Market Size of us business jet Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 15.37 Billion |
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Market Size (2030) | USD 16.47 Billion |
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Largest Share by Body Type | Large Jet |
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CAGR (2024 - 2030) | 1.15 % |
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Fastest Growing by Body Type | Mid-Size Jet |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
US Business Jet Market Analysis
The US Business Jet Market size is estimated at 15.37 billion USD in 2024, and is expected to reach 16.47 billion USD by 2030, growing at a CAGR of 1.15% during the forecast period (2024-2030).
15.4 B
Market Size in 2024 (USD)
16.5 B
Market Size in 2030 (USD)
3270
Total Deliveries in the Historic Period (2017-2023)
3546
Total Deliveries during the Forecast Period (2024-2030)
Largest Market by Body Type
79.43 %
value share, Large Jet, 2023
The increasing number of high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) is driving the demand for large business jets.
Fastest-growing Market by Body Type
1.56 %
Projected CAGR, Mid-Size Jet, 2024-2030
Regional air travel and the capability to access remote airports/locations are making mid-size jets more attractive to customers, driving the demand for the market.
Leading Market Player
38.85 %
market share, General Dynamics Corporation, 2022
The company's strongest and most advanced fleet of different types of business jets is prompting customers to procure more jets from it, enabling the company to gain a high market share.
Second Leading Market Player
24.17 %
market share, Bombardier Inc., 2022
The company's focus on new product development in the business jets segment enables it to be one of the leading players.
Third Leading Market Player
14.23 %
market share, Textron Inc., 2022
Cessna Aircraft, which is a part of Textron Aviation, offers various types of technologically advanced business jets, thereby resulting in a majority of the market share.
The increase in business travel flight hours after COVID-19 generated a high demand for business jets
- The US business aviation market is part of general aviation and contributes around USD 150 billion to the US economy annually. The US fleet accounted for 67% of the world's business jets, and the country holds around 14,710 registered business jets, the largest fleet size in the region. In 2022, the number of UHNWIs surged by 52% in the country and aided in the increased procurement of business jets. Out of the business jets delivered from 2017 to 2022, light jets constituted around 44%, compared to large and mid-size jets, with 41% and 15%, respectively.
- During the COVID-19 pandemic, a safer way of traveling became 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 2022, the United States accounted for almost 96% of North America's total business jet deliveries.
- Various aircraft have been delivered to cater to the needs of high-net-worth individuals and business executives. In 2022, Textron became the leading player in terms of deliveries, with 129 aircraft, while Gulfstream Aerospace held the second position with 90 aircraft deliveries. Cirrus Aircraft, Embraer, and Bombardier were the other major players, with 79, 68, and 57 aircraft deliveries in the country, respectively. In October 2019, Chairman Aviation, a US-based fractional and private aviation membership company, ordered a new Cessna Citation CJ3+, its second Citation jet purchase in 2019. The order marks the third Textron Aviation aircraft addition to its fleet. Such factors are expected to drive business jet deliveries to rise by 4,027 between 2023 and 2030.
Understand The Key Trends Shaping This Market
