North America Business Jet Market Trends

Statistics for the 2023 & 2024 North America Business Jet market trends, created by Mordor Intelligence™ Industry Reports. North America Business Jet trend report includes a market forecast to 2030 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of north america business jet Industry

Rise in the HNWI population is acting as the major growth driver for the market

  • Individuals with liquid financial assets over USD 1 million are termed as HNWIs, and those with a net worth of at least USD 30 million are termed as UHNWIs. Due to the rising equity markets and government stimulus, in 2022, the region overtook Europe and Asia-Pacific to lead the total HNWI population. North America’s HNWI wealth grew by almost 4% in 2022 compared to 2021. The leading position of North America in terms of the number and assets of HNWIs is mostly attributed to the United States. North America recorded the most significant rise in the ultrawealthy population, which recorded 49% of the global HNWI population in 2022.
  • HNWIs often own private jets for personal or business travel. Although North America accounts for almost 70% of private jets globally, it lags in terms of private jets present as a percentage of its super-rich population compared to Latin America and Africa. As of December 2022, there were around 16,524 registered private aircraft in North America, of which the United States accounted for almost 91%, followed by Mexico and Canada, with 6% and 3%, respectively.
  • Sustainable investing (SI) is attracting more attention and providing businesses with a high-potential engagement opportunity. In the ultra-HNWI segment, SI is rapidly gaining traction. For instance, about 40% of ultra-HNWIs are willing to invest money in sustainability, compared to 27% of HNWIs who expressed interest in SI products. Furthermore, in 2021 and 2022, there was an increase in the demand for aircraft ownership in the United States, driven by health considerations during the pandemic and a surge in global wealth in the financial markets. This trend is strengthened with capital raising and Initial Public Offering (IPO) activities and boosted by supportive public market valuations.
North America Business Jet Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

North America Business Jet Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030