A business jet is much different from a private jet with specific business objectives. Under private jet category, the jet companies offer aesthetic appeal with a little extravagance while a business jet company would come up with added features such as boardroom for meeting during travel, conference rooms as well as having a strong flying potential to lead with elegance.
Commercial business for business jets have become much lucrative, as there is always a great chance for customization and maintenance. For instance, the frequent use of charter aircrafts results in wear and tear to become a major issue in the end. To tackle this situation high maintenance along with some customized features are enabled to give a push on wear and tear of the jet planes.
the market is driven by rise in income and business turnovers. Frequent flyers are primary audience for business jet market. In addition, use of advanced technology used for manufacture is likely to contribute to the aircraft
Light jet, mid-size jet and heavy jet account as aircraft types whereas fractional ownerships, charter companies, private ownerships and corporate use account as operators in the business jet market. Mid-size jets have a substantial demand in the near future whereas charter companies and private ownerships have a remarkable client service for prominent business communities.
North America and Europe have a dominant position in the business jet market holding more than one-third of manufacturing and sale of business jets in these regions. Rise in number of air travellers, frequent flyers and attractive offers have summed up for the market developments in United States. Moreover, the demand for charter planes being high in the elite class also propels the market for business jets.
Asia-Pacific and MEA regions account for a considerable market share as the region houses a large number of business communities having worldwide presence. Convenience is a prime factor that adds to the demand for business jets. Subsequently, small and mid-size aircraft types are in huge demand in the near future.
Key players such as Gulfstream Aerospace Corporation, Cessna Aircraft Company, Embraer S.A. and Dassault Aviation account for major share in the global market.