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DUBLIN, Oct. 7, 2022 /PRNewswire/ — The “Business Jets Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
The global business jets market is expected to grow from $19.96 billion in 2021 to $21.02 billion in 2022 at a compound annual growth rate (CAGR) of 5.31%. The business jets market is expected to grow to $26.38 billion in 2026 at a compound annual growth rate (CAGR) of 5.85%.
The business jets market consists of sales of business jets by entities (organizations, sole traders, and partnerships) that refer to a jet aircraft that are used to transport small groups of people, also known as a private jet. Some governmental bodies, government personnel , and military services use business jets for other purposes like the evacuation of casualties or quick parcel deliveries.
The main types of aircraft in business jets market are light, mid-sized, large business jets and airliner business jets. The light business jets, sometimes known as a personal jet or a microjet, which is a category of the tiny business airplane that accommodates 4-8 passengers. A light jet may fly long distances at high speeds while consuming little fuel. The systems used in business jets includes propulsion system, aerostructures, avionics and others. Business jets are mostly sold by OEM or aftermarket and are used by private users or operators.
North America was the largest region in the business jets market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the business jets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing demand for business jets for various application is driving the growth of the business jets …
Full story available on Benzinga.com
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