Albany, NY -- (SBWIRE) -- 07/23/2014 -- The global recession has hit the business jet market hard. It is predicted that the manufacturing of new business jets is not likely to reach to pre-recession levels for almost another ten years. Deliveries of new business jets which stood at approximately 1300 in 2008 halved to about 600 in 2012. In 2013 the sector shipped 678 business jets, which are six jets more than 2012. There has been a growth in the bigger, longer-range business jets while the small and medium jet segment continues to face challenges.
In the Asian region, the players are focused on China and India. Given the economic strengths and the rising demand from these countries, the business jets sector is betting highly on their potential. The demand in China is driven by corporations and the rising number of billionaires, who aspire for the convenience offered by business jets. India outnumbers both China and Japan when it comes to private jets.
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The report Assessment of the Global Business Jets Market 2014 highlights key drivers of and trends emerging in India and Chinas business jet market. The Initiatives and performance of key players including Bombardier, Gulfstream has been presented. The current market scenario and future prospects of the sector has also been examined. The report contains latest industry leaders verbatim.
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