal, Canada)

  • Embraer SA (State of São Paulo, Brazil)

  • Textron Inc. (Rhode Island, the U.S.)

  • GulfstreamAerospace (Georgia, the U.S.)

  • Dassault Aviation (Paris, France)

  • Cennas Aircraft Company (Kansas‎, the U.S.)

  • Hondajet (North Carolina, the U.S.)

  • Eviation Aircraft (Israel)

  • Joby Aviation (California, the U.S.)

  • Zunum Aero  (Washington, the U.S)

  • Other Players


  • June 2020 – Bombardier, Inc. signed  a contract with the Canadian Armed Forces of value USD 105 million. Under  this contract, the company will provide two challenger jets for the forces.

  • October 2019 -Embraer SA signed an agreement worth USD 1.4 billion with Flexjet. The company will providethe Phenom 300 light and Praetor mid-sized and super-midsize business jets.


The business jet market research report provides a detailed industry analysis. It focuses on key aspects such as leading companies, aircraft types, and leading applications of executive jets.

An Infographic Representation of Business Jet Market

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Besides this, the report offers insights into the market trends and highlights key industry developments. Moreover, the report encompasses various key factors that have contributed to the growth of the market over recent years.

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Report Scope & Segmentation



Study Period


Base Year


Forecast Period


Historical Period



  Value (USD Billion)

By Segmentation

By Business Jet Type

  • Very Light Jet

  • Light Jet

  • Super-Light Jet

  • Mid-size Jet

  • Super-Mid-size Jet

  • LargeJet

  • Super Large Jet

  • Ultra Long RangeJet

  • Converted Airliners

By Platform

  • On-Demand Service Platform

    • Air-Taxis

    • Charter Service

    • Jet Card/Membership Program

    • Fractional ownership

  • Aircraft Management Services

  • Leasing Service

    • Wet Lease

    • Dry Lease

By System

  • Propulsion System

  • Aerostructures

  • Avionics

  • Others (Cabin Interiors, Doors, Windows, and Windshields)

By End Use

  • Operators

  • Private

By Point of Sale

  • OEM

    • Conventional

    • Hybrid and Electric

  • Aftermarket

    • MRO

    • Parts Replacement

By Geography

  • North America (the U.S. and Canada)

  • Europe (the U.K., Germany, France, Spain, Switzerland, and Rest of Europe)

  • Asia-Pacific (China, India,  Japan, Australia, Singapore, and Rest of Asia- Pacific)

  • The Middle East and Africa (The UAE, South Africa, Saudi Arabia, Qatar, and Rest of the Middle East and Africa)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

Frequently Asked Questions

Fortune Business Insights says that the global business jet market size was USD 27.54 billion in 2019 and is projected to reach USD 35.56 billion by 2027.

In 2019, the North America market value stood at USD 9.75 billion.

Growing at a CAGR of 5.37%, the market will exhibit steady growth in the forecast period (2020-2027).

The propulsion segmentis expected to be the leading segment in this market during the forecast period.

Surging demand for all-electric business aircraft and eco-air jets and the aging fleet size are the major factors driving the growth of the market.

Bombardier, Inc., Embraer SA, Textron Inc., Gulfstream, and Dassault Aviation are major players in the global market.

North America dominated the market share in 2019.

The key companies are adopting expansion strategies by establishing strong partnerships with other companies and governments. Moreover, companies are also involved in designing and developing next-generation hybrid engine-based jets for various commercial applications.

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Business Jet Market Size, Share and Global Industry Trend Forecast till 2026
  • Jul, 2020
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