Dublin, May 16, 2024 (Globe Newswire) – The Global Business Aircraft Rental Market – Forecasts from 2024 to 2029 ” Researchandmarkets.com offering.
It is projected that Global Business Jet Rental Market will grow at an annual compound rate of 17.50% during the forecast period to reach US $ 21660.04 million by 2029, of US $ 7005,679 million in 2022.
It is anticipated that technological advances in the aviation sector and the products of the interior cabin make this growth probable and successful. As business aircraft rents are being used for more than one activity to meet the different needs of people, people are gradually stopping their advantages. These jets provide comfort, optimal performance, convenience, ease of travel and shorter fleet, and therefore, add greatly to their greatest demand.
As the trip on the airline becomes remarkably stressful, exhausting and takes a long time due to an escalation in the number of customers every day, a large number of customers begin to favor business airplanes to travel due to their benefits. This improved demand is expected to impact favorably on the business aircraft rental market.
In addition, the advantages offered by the rental of business aircraft, such as fewer people, lack of crowds and tails, high levels of hygiene, direct flights and fly according to the schedule of one, contribute to market growth. The introduction of new aircraft programs is anticipated, together with a growing number of high -value network, it will boost market growth.
The North American market is expected to represent remarkable participation in terms of income and anticipate that its domain will continue during the market throughout the forecast period. The presence of the main players and the widespread adoption of private aircraft rentals among end users, particularly in the United States, are factors that boost market growth in this region.
In addition, the great national investment and customer spending are also among the factors that increase the expansion of this market in North America. The Regional Business Aviation Network, including producers, suppliers, dedicated airports and fixed -based operators (FBO), has observed a rapid expansion, which makes it one of the most attractive regions for business aviation worldwide. In addition, the availability of airports throughout the region facilitates business trips easily. As North America is the largest region per area, business travelers must opt for faster transport mode to save time. This is even more in the growing demand for business airplanes.
Increased demand for aviation in developing economies:
The increase in the income available together with the advances in aviation infrastructure is promoting the growth of the global business aircraft rental market. India government data indicate significant developments in the aviation sector in 2023, with the inauguration of 60 new regional routes and the adjudication of 54 new RCS RCS under UDAN.
In addition, more than 91 Passengers Lakh benefited from the installation of Digi Yatra. These statistics underline the rapid expansion of the aviation industry, thus contributing to the general increase in demand for the business aircraft rental market.
Market restriction:
Lack of adequate infrastructure:
A considerable challenge for the business aircraft rental market is the lack of infrastructure in several nations. Developing economies such as Nigeria, India, China and Malaysia have the potential market for business aircraft rentals, but the infrastructure of these countries makes the commercial aircraft rental market grow.
There are several cities that are not well connected in terms of ease of travel. Certain areas lack airports and airfields; Others lack a convenient landing space; And even others are inaccessible from the boundaries of the city.
Key attributes:
| Report attribute | Details |
| No. of pages | 124 |
| Forecast period | 2022 – 2029 |
| Estimated market value (USD) in 2022 | $ 7005.68 million |
| Planned market value (USD) for 2029 | $ 21660.04 million |
| Compound annual growth rate | 17.5% |
| Covered regions | Global |
Companies presented
- Netjets
- Wheels up
- View
- XO GLOBAL LLC
- Magellan Jets
- With deck
- Jetsuite
- Victor
- Globeair
- Oxygen aviation
Market segmentation:
By type
By final use
By geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- South Africa
- Israel
- Others
- Pacific Asia
- Porcelain
- Japan
- India
- South Korea
- Indonesia
- Taiwan
- Thailand
- Others
For more information about this report, visit https://www.researchandmarkets.com/r/ge9ai6
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Global Business Aircraft Rental Market
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