Market Trends of Europe Light And Very Light Jets Industry
Light Jet Segment To COntinue Dominating Market Share During the Forecast Period
- The demand for light jets is increasing in Europe from various customers, including corporate companies, charter companies, HNWIs, and governments. As of 2023, the deliveries for the light jet aircraft were higher compared to the very light jets in Europe. This economic strength of European countries supports the acquisition of high-end light aircraft, catering to the consistent demand from both wealthy individuals and businesses seeking the flexibility and convenience offered by light jets.
- The total count of light jet aircraft models like Cessna Citation CJ3+/CJ4, Learjet 75, Pilatus PC-24, and Embraer Phenom 300 was 803 in total in 2022, which made up more than 69% of the sales volume of the market under study. The average price for light jets is more than USD 9 million, which is more than twice the mean price of the very light jets, thereby helping the segment dominate the market in terms of revenues.
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Germany toDominate Market Share During the Forecast Period
- Germany is one of the major economies in Europe, providing a strong financial foundation for businesses to invest in private aviation, including light and very light jets. Germany has a robust aviation and aerospace industry, with manufacturers that contribute to the production of high-quality and technologically advanced jets.
- Moreover, the country's wealthy population, along with a flourishing business sector, generates demand for private aviation. Light and very light jets cater to the need for convenient and flexible travel, especially for business executives. Germany's central location makes it a strategic hub for business travel; this geographic advantage drives the demand for private jets, facilitating quick and efficient travel across Europe. In 2022, Textron had a 47% share of the German market, led by the Citation 525, 525A and 560XL aircraft families. There were 103 Bombardier jets with German operators, which comprised products from the Learjet, Challenger, and Global families.
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