Business Jet Market Poised for Significant Growth, Jetnet iQ Predicts

The global business jet market is poised for a notable recovery and expansion over the next decade, as per a recent forecast by Jetnet iQ, a foremost authority on market intelligence in the business aviation domain. Unveiled at the 2023 JETNET iQ Summit in New York, the forecast suggests that around 8,700 new business jets, equating to a whopping $268 billion, will be delivered from 2023 to 2032.

This optimistic projection factors in macroeconomic trends, industry dynamics, insights from customer polls, and anticipated plans from manufacturers. As outlined by Jetnet iQ, the upswing in demand for business jets stems from the quest for safer, more efficient, and adaptable travel options. This surge is particularly noticeable in burgeoning markets like China, India, and Brazil. Additionally, innovative technologies, encompassing electric/hybrid propulsion, supersonic capabilities, and urban air mobility, are touted as potential game-changers, presenting both novel prospects and challenges.

In terms of aircraft size differentiation, light jets are forecasted to lead in volume, comprising 22% of the total deliveries. Conversely, by monetary value, the market will be majorly governed by ultralong-range and large-cabin jets, constituting 46% of the entire value. Turboprops, too, are predicted to hold their ground, with an anticipated 4,265 deliveries, equating to $16 billion, over the decade.

Jetnet iQ stands out with its syndicated research reports, influential summits, and advisory capacities, catering explicitly to the business aviation community. Powered by the industry’s most extensive survey database, it boasts over 23,000 responses from 140+ countries and territories globally.

Sources: AirGuide Business airguide.info, bing.com, skiesmag.com, flyingmag.com, jetnet.com