Global Business Jet Market 2012-2016: Major Driver is the Increase in Business Jet Order Backlogs
DUBLIN, October 29, 2013 /PRNewswire/ –
Research and Markets (
http://www.researchandmarkets.com/research/xqz5vx/global_business) has announced the
addition of the “Global Business Jet Market 2012-2016″
[http://www.researchandmarkets.com/research/xqz5vx/global_business ] report to their
The analysts forecast the Global Business Jet market to grow at a CAGR of 9.40 percent
over the period 2012-2016. One of the key factors contributing to this market growth is
the increased number of billionaires across the world. The Global Business Jet market has
also been witnessing an increased demand for business aircrafts from emerging economies.
However, the increased direct operating cost could pose a challenge to the growth of this
The key vendors dominating this market space include Bombardier Inc., Cessna Aircraft
Co., Dassault Aviation S.A., and Gulfstream Aerospace Corp.
The other vendors mentioned in this report are Airbus SAS, Embraer S.A, Hawker
Beechcraft Corp., and The Boeing Co.
Commenting on the report, an analyst from the Automotive team said: The steady
economic growth in emerging economies has had a positive impact on rising demand for
business jets in these countries. Continuous economic growth in emerging economies has
improved the financial status of the people in these countries, leading to an increase in
their per capita income and disposable income. In addition, the increasing corporate
profitability in developing countries is expected to propel the demand for business jets.
Moreover, the growing contribution of emerging economies in the global GDP is also
propelling the demand for business jets. For instance, in 2012, emerging economies
accounted for 28 percent of the global GDP. By 2030, the emerging economies are expected
to account for 40 percent of the global GDP. Thus, the increasing demand from the emerging
economies is a trend that is expected to have a positive influence on the growth of the
According to the report, one of the major drivers in this market is the increasing
number of billionaires worldwide. A majority of the business jets
[http://www.researchandmarkets.com/research/xqz5vx/global_business ] are purchased and
owned by billionaires, thereby propelling the growth of the market. Also, the increasing
order backlogs are expected to benefit vendors and OEMs, which augurs well for the growth
of the market during the forecast period.
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SOURCE Research and Markets