Dallas, TX -- (SBWIRE) -- 11/04/2014 -- According to the new market research report "Business Jet Market by Aircraft Type (Light Jet, Mid-size Jet, Large Jet), by Geography (North America, Asia-Pacific, Europe, the Middle East, Latin America, and Africa) - Global Forecasts, Trends & Analysis to 2014 - 2020" The global business jet market was valued at $20.9 billion in 2013 and is expected to reach $33.8 billion by the end of 2020, to grow at a CAGR of 6.86%.

Browse 93 market data tables and 59 figures spread through 129 pages and in-depth TOC on “Business Jet Market by Aircraft Type (Light Jet, Mid-size Jet, Large Jet), by Geography (North America, Asia-Pacific, Europe, the Middle East, Latin America, and Africa) - Global Forecasts, Trends & Analysis to 2014 - 2020”

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This report provides a market analysis of the business jet market for the next five years. It provides an overview of the drivers, challenges, and restraints that impact the industry. It also discusses the industry, market, and technology trends that currently prevail in the business jet market.It tracks, analyzes, and lays out the market size of the major spenders in each region and analyses the types of business jet aircraft such as light jets, mid-sized jets, and large jets.It provides information of the leading competitors in the business jet market.

It also provides details on their financial positions, key products, their unique selling points, and key developments.This research report segments the market on the basis of aircraft type, region, country, forecasting revenues, market share, and analyzing trends in each of the sub-sectors.

The business jet market can qualitatively be segmented into two major categories-branded charters (which also include air taxis) and fractional ownership. The air charter market has shown significant growth since its inception, which was about five decades back. There were about 3,650 worldwide charter and air taxi fleet in 2013. The primary demand for chartered flights is due to consistent demand from North America and Europe, which constitutes 70% of the total demand. In the recent past, the strongest fleet growth in the charter market has been observed from APAC, Latin America, and Africa.

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The growth of the business jet market is triggered by the rising corporate profits, potential economic growth in emerging countries, increased number of high net worth individuals, due to the rising demand for the replacement of old aircraft. However, stringent government policies and regulation in developing nations and a prolonged process for product certification by the aviation authorities, restrains the growth of the business jet market.

North America (comprising the U.S. and Canada) accounted for the largest share-52%-of the global business jet market in 2013. The already established infrastructural capacity and the highest number of older aircraft in the world are expected to be the cause of increased demand for new aircraft, thereby driving growth in the North American region.

The air charter market has displayed significant growth since its inception, which was about five decades back. There were about 3,650 worldwide charter and air taxi fleet in 2013. The primary demand for chartered flights is due to consistent demand from North America and Europe, which constitutes 70% of the total demand. In the recent past, the strongest fleet growth in the charter market has been observed from APAC, Latin America, and Africa.

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The new fractional aircraft share sales remained steady compared to the previous year.Moreover, the usage of fractional fleet and the number of aircraft deliveries has increased, indicating a substantial, but constant recovery in the market. In the coming years, there will be a demand for fleet replacement from the existing fractional operators, while the demand for new aircraft is expected to come mainly from the markets wherein fractional aircraft is being introduced. Hence, APAC, Latin America, and Africa constitute the key potential regions that are expected to deliver high growth in this market. NetJets has announced plans to open a new division in China, to serve the fast-growing Chinese business jet market.

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