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Subject: MRR

Global Business Jet Market Analysis 2023-2032 - Strong Long-Term Fundamentals for Business Aviation amid Persistent Near-Term Challenges

DUBLIN, Dec. 1, 2023 /PRNewswire/ -- The "Global Business Jet Market - 2023-2032 - Market Dynamics, Competitive Landscape, OEMs' Strategies & Plans, Trends & Growth Opportunities and Market Outlook - Gulfstream, Bombardier, Dassault, Embraer, Textron" report has been added to  ResearchAndMarkets.com's offering.

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Global Business Jet Market Slightly Cooling-Off in 2023 amid Strong Market Indicators

The Global Business Jet Market in 2023 is in the slight cooling-off phase, after the surge in demand and utilization activity witnessed during 2022, with the deliveries of business jets staying at 712 units for 2022, almost the same as 710 for 2021, however, with most key market indicators staying clearly above the pre-pandemic levels, as recorded in 2019. The industry OEMs continue to maintain significant order backlogs and register strong aftermarket activity which is likely to provide steady propulsion & revenue stability over near term to tackle the build-up of uncertainty in market sentiment and prevailing macroeconomic turbulence. The pre-owned jets inventory continues to increase in 2023, as compared to 2022 level; however, it still remains well below the pre-pandemic levels. Fleet utilization levels for business jets, too, have reduced slightly across North America and Europe in 2023 amid slowing down of overall macroeconomic growth in response to the unprecedented monetary policy tightening underway. The fleet utilization levels, however, have surged across the Asia-Pacific region so far in 2023

Strong Long-Term Fundamentals for Business Aviation amid Persistent Near-Term Challenges

The long term view for business aviation remains upbeat and growth-bound with strong market fundamentals, underscored by economic growth & wealth creation, combined with the unbeatable promise of safety, convenience, efficiency and privacy. However, near-term challenges continue to persist; in form of, a complex, uncertain & challenging macroeconomic environment marked by high inflation, rising interest rates and sustained geopolitical instability with the Russia-Ukraine war showing no signs of abating and the U.S.-China strategic rivalry further escalating; which may impact order intake over near term. Monetary policy tightening is underway across most parts of the world as the Fed & central banks globally persisting in their attempts to rein in inflation while fears & spectre of another looming economic recession over near term are almost back to haunt everyone

Transition to Sustainability being the Topmost, Long-Term Priority for Business Aviation:

Sustainability challenges remain the top near to long-term priority for business aviation while facing a strong activist campaigning & public backlash over emissions with the industry required to go green and become absolutely carbon-neutral by 2050 by transitioning to sustainable power sources, with transition to SAFs, being the topmost on the list of solutions pathways. Bombardier's release of environmental product declaration on its latest Global 7500 and Challenger 3500 business jets, outlining the quantified environmental impact of its jets through various phases of their lifecycle, is a testimony to the perceived seriousness of the sustainability challenges being faced by the business aviation industry. Further, the active pursuit of research by the industry seeking radical aerodynamic improvements for reducing Carbon emissions, rapidly scaling up SAF production and active transitioning towards electrification & hybrid propulsion are the harbingers & building blocks for the creation of a new, sustainability-oriented & environmentally-attuned business aviation industry & eco-system going forward

Against this backdrop, the report provides comprehensive insights & strategic analysis into the Global Business Jet market with focus on a blend of quantitative & qualitative analysis.

Key Topics Covered:

Part 1: Market Size, Segmentation & Competitive Landscape

Part 2: Analysis on Key Industry OEMs

Part 3: Market & Technology Trends, Emerging Demand Scenario and Strategic Market Outlook through 2032

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

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