Le Lézard
Classified in: Tourism and vacations, Transportation, Covid-19 virus
Subject: MRR

Global Very Light Jet Industry Report 2023-2028: Hybrid and Electric Propulsion Taking the $8.2 Billion Market to New Heights

DUBLIN, Sept. 26, 2023 /PRNewswire/ -- The "Very Light Jet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.


The global very light jet market size reached US$ 5.3 Billion in 2022. Looking forward, the market is set to reach US$ 8.2 Billion by 2028, exhibiting a growth rate (CAGR) of 7.45% during 2023-2028.

The very light jets market is undergoing a significant transformation, fueled by technological advancements and changing consumer preferences. Traditionally powered by conventional fuel propulsion systems, the adoption of hybrid and electric propulsion technologies is on the rise. These jets offer numerous benefits such as cost-effectiveness and fuel efficiency, making them increasingly popular in various sectors including commercial, civil, and military aviation.

One of the primary factors driving the market is the shift towards private aviation solutions, influenced by rising disposable incomes and an increasing number of high-net-worth individuals. This trend is further supported by the growth in the travel and tourism industry, leading to a surge in demand for non-scheduled charter flights.

Another contributing factor is the growing popularity of air sports, such as aerial acrobatics, and the rising application of very light jets in military reconnaissance activities. These diverse and expanding applications underscore the market's growth potential.

In summary, the very light jets market is experiencing robust growth due to technological innovations, increasing disposable incomes, and a booming travel industry. The market is also seeing expanded applications ranging from military reconnaissance to air sports, indicating a promising future with diverse opportunities for market players.

Key Questions Answered in This Report

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 

Key Market Segmentation:

Breakup by Aircraft Type:

Breakup by Material:

Breakup by Propulsion:

Breakup by End Use:

Breakup by Region:

For more information about this report visit https://www.researchandmarkets.com/r/lylm5z

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SOURCE Research and Markets

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