Business jets industry take off as global market demand soars

The global business jet market size was valued at $46.51 bn in 2024. The market is anticipated to grow from $48.13 bn in 2025 to $67.68 bn by 2032, exhibiting a CAGR of 4.99% during the forecast period. North America dominated the business jet market with a market share of 44.74% in 2024

The business jet industry is a market for private aircraft used by corporations and individuals, driven by the growing number of high-net-worth individuals and the need for efficient business travel. The market is experiencing significant growth, with forecasts predicting continued expansion due to factors like technological advancements, fleet modernization, and emerging market demand, particularly in Asia. Key players include manufacturers like Bombardier, Textron Aviation, Embraer, Dassault, and Gulfstream, and growth is fueled by both the ownership and charter segments, with a strong demand for performance and advanced features.

The global business jet market size was valued at $46.51 billion in 2024. The market is anticipated to grow from $48.13 billion in 2025 to $67.68 billion by 2032, exhibiting a CAGR of 4.99 per cent during the forecast period. North America dominated the business jet market with a market share of 44.74 per cent in 2024.

A business jet is designed to transport small groups of people. Recently, there has been exceptional growth in the number of high-net-worth travelers, thereby generating a high demand for private aviation and procurement of enhanced business aircraft. Additionally, fleet modernization programs by developed and emerging economies are anticipated to improve fleet capabilities and generate demand for new charter services with enhanced cabin interiors and advanced avionics.

A crucial trend seen in the market is the adoption of improved interiors and technological equipment in aircraft. This entails the incorporation of cutting-edge safety features, combat technology, and a modern flight deck in business aircraft. Additionally, major market participants are concentrating on introducing state-of-the-art private jets to offer clients an unparalleled experience equipped with various safety measures. For instance,

Business jet deliveries are expected to climb in 2025. Forecasts from Cirium and Honeywell show projected growth of 11-12 per cent in new aircraft deliveries globally. OEMs are scaling production, backlogs remain strong, and new models are entering the market. For pilots, fleet managers, and charter operators, this means more movement, more choices, and tighter planning windows.

Cirium expects about 695 business jets to be delivered in 2025- up roughly 11 per cent from 2024 levels. Over the next decade, that total climbs to more than 8,700 jets, with a value around $277 billion.

Honeywell’s 10-year forecast is similar: 8,500 business jet deliveries, totaling $280 billion. OEM backlogs are holding strong, with newer models in high demand and used inventory tight.

This activity signals a clear shift: buyers and operators aren’t waiting anymore. Delays from supply chain disruptions are easing, and the long lead times of the pandemic recovery era are shortening. With that, attention is turning to aircraft availability, model specs, and fleet planning.

North America still leads in total deliveries — and that’s not changing anytime soon. The region is expected to account for about two-thirds of business jet demand in the next five years.

Asia-Pacific is rebounding, especially in Southeast Asia and India. The region’s fleet grew 1.2% in 2024. India’s business jet fleet has grown by 25% since 2019. China is shrinking slightly, but countries like Indonesia and the Philippines are seeing steady gains.

Latin America’s market share has doubled to 10 per cent, with Brazil leading demand in both light and midsize categories.

Middle East continues to grow, especially for large-cabin jets. Operators in the region are increasingly focused on range, comfort, and fleet modernization. Europe remains steady — about 16% of demand — but rising regulation and sustainability pressures are shaping operator decisions.

In all regions, the theme is the same: demand is solid, and operators are looking ahead. One of the biggest drivers is the ongoing demand for large-cabin aircraft. These account for over 65% of new aircraft deliveries, particularly in long-range markets like North America, the Middle East, and parts of Asia.

New aircraft types are also drawing attention: Gulfstream G800 has cleared both FAA and EASA hurdles and is expected to enter service soon.

Bombardier’s Global 8000 is scheduled to debut in 2025- set to be the fastest civilian aircraft since Concorde. Gulfstream G400 deliveries are expected in early 2026 as well. Dassault’s Falcon 10X is still in development but remains on track for a 2027 release.

Embraer’s Phenom and Praetor lines continue to perform well in the light and midsize segments, particularly for fleet and charter operators.

Backlogs across these models remain healthy. For operators, that means understanding production timelines and planning upgrades early.

Supply chains have improved but remain tight in areas like engines and interiors. Geopolitical tensions- such as trade restrictions- still impact deliveries. Embraer, for example, continues to navigate tariff uncertainty in U.S.–Brazil–China deals.Economic slowdowns in specific regions (like China) could soften short-term demand.

Still, most indicators point to continued momentum in 2025 and beyond.