Next decade will see a global demand of 9,100 business jets valued at USD 259 billion
In the first six months of 2016, global business jets shipment fell by 4.3% to reach 292 as compared w ith 3025 jets in the same period in 2015. Overall 2016 is expected to be a year of slow growth for the business jets industry caused largely by decreasing demand from emerging countries due to economic difficulties in Europe, China, and Brazil coupled with falling prices. It forecasted that the next decade will see a global demand of 9,100 business jets valued at USD 259 billion. This is the total market value of the sector and is projected to grow at 3% CAGR annually over the next decade. Over the last decade, a total of 8,190 business jets were delivered, amounting to USD 198 billion. Globally, the United States continues to be the strongest market for business jets and is expected to remain so for the coming decade. The US market has been resilient despite the oil price plunge. At present India has over 250 business jets, of which 130 are private aircraft, owned by ...