Global Business Jet Market Research Report | Aerospace

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Business Jets Market Strategic Initiatives by
Leading Manufacturers By Sukanya
Mukherjee Business or private jets were first
introduced in the 1930s when light passenger
planes were used to transport businessmen and
politicians. But the sector significantly
transitioned in the 1970s when companies decided
to develop jets specifically for business travel.
Presently, numerous manufacturers are competing
with faster, more luxurious jets in the market.
Driven by these advancements and several others,
Inkwood Research predicts that the global
business jets market is set to propel with a 3.9
CAGR during the forecast period, 2023-2032. This
blog discusses the top 3 manufacturers of
business jets globally and some of their key
strategic initiatives.

• Strategies Adopted by Top Manufacturers
• AIRBUS SE
• Airbus SE was founded in 1970, with headquarters
  in Leiden, Netherlands. Recently theyve
  simplified their organizational structure and
  entered several contracts. TwoTwenty large jets
  based on their A220- 100 business class can go
  over 10,000 kilometers.

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• In February 2023, Tata Group-led Air India signed
  mega agreements with Airbus SE to supply about
  250 new planes. By the second half of 2023, Air
  India is expected to receive 40 widebody A350s
  and 210 single-aisle A320neos worth over 50
  billion. As per Christian Scherer, Chief
  Commercial Officer and Head of International of
  Airbus SE, The A350s unique capability will
  unlock the pent-up potential of Indias long-haul
  market. Its technology, long reach and
  second-to-none comfort will enable better
  economics and enhanced sustainability. Alongside
  the A350s, the A320 Family fleets will be the
  efficient, versatile asset to continue
  democratizing and decarbonizing air travel in the
  country - from domestic, regional, up to
  international levels. (Source)
• The A350 is an efficient wide-body aircraft in
  the 300-410 seat category. This aircraft features
  advanced technologies and aerodynamics,
  facilitating better fuel efficiency, lower
  operating costs, and reduced carbon dioxide
  emissions compared to its predecessor. Further,
  Airbus says the A350 boasts a 25 advantage over
  its competitors.
• BOEING
• Boeing is one of the most renowned aerospace
  companies in the world. Founded in 1916, they
  have been manufacturing telecommunication
  systems, rockets and planes ever since. According
  to Boeing, over 70 of government customers
  worldwide chose a Boeing Business Jet (BBJ) for
  its head-of-state business jet. Boeing Business
  Jets won the prestigious 2020 Design et al. Yacht
  Aviation design award competition for building
  business jets for the Dutch government and was
  placed first among multiple competitors in the
  Interior Design/VIP Completions category.
• In February 2023, Boeing and Air India agreed on
  a deal involving 220 airplanes (10 777Xs, 20 787
  Dreamliners and 190 737 MAXs) and 50 additional
  737 MAX options and 20 787-9s. Stan Deal,
  president and CEO of Boeing Commercial Airplanes,
  commented, Air Indias selection of Boeings
  family of passenger jets shows their confidence
  in our products and services in the worlds
  fastest- growing aviation market With the
  industry-leading fuel efficiency of the 737 MAX,
  787 Dreamliner and 777X, Air India is well
  positioned to achieve its expansion plans and
  become a world-class global airline with an
  Indian heart. (Source)
• BOMBARDIER
• Bombardier was founded in 1942 with headquarters
  in Montreal and specialized in public
  transportation services. In December 2022, it
  secured a contract worth 267 million for 10
  Challenger 350 aircraft - their largest deal of
  2020 - and two Challenger jets (105 million) to
  replace aging planes of the Canadian Armed
  Forces. Also, Bombardier exceeded its 2021
  targets on all guided metrics, with revenues
  surpassing 6.9 billion - a 14 increase
  year-over-year, mainly due to higher deliveries
  of aftermarket services which tallied 1.5
  billion for 2022 alone. (Source)
• Furthermore, Bombardier expects to boost business
  jet deliveries by at least 15 by the end of 2023
  as strong demand for private flying drives the
  companys resurgence. In 2023, the company plans
  to deliver more than 138 jets and target revenue
  of over 7.6 billion, a more than 10 increase
  over 2022. In speaking on a full-year earnings
  call, Chief executive Eric Martel said, As we
  see the market stabilizing, we are not going to
  over tweak our rates. We will stick to the plan
  and ensure our production is de- risked. (Source)

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• All in All
• The business aviation industry is home to various
  manufacturers, each with unique strengths and
  offerings. When evaluating potential business jet
  manufacturers, it is crucial to consider safety,
  reliability, performance, and value factors. By
  partnering with a reputable and innovative
  business jet manufacturer, businesses enjoy the
  benefits of private air travel, including
  enhanced productivity, convenience, and
  flexibility. As the market evolves and new
  technologies emerge, staying updated on the
  latest global business jets market trends and
  advancements is crucial.
• Frequently Asked Questions (FAQs)
• What are some of the latest trends in the global
  business jets market?
• A Digitization of the business aviation sector
  and the increasing popularity of membership
  programs, on-demand chartering, and fractional
  ownership are some of the latest trends in the
  global business jets market.
• What are the key growth restraining factors of
  the global business jets market?
• A Negative impacts of trade wars, lack of
  infrastructure, and concerns about MRO labor
  capacity in aviation are the key growth
  restraining factors of the global business jets
  market.