Albany, NY -- (SBWIRE) -- 01/04/2016 -- The global business jets demand which was nearly halved during the financial crisis has now improved and large players are launching new models in the wake of increasing demand from Middle East, Asia and North America. The global business jets market was worth USD 20.9 billion in 2013 and is projected to grow at a CAGR of 6.86% to USD 33.8 billion by the end of 2020.

The demand in China is driven by corporations and the rising number of billionaires, who aspire for the convenience offered by business jets. The business jet fleet in China grew at an average annual rate of 27%, which almost matched the 26% annual growth in number of Chinese citizens categorized as wealthy during the period 2007-2012. However, recently the market has hit a rough patch due to slow growth of the Chinese economy and the government's anti-corruption austerity campaign. At the close of 2014, the business jets market in China grew by 15.5% year-on-year and deliveries are currently lagging almost two years behind orders.

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The report 'A Study of China's Business Jets Market 2015'highlights key drivers of and trends emerging in China's business jet market. The Initiatives and performance of key players including Bombardier, Gulfstream, Cessna Aircraft, Honeywell International Inc., Embraer S.A., Dassault Aviation and Boeinghas been presented. The current market scenario and future prospects of the sector has also been examined. The report contains latest industry leader's opinions.

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Research methodology and delivery time:

Research team has conducted in depth secondary research to arrive at key insights. Data collected from key public industry sources and publications has been scanned and analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.

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