London, 20 March 2015 – The Global Business Jet Market is expected to grow at a CAGR of 6.80 percent from 2015-2019, according to a new report from research firm Technavio.
The growth in the market is supported by an increase in demand for business jets from the Americas, as well as the EMEA and APAC regions. The US, which was one of the biggest markets for business jets is also witnessing a recovery in the market.
“Aircraft backlogs and expected short-term deliveries are indicators of demand that are currently being observed in the market,” says Faisal Ghaus, Vice President of Technavio.
The new report draws attention towards a growing market for on-demand air travel. On-demand business jets provide cost-effective solutions for travelers who do not wish to own and operate a private jet.
The fleet of business jets for on-demand air travel has grown significantly since 2009. The US and Europe account for the majority of the global charter and air taxi fleet and remain the largest markets for on-demand air travel.
“Emerging countries in Asia, Africa and South America are also witnessing healthy growth in business jet fleets, which is expected to propel the overall market growth in the coming years,” says Ghaus.
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