Key vendors to focus on the expansion of their global footprint
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global business jet market in their latest research report. This report also lists five other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have considered the revenue generated by the sales of business jet aircraft which include light business jet, mid-size business jet, and large business jet.
This Technavio report, under the aerospace and defense vertical, is based on the synthesis, analysis, and interpretation of information about the global business jet market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global market for business jets is highly competitive in nature. Vendors in the market space compete based on the product quality, reliability, cost, and aftermarket service. It is crucial for the vendors to provide high-quality, cost-effective, and innovative cabins with latest technology and materials in order to survive in the market. Factors such as the global economic recovery, the growth of the commercial sector, and R&D investments have given room for opportunities for vendors to compete and grow. Vendors also focus on key areas such as in-house manufacturing capabilities, global footprint network, product offerings, newer technologies, R&D investments, and a strong client base in attempt to strengthen their foothold in the competitive market.
“The emergence of 3D printing coupled with the increasing use of composite materials is revolutionizing the global business jet market. 3D printing, also called additive manufacturing, is an evolving technology that helps manufacturers to design and create components layer by layer. The use of 3D printing technology allows manufacturers to reduce the overall size of the components as well as bring about cost efficiency just-in-time (JIT) aerospace and defense.
Top five vendors in the business jet market space
Airbus
Airbus is a European company that that engages in the design, development, and manufacture of commercial aircraft, corporate jets, and helicopters. The company’s provides aircrafts of various sizes to customers across the globe. The Airbus Corporate jets provide various business jets such as ACJneo, ACJ318, ACJ 319 (ACJ319 Elegance, ACJ319 Elite), ACJ320, ACJ340, ACJ350 XWB, ACJ 380 ACJ321, and ACJ330. The company also provides VIP cabin outfitting and VIP services including MRO facilities, cabin refurbishment, and system upgradation.
Key products: ACJ318 and ACJ330.
Boeing
Boeing is a manufacturer of commercial, space, and defense products. The company offers a wide range of business jet series and commercial aircraft series. The company also provides customized cabin per customer’s request. It also developed the Split Scimitar Winglet technology for its business jets. Incorporation of this technology enhances the aerodynamic performance and reduces the fuel consumption. Boeing Business Jet expects to deliver one BBJ2 by the end of 2016 and another in 2017.
Key products: BBJ MAX 7 and BBJ MAX 9.
Bombardier
Bombardier is one of the world’s leading aerospace and transportation companies. The company engages in the design, manufacture, and marketing of aviation products and rail equipment and systems. Bombardiers’ product portfolio includes commercial aircraft, mainline jets, and passenger railcars. The company operates through two business units: aerospace and transportation. The aerospace segment manufactures aviation products such as business aircraft, commercial aircraft, and amphibious aircraft as well as offers specialized aircraft solutions.
Key products: Global 7000 and Global 6000.
Embraer
Embraer is an aircraft manufacturing company that designs, manufactures, and sells military, executive, commercial, and agricultural aircraft. The company’s key business segments include commercial aviation, executive aviation, defense and security, and others. The commercial aviation segment’s 70-130 seat platform aircraft account for more than half of the revenue generated by the company. The defense and security segment has been serving the federal government of Brazil and other countries since its inception. The executive segment provides executive jets to various charter service companies and other individuals. The company’s leasing businesses and subcontracting services fall under the others segment.
Key products: Legacy 450 and Legacy 500.
Gulfstream Aerospace
Gulfstream Aerospace is a subsidiary of General Dynamics. The company is involved in the design and manufacture of technically advanced aircraft and other support products. It has produced more than 2,100 aircraft since its inception and has various service centers across the globe. The company also offers various special mission aircraft to governments and military. Gulfstream Aerospace has about 13,500 product professionals positioned in various service stations worldwide.
Key products: G650 and G150.
Other prominent vendors in this market include Dassault Aviation, Beechcraft, Diamond Aircraft, Eclipse Aerospace, and Honda Aircraft.
A more detailed analysis is available in the Technavio report, Global Business Jet Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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