Business Aircraft Market Size,Share,Analysis,Growth,Trend-2023
The advent of globalization and rapid industrialization are inducing the need for frequent inter-
continental travels for development of various organizations on global level. Business aircraft is a
jet that is designed for transporting small group of individuals such as government officials, public
bodies, armed forces and others. Market Research Future (MRFR) has published a report stating
that the global business aircraft market is marked to expand at a noteworthy CAGR of 7% during
the forecast period of 2018-2023.
Market Drivers and Restraints:
Recent improvements in aviation industry aided by rapid technological advancement and
increasing popularity of long-range aircraft are some of the major factors that are propelling the
growth of the global business aircraft market. Increasing emphasis on maintaining company's
brand image by large-scale organizations and increasing utilization of business aircraft for
evacuation purposes and express parcel delivers are also fueling the growth of the global
business aircraft market. However, financial slowdown and global economic uncertainty are likely
to restrain the growth of the global business aircraft market during the forecast period.
The global business aircraft market has been segmented on the basis of aircraft type, service and
application. Based on type, the global business aircraft market has been segmented into fixed
wing and rotary wing. The fixed wing segment has been sub-segmented into light jets, mid-size
jets and heavy jets. Based on service, fractional ownership, charter and jet card programs. Based
on application, the global business aircraft market has been segmented into tourism, VIP
transportation and others.
Access Report @ https://www.marketresearchfuture.com/reports/business-aircraft-market-3952
Geographically, the global business aircraft market has been segmented into five major regions
such as North