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The global business jets market is driven by the rising number of high net worth individuals, upcoming new aircraft programs, and the growing fleet size. North America is expected to hold the largest market share in the business jets market due to the increasing demand from business travellers to opt for the fastest mode of transport for the conservation of time. The Asia Pacific is a rapidly growing market due to the huge potential the region offers. Emerging economies such as China and India extend several untapped and unexplored opportunities to the business jets market players.
Curtiss-Wright Corporation (NYSE: CW) and Honeywell International Inc. (NYSE: HON) are some of the key players in the business jets industry. In February 2020, the two aviation players, Curtiss-Wright Corporation and Honeywell International Inc., partnered owing to increasing airline accident investigations, to develop an innovative way for airlines to analyse and monitor flight data. The companies will use real-time connectivity to reinvent the Flight Data Recorder and Cockpit Voice Recorder, usually called “black boxes,” for enhancing the cargo transport, commercial airline, and business jet markets.
Market Analysis by Aircraft Type, End Use, Systems, Services, Platform, and Region:
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APG-Neuros, Safran S.A., Curtiss-Wright Corporation, Esterline Technologies Corporation, Honeywell International Inc., Meggitt PLC, United Technologies Corporation, Eaton Corporation Inc, and Ametek, Inc., among others, are the key players in the global business jets market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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