This market research study presents a comprehensive analysis of the global supersonic business jet market by the key areas such as the Americas, APAC, and EMEA. The leading vendors identified in this market are Aerion, HyperMach, Lockheed Martin, Spike Aerospace, and Tsentralniy Aerogidrodinamicheskiy Institut.
Technavio’s market research analysts estimate the global supersonic business jet market to grow at a CAGR of around 4% between 2016 and 2020. One of the critical factors driving the growth of this market is the increasing number of joint ventures and alliances among major vendors. increasing demand from passengers, profitability on the route, and technological improvements are also expected to promote joint ventures and M&As which will, in turn, bolster the growth prospects of this market. For example, Lockheed Martin and NASA have collaborated on a supersonic jet design, with two engines under the wing in a conventional configuration and one additional centerline engine above the wing. The Americas occupy around 75% of the total market share, owing to augmented demand for new and advanced fleet such as supersonic business jets and increasing joint ventures and M&As.
The new market research report from Technavio provides a breakdown and analysis of the supersonic business jet segments by technology.
“One of the key trends gaining traction in this market is the increasing need for short travel time. Aerion’s newly developed supersonic jet has almost twice the speed of fastest commercial aircraft. For instance, flight from London to New York would take around three and half hours, as compared to commercial jets which typically take about eight hours. With business travelers, corporate executives, and entrepreneurs increasingly opting for faster flights, this market is envisaged to have a positive outlook until the end of 2020,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research
At present, the supersonic manufacturers are using lightweight composites and aerodynamics for supersonic jets. They are using thin fuselages, rear-mounted engines, and study nozzles to reduce the noise levels. They are also implementing low-drag wing design, which will allow supersonic jets to fly at a subsonic speed over land and at a speed of Mach 1.6 over the sea. Polymers like polyphenylene sulfide (PPS), polyetherimide (PEI), and polyetheretherketone (PEEK) are used in airframe structures for achieving critical properties and high-temperature applications such as military, aero engines, and supersonic business jet programs. They also reduce aerofrictional heating and are profitable for manufacturers.
The key players in the global supersonic business jet market include Aerion, HyperMach, Lockheed Martin, Spike Aerospace, and Tsentralniy Aerogidrodinamicheskiy Institut. This market is characterized by the presence of well-established international, small, and medium-sized vendors. The competition is expected to intensify with product extensions, technological innovations, and increasing the number of contracts and mergers and acquisitions.
A more detailed analysis is available in the Technavio report, Global Supersonic Business Jet Market 2016-2020.
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