Business Jet Market Expands With Strong Forecast to $156.99 Billion by 2032
Delray Beach, FL, Aug. 20, 2025 (GLOBE NEWSWIRE) -- The report "Business Jet Market by Point of Sale (Pre-owned, OEM, Aftermarket), Aircraft Type (Light, Mid-Sized, Large, Airliner), End-Use (Private Jet User, Operator), Systems (Aerostructures, Avionics, Aircraft Systems), Range - Global Forecast to 2032" The business jet market size is projected to grow from an estimated USD 95.80 billion in 2024 to USD 156.99 billion by 2032, at a CAGR of 6.4% during the forecast period.
The volume of new business jet is expected to be 793 in 2032 from 662 in 2024. The volume of used private jet retail transactions is expected to increase from 2,578 in 2024 to 3,289 in 2032. The increasing need for enhanced productivity and efficiency by business jet users, increased advancements in hybrid & electric technologies, and increasing number of high-net-worth individuals are driving the growth of the business jet industry.
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Major Key Players in the Business Jet Industry:
- Bombardier Inc. (Canada),
- Boeing (US),
- Dassault Aviation (France),
- Honda Aircraft Company (US),
- Airbus (Netherlands),
- General Dynamics Corporation (US),
- Piaggio Aero Industries (Italy),
- Eclipse Aerospace, Inc. (US) and
- Piper Aircraft (US)
Business Jet Market Segmentation:
By Aircraft Type, the light aircraft segment is projected to have the second highest CAGR during the forecast period.
Light aircraft is expected to have the second highest CAGR in the business jet market which is largely attributed to the lower acquisition and operating cost. The light private jets are ideally used for short regional flights due to their balance between cost and convenience. Few examples of light aircrafts are Cirrus Aircraft SF50, Embraer Phenom 300, Bombardier Learjet 70/75 liberty among others. The growing interest in hybrid & electric aircraft will further increase the demand for light business jets most of the aircraft have a seating capacity less than 4 passengers.
By point of sale, the OEM segment is projected to have the second highest CAGR during the forecast period.
OEM segment is expected to have the second highest CAGR during the forecast period which is largely attributed to the high demand for customization, need for latest technology and comprehensive warranties. Business jet manufacturers have been new models with latest avionics, design and state-of-art technology to attract the HNWIs, corporations and governments. Launch of newer models by the manufacturers such as Falcon 10X by Dassault aviation expected to be in service by 2025, Bombardier Global 8000 is expected to be service in 2025 and Gulfstream G800 expected to be in service in 2024 are also boosting the growth of OEM market segment.
By range, the less than 3000 Nm segment is projected to grow at the highest CAGR during the forecast period.
The less than 3000Nm segment is expected to have at the highest CAGR during the forecast period which is largely attributed to high fuel efficiency and ideal for short regional flights. Growth of Less than 3000 Nm segment is driven by both new and used private jets due to its low purchase cost and flexible short-range capability. Few examples of models with range less than 3000 Nm are Embraer Phenom 300E, Embraer Legacy 450, Gulfstream G280, HA-420 HondaJet among others.
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Business Jet Market Regional Analysis:
By region, North America to account for the largest share in 2024
North America is expected to hold the largest share of the business jet market in 2024. This can be primarily attributed to major business jet providers in the region. North America is a well-developed market with a strong growth potential for pre-owned, new, and aftermarket services. High demand for fractional ownership and charter services further contributes to market growth. North America has a robust ecosystem that supports business jet operations. This includes maintenance repair and overhaul facilities as well as a network of airports and FBOs that cater to business aviation needs, ensuring reliable and high-quality services for operators and owners.
Latin America holds the second highest growth rate in the region segment for the business jet market.
Latin America holds the second highest growth rate for the business jet market. The growth in this region is attributed due to increased adoption of private aviation solutions. Increasing corporate activities in countries like Brazil, Argentina, Colombia and Mexico is driving the Latin American market. Improvements in aviation infrastructure including airport expansions and development of new MRO facilities are also boosting the business jet industry growth.
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Recent Developments
- In January 2025, Gulfstream Aerospace Corp. (US) has announced the delivery of two additional Gulfstream G700 aircraft to the Qatar Executive fleet. The two new aircraft delivered will use a blend of sustainable aviation fuel (SAF), which will increase the total number of G700 aircraft in the Qatar Executive fleet to six with an additional four scheduled.
- In October 2024, Ryan Samples has entered into a purchase agreement with the Textron Inc. (US) to take delivery of the first CJ4 Gen3, which is expected to enter service in 2026.
- In June 2024, Pilatus (Switzerland) and Synhelion (Switzerland) entered a partnership focused on advancing solar fuel technology for the aviation sector to expedite the adoption of solar-derived fuels. Pilatus plans to integrate Synhelion’s innovative solar fuels into its operations and make them available to its customers.
- In July 2024, Boeing (US) announced a definitive agreement to acquire Spirit AeroSystems (US). This acquisition will include Boeing’s commercial operations and expand its footprint in other commercial, defense, and aftermarket operations.
- In May 2024, Vertical Aerospace (Germany) secures $50 million in new funding as part of a $180 million transaction from Mudrick Capital Management (US), bolstering its financial position and driving progress on its Flightpath 2030 Strategy.
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