US Business Jet Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

The US Business Jet Market is segmented by Body Type ( Large Jet, Light Jet, Mid-Size Jet )

Market Snapshot

https://s3.mordorlabs.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period: 2016 - 2028
https://s3.mordorlabs.com/base%20year/1629296433432_test~base_year_base_year.svg Base Year: 2021
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Body Type: Large Jet
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Body Type: Light Jet
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 2.32 %

MAJOR PLAYERS

Key Players

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Market Overview

The US Business Jet Market stood at 10.94 billion USD in 2022 and is projected to register a CAGR of 2.32% to reach 12.55 billion USD in 2028.

  • Largest Market by Body Type - Large Jet : The increasing number of HNWIs and UHNWIs is driving the demand for large business jets.
  • Fastest-growing Market by Body Type - Light Jet : Regional air travel and the capability to access remote airports/locations are making light jets more attractive to customers, therefore driving their demand in the market.

Scope of the Report

Large Jet, Light Jet, Mid-Size Jet are covered as segments by Body Type.
Body Type
Large Jet
Light Jet
Mid-Size Jet

Report scope can be customized per your requirements. Click here.

Key Market Trends

Large Jet is the largest segment by Body Type.

  • The US business aviation is part of general aviation that contributes around USD 150 billion annually to the US economy. The fleet of the US accounted for 58% of the world's business aviation, and the country holds around 89% of the private jets in the North American region. In 2021, the number of UHNWI individuals surged to approximately 13% in the country and aided in procuring business jets.
  • Out of the business jet deliveries delivered over the historical period from 2016 to 2021, light jets constitute around 49%, when compared to mid-size jets and large jets with 29% and 22%, respectively. 
  • During and after the COVID-19 pandemic, the safer way of traveling has become one of the major criteria for high net-worth individuals in the country, which resulted in the increased utilization of private jets. The same trend is expected to continue over the next few years. In terms of deliveries, in 2021, the US accounted for almost 91% of North America's total business jet deliveries. 
  • In 2021, Textron became the leading player in deliveries with 132 aircraft, while Gulfstream Aerospace was in the second position with 69 deliveries. Cirrus Aircraft, Bombardier, Embraer, Honda Group, and Pilatus Aircraft were the other major players, with 61, 49, 52, 34, and 21 deliveries in the country. Around 3500+ business jets are expected to be delivered in the country during the forecast period.

Competitive Landscape

The US Business Jet Market is fairly consolidated, with the top five companies occupying 92.21%. The major players in this market are Bombardier Inc., Dassault Aviation, Embraer, General Dynamics Corporation and Textron Inc. (sorted alphabetically).

Major Players

  1. Bombardier Inc.

  2. Dassault Aviation

  3. Embraer

  4. General Dynamics Corporation

  5. Textron Inc.

*Disclaimer: Major Players are sorted alphabetically

Market Developments

  • May 2022: Bombardier unveiled the aircraft Global 8000.
  • April 2022: Exclusive Jets LLC and TEXTRON AVIATION have signed a sales contract for up to 30 Cessna Citation CJ3+ aircraft.
  • February 2022: In February 2022, the private-charter owner/operator, Thrive Aviation, announced an order for its first Gulfstream, a Gulfstream G600. The aircraft is expected to be delivered in the summer of 2022.

Table of Contents

  1. 1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. 2. REPORT OFFERS

  3. 3. INTRODUCTION

    1. 3.1 Study Assumptions & Market Definition

    2. 3.2 Scope of the Study​

    3. 3.3 Research Methodology

  4. 4. KEY INDUSTRY TRENDS

    1. 4.1 High-Net-Worth Individual (HNWI)

    2. 4.2 Regulatory Framework

    3. 4.3 Value Chain Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Body Type

      1. 5.1.1 Large Jet

      2. 5.1.2 Light Jet

      3. 5.1.3 Mid-Size Jet

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Key Strategic Moves

    2. 6.2 Market Share Analysis

    3. 6.3 Company Landscape

    4. 6.4 Company Profiles

      1. 6.4.1 Bombardier Inc.

      2. 6.4.2 Cirrus Design Corporation

      3. 6.4.3 Dassault Aviation

      4. 6.4.4 Embraer

      5. 6.4.5 General Dynamics Corporation

      6. 6.4.6 Honda Motor Co., Ltd.

      7. 6.4.7 Pilatus Aircraft Ltd

      8. 6.4.8 Textron Inc.

  7. 7. KEY STRATEGIC QUESTIONS FOR AVIATION CEOS

  8. 8. APPENDIX

    1. 8.1 Global Overview

      1. 8.1.1 Overview

      2. 8.1.2 Porter’s Five Forces Framework

      3. 8.1.3 Global Value Chain Analysis

      4. 8.1.4 Market Dynamics (DROs)

    2. 8.2 Sources & References

    3. 8.3 List of Tables & Figures

    4. 8.4 Primary Insights

    5. 8.5 Data Pack

    6. 8.6 Glossary of Terms

List of Tables & Figures

    Figure 1:  

    US BUSINESS JET MARKET, HIGH-NET-WORTH INDIVIDUAL (HNWI), POPULATION, 2016 – 2028

    Figure 2:  

    US BUSINESS JET MARKET, VOLUME, UNITS, 2016 - 2028

    Figure 3:  

    US BUSINESS JET MARKET, VALUE, USD, 2016 - 2028

    Figure 4:  

    US BUSINESS JET MARKET, BY BODY TYPE, VOLUME, UNITS, 2016 - 2028

    Figure 5:  

    US BUSINESS JET MARKET, BY BODY TYPE, VALUE, USD, 2016 - 2028

    Figure 6:  

    US BUSINESS JET MARKET, BY BODY TYPE, VOLUME, %, 2016 VS 2022 VS 2028

    Figure 7:  

    US BUSINESS JET MARKET, BY BODY TYPE, VALUE, %, 2016 VS 2022 VS 2028

    Figure 8:  

    US BUSINESS JET MARKET, BY LARGE JET, VOLUME, UNITS, 2016 - 2028

    Figure 9:  

    US BUSINESS JET MARKET, BY LARGE JET, VALUE, USD, 2016 - 2028

    Figure 10:  

    US BUSINESS JET MARKET, BY LARGE JET, VALUE, %, 2021 VS 2028

    Figure 11:  

    US BUSINESS JET MARKET, BY LIGHT JET, VOLUME, UNITS, 2016 - 2028

    Figure 12:  

    US BUSINESS JET MARKET, BY LIGHT JET, VALUE, USD, 2016 - 2028

    Figure 13:  

    US BUSINESS JET MARKET, BY LIGHT JET, VALUE, %, 2021 VS 2028

    Figure 14:  

    US BUSINESS JET MARKET, BY MID-SIZE JET, VOLUME, UNITS, 2016 - 2028

    Figure 15:  

    US BUSINESS JET MARKET, BY MID-SIZE JET, VALUE, USD, 2016 - 2028

    Figure 16:  

    US BUSINESS JET MARKET, BY MID-SIZE JET, VALUE, %, 2021 VS 2028

    Figure 17:  

    US BUSINESS JET MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

    Figure 18:  

    US BUSINESS JET MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

    Figure 19:  

    US BUSINESS JET MARKET SHARE(%), BY MAJOR PLAYERS, 2021

Market Definition

  • Aircraft Type - General Aviation includes aircraft used for corporate aviation, business aviation and other aerial works.
  • Body Type - Light Jets, Mid-Size Jets, and Large Jets according to their ability to carry passengers and flying distance ranges have been included under this study.
  • Sub-Aircraft Type - Business Jets which are private jets and are designed to carry small groups of people and are used for various roles are included in this study.

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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms

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Frequently Asked Questions

The US Business Jet Market market is studied from 2016 - 2028.

The US Business Jet Market stood at 10.94 billion USD in 2022 and is projected to register a CAGR of 2.32% to reach 12.55 billion USD in 2028.

The increasing number of HNWIs and UHNWIs is driving the demand for large business jets.

Regional air travel and the capability to access remote airports/locations are making light jets more attractive to customers, therefore driving their demand in the market.

Bombardier Inc.,Dassault Aviation,Embraer,General Dynamics Corporation and Textron Inc.. are the major companies operating in US Business Jet Market.