surfaced as an effective alternative to branded charters. It offers greater degree of anonymity and high flexibility in
operations with enhanced liability protection planning. The business jets market can be segmented on the basis of
aircraft into light, mid-size and large jets. The light-size jet segment is anticipated to gain traction since such
commercial jets are economically feasible for new entrants to invest in the industry. However, these jets have low
passenger carrying capacity and limited space. Large-size jets segment is anticipated to experience a slight dip in their
growth rate owing to high costs.
High initial set-up costs and operational expenses are anticipated to challenge the business jets market growth. Rise
in political tensions and sluggish economic growth in European countries have raised complicated macroeconomic
conditions that have adversely affected the business jets market driving down the opportunities for industry
expansion. International Air Transport Association (IATA) assists manufacturers and operators across the globe in
making practical environmental policies to stimulate eco-efficient air transport to promote and create sustainable
environment. Stringent regulations restrict operation of old aircrafts owing to failure in meeting noise standards.
Environmental concerns owing to high carbon emissions have impeded the industry growth.
High taxes and poor infrastructure are major factors constraining the industry expansion in developing regions. The
North American business aviation industry suffered greatly owing to financial offset; however, the rebound of
recession has created several growth opportunities in the region. Political uncertainties in oil-producing countries may
affect the business jet industry. Moreover, growing pressure to reduce costs and improve operational efficiency is
poised to challenge industry augmentation. Longer lag and holdup time for jet certification process by regulatory
agencies and aviation authorities have slowed down the industry development. A rise in GDP levels coupled with
growth in business enterprises in Latin American countries such as Brazil and Argentina have favored industry growth
in the region. Growing business activities have a need for direct city-to-city access and it is subsequently propelling the
demand for commercial jets.
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Business jets are expected to gain prominence in the Asia Pacific region owing to strong demand for long range large
cabin commercial jets in countries such as India and China. Additionally, there exists a steady demand for commercial
planes in Australia. The demand for small sized jets is projected to intensify in Malaysia. These factors collectively have
contributed to industry rise in the Asia Pacific regional market.
Oil rich economies in the Middle East and African region are favoring by-liners and are seen to be generating high
demand for large business jets. Strong presence of commercial jet manufacturers in the U.S. and Canada have
contributed to industry expansion in the North American region. Commerc