The Global Business Jet Industry Outlook released this week by data intelligence firm Beroe projects deliveries of 8,750 business jets over the next 10 years, with the number increasing at an average compound annual growth rate (CAGR) of 6 percent. The overall business jet market is expected to reach $37.5 billion annually by 2030, expanding at a CAGR of 7.3 percent, according to the report.
North America is expected to account for the lion’s share of the forecasted business jet deliveries, with 5,250 aircraft worth $150 billion, followed by Europe and Asia-Pacific each with 1,575 aircraft worth approximately $54 billion. The remainder would be delivered to the Latin America, Middle East, and Africa regions, which along with Asia-Pacific are growing markets, Beroe said.
“Major drivers of business jet market growth are new geographical models, technological advancements, and trade globalization,” Beroe said. “Rapid technological advancements in avionics, addition of new models, entry of new players in the business aircraft market, and growing economies are the major factors supporting the business jet market's growth.”
