Europe Business Jet Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Europe Business Jet Market is Segmented by Aircraft Type (Light Jet, Mid-size Jet, and Large Jet) and Country.

Market Snapshot

Europe Business Jet Market Overview
Study Period: 2018 - 2026
Base Year: 2020
CAGR: >2 %

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Market Overview

The Europe business jet market is expected to register a CAGR of over 2% during the forecast period.

  • Europe has the second-largest business jet fleet in the world, with over 4,100 aircraft with various customers in the region by the end of 2019. The region accounted for 116 business jet shipments in 2019, which is about 14.3% of the global business jet shipments, the second-highest in the world.
  • However, the share of the business jet shipments of Europe continued to dip for the third year in a row in 2019, as business jet operators are facing issues due to the slow economic growth of the region and the uncertain effects of Brexit, which is hampering the growth of new jet purchases.
  • In addition, the advent of the COVID-19 pandemic badly affected the revenues of business jets operators. According to the European Business Aviation Association, several business jet operators were adversely impacted by rigid interpretation of travel restrictions by national authorities, which may further force them to either cancel or postpone their purchase plans.

Scope of the Report

A business jet is designed to transport small groups of people. Business jets are generally owned by certain individuals, corporates, VIPs, sportsperson, government officials, and charter service providers. A business jet may also be modified for performing other roles, such as emergency medical services, cargo delivery, or equipment resupply. The scope of the study encompasses both the procurement of new business jets in Europe and the associated MRO services required by such aircraft to ensure airworthiness. Helicopters used in business aviation are excluded from the scope of the study.

Aircraft Type
Light Jet
Mid-size Jet
Large Jet
Geography
Europe
United Kingdom
France
Germany
Switzerland
Italy
Rest of Europe

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Key Market Trends

Fractional Ownership Projected to Witness a Surge in Europe

The concept of fractional aircraft ownership is an alternative to full ownership of business jets. It includes several users acquiring the share of the property in the aircraft in exchange for the aircraft's shared usage. Under a fractional ownership program, the owner is expected to have access to an aircraft, as and when required, or access to any other aircraft within the provider’s fleet, especially, when additional capacity would be required. In Europe, Jetfly, Air Partner, NetJets Europe, and VistaJet are some of the prominent charter providers that offer fractional ownership. Several prominent business jet charter providers in Europe are viewing fractional ownership as an option to reduce costs. For instance, Jet Aviation is the primary operator of the VistaJet fleet in Europe, under the fractional ownership program of VistaJet. In the current economic scenario, where huge losses are incurred by the business jet operators due to the international ban, post the COVID-19 pandemic, the concept of fractional ownership is expected to increase in Europe, as aircraft operators may find it viable to fractionally own an aircraft instead of spending huge amounts for complete ownership.

Europe Business Jet Market_trends1

Large Jet Segment Held the Largest Market Share in 2019

The large jet segment held the largest revenue share in the market in 2019. The demand for large jets continues to be the highest in Europe, accounting for more than 60% of the market revenues in 2019. Among the 116 business jets that were delivered to Europe in 2019, 43 business jets were large jets. Although the sales volumes of the large jets are similar to that of the light jets in Europe, the higher unit prices of the jets are the primary reason for the larger share of the segment. Large jets of the business jet manufacturers, like Gulfstream, Bombardier, Dassault, Airbus, and Boeing, are witnessing a growth in demand in Europe. The growth in the demand for transatlantic flights, mainly between the United States and several countries in Europe, resulted in several business jet operators placing orders for large, long-range jets. For instance, in September 2019, Luxaviation, a charter provider based in Europe, announced the addition of two large jets, a Bombardier Global Express XRS, and a Global 5000 to its aircraft fleet. The company added nine such jets in the first nine months of 2019. Such developments are anticipated to drive the business jet segment of the market during the forecast period.

Europe Business Jet Market_Segmentation

Competitive Landscape

Bombardier Inc., Textron Inc., Gulfstream Aerospace Corporation, Dassault Aviation, and Embraer SA are some of the major players in the market, currently. Customers in the region prefer aircraft that have advanced amenities and enhanced comfort during long-distance travel, and this will be a market opportunity for the aircraft OEMs to introduce newer models with advanced facilities. Aircraft models, like the Bombardier Global 7500, Gulfstream G500, and G600, which were introduced recently, gained plenty of speculation among the customers due to their advanced features and the amenities they offer. This resulted in players investing in the development of new business jets to attract customers. For instance, in February 2020, Gulfstream Aerospace Corp. announced that its new Gulfstream G700, the largest and the most spacious jet ever designed by the company, made its first flight. The company plans to deliver the first aircraft by 2022. Such a focus on the development of new aircraft that feature spacious and technologically advanced cabin interiors, higher range, and increased safety and comfort of the passengers during travel is expected to help in the growth of the market players during the forecast period.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Aircraft Type

      1. 5.1.1 Light Jet

      2. 5.1.2 Mid-size Jet

      3. 5.1.3 Large Jet

    2. 5.2 Geography

      1. 5.2.1 Europe

        1. 5.2.1.1 United Kingdom

        2. 5.2.1.2 France

        3. 5.2.1.3 Germany

        4. 5.2.1.4 Switzerland

        5. 5.2.1.5 Italy

        6. 5.2.1.6 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Airbus SE

      2. 6.1.2 Textron Inc.

      3. 6.1.3 Embraer SA

      4. 6.1.4 The Boeing Company

      5. 6.1.5 Bombardier Inc.

      6. 6.1.6 Gulfstream Aerospace Corporation

      7. 6.1.7 Dassault Aviation SA

      8. 6.1.8 Honda Aircraft Company

      9. 6.1.9 DC Aviation GmbH

      10. 6.1.10 Lufthansa Technik

      11. 6.1.11 Comlux

      12. 6.1.12 Rolls-Royce Holding PLC

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Europe Business Jet Market market is studied from 2018 - 2026.

The Europe Business Jet Market is growing at a CAGR of >2% over the next 5 years.

Bombardier Inc., Textron Inc., Gulfstream Aerospace Corporation, Dassault Aviation, Embraer S.A. are the major companies operating in Europe Business Jet Market.

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