Light and Very Light Jets Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Light and Very Light Jets Market is segmented by Aircraft Type (Very Light Jet, Light Jet), and Geography.

Market Snapshot

Light and Very Light Jets Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Middle East and Africa
Largest Market: North America
CAGR: >1.5 %

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Market Overview

The light and very light jets market is projected to register a CAGR of more than 1.5% during the forecast period.

  • The growing number of HNW individuals and rising disposable incomes are expected to increase the number of people opting for private jet travel.
  • A rise in travel and tourism has been increasing the requirement for non-scheduled charter flights, and thus, driving the market for light business jets.

Scope of the Report

The report includes the following aspects:

Aircraft Type
Very Light Jet
Light Jet
North America
United States
United Kingdom
Rest of Europe
Rest of Asia-Pacific
Latin America
Rest of Latin America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Rest of Middle-East and Africa

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Key Market Trends

Light Jet Segment Recorded the Highest Share in 2019

As of 2019, the market share for light jet aircraft was more compared to the very light jet segment. The deliveries for the light jet aircraft were higher compared to the very light jets in 2019. The deliveries of some prominent aircraft models in this segment, like Cessna CitationJet 3+/4, Learjet 70, Embraer Phenom 300, Pilatus PC-24, and TBM 910/930, were collectively around 200 and generated a revenue of more than USD 1.6 billion in 2018. In addition, the low price for light jets is more than USD 9 million, which is also about 2.5 times the mean price of the very light jets. All these factors are responsible for the high share of the segment in the year studied.

Light and Very Light Jets Market_Aircraft Type

North America was the Largest Market for Light and Very Light Jets in 2019

North America accounted for a significant market share in 2019. North America is one of the premium markets for light jet operations. The region has one of the largest numbers of light and very light jet shipments by geography, due to the high demand for corporate travel from the United States and Canada. The number of people performing intercontinental business travel is high in the United States, who mostly prefer these light and very light jets. However, the market is beginning to saturate slowly in North America, and gradually the demand from regions, like the Middle East & Africa, which had the least market share, has been increasing. The main reason for the growth of the region is the demand from the Middle East, where the number of HNWI (High Net Worth Individuals) has grown over the years. Countries in this region are also focusing on the travel and tourism sector, which is expected to increase the private jet charter in the region in the upcoming years. Thus, the region is expected to show a high rate of growth in the coming years. 

Light and Very Light Jets Market_Geography

Competitive Landscape

Embraer SA, Honda Aircraft Company, Cirrus Design Corporation, Textron Inc., and PILATUS AIRCRAFT LTD are some of the major players in the market. The market comprises only a few players developing the light and very light jets in the industry. New players, like Stratos Aircraft, are about to enter the market with new aircraft models, like Strats 714 and 716X. In this market, efficiency, comfort, and reliability are the main aspects that the customers would seek, before purchasing the jets. Hence, the players are working in this regard to develop new aircraft with upgraded features. For instance, Daher presented the TBM 940, the next iteration of high-speed single-engine turboprop aircraft of the famous light business jet line TBM 900. The new aircraft is worth USD 4.13 million and is equipped with an automatic thrust system and an improved automatic anti-icing system. The design of the cabin is also changed in the new model. New aircraft models like these are expected to change the landscape of the market in the years to come.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - 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


    1. 5.1 Aircraft Type

      1. 5.1.1 Very Light Jet

      2. 5.1.2 Light Jet

    2. 5.2 Geography

      1. 5.2.1 North America

        1. United States

        2. Canada

      2. 5.2.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. China

        2. Japan

        3. Australia

        4. Rest of Asia-Pacific

      4. 5.2.4 Latin America

        1. Mexico

        2. Brazil

        3. Rest of Latin America

      5. 5.2.5 Middle-East and Africa

        1. United Arab Emirates

        2. Saudi Arabia

        3. Qatar

        4. Rest of Middle-East and Africa


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Textron Inc.

      2. 6.2.2 Embraer SA

      3. 6.2.3 Honda Aircraft Company

      4. 6.2.4 Cirrus Design Corporation



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Frequently Asked Questions

The Light And Very Light Jets Market market is studied from 2018 - 2026.

The Light And Very Light Jets Market is growing at a CAGR of >1.5% over the next 5 years.

Middle East and Africa is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Embraer SA, Honda Aircraft Company, Cirrus Design Corporation, Textron Inc., PILATUS AIRCRAFT LTD are the major companies operating in Light And Very Light Jets Market.

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