The latest report by IMARC Group, titled "Very Light Jet Market Report by Aircraft Type (Ultra-Light Aircraft, Light Aircraft), Material (Aluminum, Composites, and Others), Propulsion (Electric and Hybrid, Conventional Fuel), End Use (Civil and Commercial, Military), and Region 2024-2032," finds that the global very light jet market size reached US$ 5.7 Billion in 2023. A very light jet, also known as an entry-level jet or personal jet, can sustain up to 5,900 kilograms of take-off weight with a seating capacity of fewer than ten passengers. It is operated through conventional fuel, hybrid, or electric propulsion systems. It is cost-effective, fuel-efficient, and shortens the flying duration as it is twice as fast on most routes as compared to conventional planes. Owing to these properties, very light jets are extensively utilized in compact aviation solutions for business travels, training activities, military operations, passenger transportation solutions, and survey and research activities in the commercial, civil, and military sectors.
Global Very Light Jet Market Trends:
The market is primarily driven by the growing inclination toward private aviation solutions. This can be attributed to the inflating disposable income levels and the increasing number of high net worth (HNW) individuals. In addition, the rising popularity of air sports, including aerial acrobatics, represents another major growth-inducing factor. Besides this, with the expanding travel and tourism industry, there has been an escalating demand for non-scheduled charter flights. This, coupled with the rising product adoption in reconnaissance procedures on the front lines of the military, is positively influencing the market growth. Moreover, extensive research and development (R&D) activities conducted by major market players and continual advancements in aircraft technologies are also creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market to reach a value of US$ 10.1 Billion by 20232, exhibiting a CAGR of 6.6% during 2024-2032.
Market Summary:
Report Scope:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Segment Coverage |
Aircraft Type, Material, Propulsion, End Use, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
Bombardier Inc., Cirrus Design Corporation (Aviation Industry Corporation of China), Diamond Aircraft Industries (Wanfeng Aviation Industry Co. Ltd.), Embraer S.A., Honda Aircraft Company (Honda Motor Company), Nextant Aerospace, Pilatus Aircraft Ltd, Stratos Aircraft Inc. and Textron Aviation Inc. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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