Thu, Nov 02, 2017
New Analysis Forecasts Nearly Six Percent Growth Through 2021
The "Global Light Business Jet Market 2017-2021" report from Research and Markets forecasts the global light business jet market to grow at a Compound Annual Growth Rate (CAGR) of 5.68% during the period 2017-2021.
Global Light Business Jet Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is adoption of 3D printing. The aerospace industry is rapidly growing, and aircraft OEMs are looking for ways to meet the increasing demand of the market. They are pioneering innovations and are adopting new and innovative methods to increase their production rate. One such innovation is 3D printing.
According to the report, one driver in the market is preference toward leasing an aircraft over conventional procurement. As most chartered airlines operate in low-profit-margins (merged profits), it becomes challenging for them to pay substantial amounts of cash for the purchase of fleets or new-generation business jets. Also, maintaining a robust fleet structure is imperative for airline operators to maximize their offerings and customer reach. With the evolving dynamics of aircraft leasing businesses, chartered airlines can now access a comfortable option for adding new aircraft to their fleets through leasing arrangements from aircraft financing entities.
Further, the report states that one challenge in the market is planetary financial support for R&D. The success of the business aviation industry depends on R&D investments, along with technological and business innovations. Although the financial support for aeronautics R&D is mainly provided by governments to achieve important national goals, some funds are provided by business jet suppliers and OEMs. However, compared with other sectors of the global aviation industry, the focus on the R&D for the global business jet sector has decreased.
(Source: Research & Markets news release)
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