Latin America Business Jet Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.64 Billion |
| Market Size (2029) | USD 1.31 Billion |
| CAGR (2024 - 2029) | 15.66 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Business Jet Market Analysis
The Latin America Business Jet Market size is estimated at USD 0.64 billion in 2024, and is expected to reach USD 1.31 billion by 2029, growing at a CAGR of 15.66% during the forecast period (2024-2029).
Factors such as growth in aircraft infrastructure developments within the region and a growing demand for usage of business jets by high-net-worth individuals are expected to drive the market growth in the coming years.
Moreover, the growing demand for business jets within the region has also increased aircraft companies' acquisitions of new and advanced business jets to cater to potential customers and increase their fleets. Also, the growing demand for private helicopters for VIP transportation will hamper the market's growth in the coming years.
In addition, the growing usage of artificial intelligence and blockchain technologies in business aviation infrastructure development will increase opportunities for international business aviation companies and aviation infrastructure companies to enter the market and gain significant market share.
Latin America Business Jet Market Trends
The Light Jet Segment Will Showcase Remarkable Growth During the Forecast Period
A light jet is a small class of aircraft that generally carries between four and eight passengers. It is used for short-distance travel since it cannot hold more fuel. Such jets can also access small airports with short runways in remote or public areas, enabling them to land in smaller airports and making light jets ideal for business travel.
The recent surge in high-net-worth individuals (HNWIs) has also driven the demand for such aircraft. On the other hand, aircraft companies are now focusing on developing new and advanced light jets to increase their product portfolio and cater to diversifying customer requirements. For instance, in August 2023, Embraer announced that their Phenom 300 light business jet accounted for most light-jet deliveries in the second quarter and stood at 22 deliveries within the Latin American region.
Brazil Dominates the Market During the Forecast Period
The business aviation industry in Brazil is poised to witness significant growth in the future owing to the strong demand for business jets by high-net-worth individuals. The country has the highest number of business jets in Latin America and has also been a significant hub for business aviation operations. As of 2022, the country's total number of business aircraft amounted to 1,505 jets. Also, according to the global wealth report of 2023, Brazil gained 120,000 new high-net-worth individuals in 2022, the largest growth rate in the world.
Moreover, factors such as a noteworthy recovery in the Brazilian economy coupled with growth in the value of the Brazilian currency enabled the region to witness a significant increase in the number of HNWIs. The construction of new aviation infrastructure has also positively affected the market growth. For instance, in June 2023, the Catarina International Executive Airport in Brazil announced its plans to expand the number of hangars available from 12 to 25 hangars shortly, owing to the growing demand for business jet operations within the country.
Latin America Business Jet Industry Overview
The Latin American business jet market is consolidated, with a few players holding significant shares. Some prominent players in the market are Textron Inc., Dassault Aviation, Bombardier Inc., Honda Aircraft Company, LLC, and Gulfstream Aerospace Corporation.
Various major players in the market are now looking towards acquiring new business aircraft to expand their fleet and cater to newer customers. The key players are now increasing their focus on developing new strategies and making strategic investments to increase their activities in the region and gain a significant market share. The market players also develop advanced business jets to expand their customer base. Furthermore, the growth in infrastructural developments will also lead to the opening up of new business opportunities within the region.
Latin America Business Jet Market Leaders
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Textron Inc.
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Dassault Aviation
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Bombardier Inc.
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Honda Aircraft Company, LLC
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Gulfstream Aerospace Corporation
*Disclaimer: Major Players sorted in no particular order
Latin America Business Jet Market News
In August 2023, Embraer announced that deliveries for its aircraft within Latin America jumped 47% in the second quarter. Moreover, the company delivered 62 aircraft in Q2 of 2023, 38 of which were executive jets.
In August 2023, Satcom Direct, a business aviation solutions provider, announced that they had installed a Satcom Direct Plane Simple Ku-band antenna on a Gulfstream G550 executive jet. This advanced technology terminal will optimize communications within business aircraft in Latin America. Three additional Gulfstream G550 aircraft are scheduled to have the equipment installed within this year.
Latin America Business Jet Market Report - Table of Contents
1. Introduction
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. Market Segmentation
5.1 Aircraft Type
5.1.1 Light Jets
5.1.2 Mid Size Jets
5.1.3 Large Jets
5.2 Geography
5.2.1 Brazil
5.2.2 Argentina
5.2.3 Mexico
5.2.4 Colombia
5.2.5 Chile
5.2.6 Venezuela
5.2.7 Rest of Latin America
6. Competitive Landscape
6.1 Vendor Market Share
6.2 Company Profile
6.2.1 Textron Inc.
6.2.2 Dassault Aviation
6.2.3 Bombardier Inc.
6.2.4 Honda Aircraft Company, LLC
6.2.5 Gulfstream Aerospace Corporation
6.2.6 Embraer SA
6.2.7 The Boeing Company
7. Market Opportunities and Future Trends
Latin America Business Jet Industry Segmentation
A business jet, private jet, or bizjet is an aircraft designed to transport small groups of people. Business jets may be adapted for other roles, such as the evacuation of casualties or express parcel deliveries, and some are used by public bodies, government officials, and VIPs, amongst others.
The Latin American business jet market is segmented by aircraft type and geography. By aircraft type, the market is divided into light jets, mid-size jets, and large jets. The report also offers market size and forecasts for six countries across the region. For each segment, the market size and forecasts have been done based on value (USD).
| Aircraft Type | |
| Light Jets | |
| Mid Size Jets | |
| Large Jets |
| Geography | |
| Brazil | |
| Argentina | |
| Mexico | |
| Colombia | |
| Chile | |
| Venezuela | |
| Rest of Latin America |
Latin America Business Jet Market Research FAQs
How big is the Latin America Business Jet Market?
The Latin America Business Jet Market size is expected to reach USD 0.64 billion in 2024 and grow at a CAGR of 15.66% to reach USD 1.31 billion by 2029.
What is the current Latin America Business Jet Market size?
In 2024, the Latin America Business Jet Market size is expected to reach USD 0.64 billion.
Who are the key players in Latin America Business Jet Market?
Textron Inc., Dassault Aviation, Bombardier Inc., Honda Aircraft Company, LLC and Gulfstream Aerospace Corporation are the major companies operating in the Latin America Business Jet Market.
What years does this Latin America Business Jet Market cover, and what was the market size in 2023?
In 2023, the Latin America Business Jet Market size was estimated at USD 0.54 billion. The report covers the Latin America Business Jet Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Business Jet Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Business Jet Industry Report
Statistics for the 2024 Latin America Business Jet market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Business Jet analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
