Study Period | 2017 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Market Size (2025) | USD 16.54 Billion |
Market Size (2030) | USD 18.05 Billion |
CAGR (2025 - 2030) | 1.77 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
North America Business Jet Market Analysis
The North America Business Jet Market size is estimated at 16.54 billion USD in 2025, and is expected to reach 18.05 billion USD by 2030, growing at a CAGR of 1.77% during the forecast period (2025-2030).
The North American business jet industry maintains its dominant global position, demonstrated by accounting for 69% of global business jet deliveries in 2022, solidifying its status as the world's largest general aviation market. This market leadership is underpinned by the region's robust economic conditions, characterized by strong GDP growth and low unemployment rates, which have created a conducive environment for corporate expansion and investment. The stable economic climate has particularly benefited the business aviation sector, enabling companies to invest in fleet modernization and expansion. The industry has shown remarkable resilience, with operators adapting their business models to meet evolving customer demands and preferences for private aviation solutions.
The region's market dynamics are significantly influenced by its high concentration of high-net-worth individuals (HNWIs), with North America's HNWI wealth growing by approximately 5% in 2022 compared to 2021. This wealth expansion has directly translated into increased demand for private jet services, with North America now accounting for 66% of the global HNWI population. The growing preference for private aviation among this demographic has led to innovations in ownership models, including fractional ownership and jet card programs, making business aviation more accessible to a broader range of customers. The industry has responded by developing more flexible and customized solutions to meet the diverse needs of this expanding customer base.
The market's operational landscape is characterized by a substantial fleet presence, with the United States maintaining its position as the dominant player, accounting for approximately 90% of the total jet fleet in the region. This extensive fleet infrastructure has created a robust ecosystem of maintenance, repair, and overhaul (MRO) services, supporting the industry's operational efficiency and reliability. The market has witnessed significant developments in fleet modernization initiatives, with operators focusing on incorporating more fuel-efficient and technologically advanced business aircraft into their fleets. These improvements have enhanced operational capabilities while addressing growing environmental concerns within the industry.
Recent industry developments highlight the market's dynamic nature, exemplified by significant strategic moves in 2023. Dassault Aviation's announcement of a new cutting-edge MRO facility in Florida, set to open in 2025 with a capacity for 15 aircraft, demonstrates the industry's commitment to expanding service capabilities. Similarly, NetJets' agreement with Embraer in 2023 for the purchase of up to 250 Praetor 500 jets, valued at over USD 5 billion, reflects the strong market confidence and ongoing fleet expansion initiatives. These developments underscore the industry's focus on enhancing service infrastructure and fleet modernization to meet growing demand while improving operational efficiency and customer service capabilities.
North America Business Jet Market Trends
Rise in the HNWI population is acting as the major growth driver for the market
- Individuals with liquid financial assets over USD 1 million are termed as HNWIs, and those with a net worth of at least USD 30 million are termed as UHNWIs. Due to the rising equity markets and government stimulus, in 2022, the region overtook Europe and Asia-Pacific to lead the total HNWI population. North America’s HNWI wealth grew by almost 4% in 2022 compared to 2021. The leading position of North America in terms of the number and assets of HNWIs is mostly attributed to the United States. North America recorded the most significant rise in the ultrawealthy population, which recorded 49% of the global HNWI population in 2022.
- HNWIs often own private jets for personal or business travel. Although North America accounts for almost 70% of private jets globally, it lags in terms of private jets present as a percentage of its super-rich population compared to Latin America and Africa. As of December 2022, there were around 16,524 registered private aircraft in North America, of which the United States accounted for almost 91%, followed by Mexico and Canada, with 6% and 3%, respectively.
- Sustainable investing (SI) is attracting more attention and providing businesses with a high-potential engagement opportunity. In the ultra-HNWI segment, SI is rapidly gaining traction. For instance, about 40% of ultra-HNWIs are willing to invest money in sustainability, compared to 27% of HNWIs who expressed interest in SI products. Furthermore, in 2021 and 2022, there was an increase in the demand for aircraft ownership in the United States, driven by health considerations during the pandemic and a surge in global wealth in the financial markets. This trend is strengthened with capital raising and Initial Public Offering (IPO) activities and boosted by supportive public market valuations.
Segment Analysis: Body Type
Light Jet Segment in North America Business Jet Market
The light business jet segment dominates the North American business jet market, commanding approximately 45% of the total market share in 2024. This significant market position is driven by the growing investments in the travel and tourism sector, which have fueled the need for cost-efficient, non-scheduled charter jet flights. Light business jets have gained particular traction due to their lower prices, reduced maintenance requirements, minimal operating costs, and shorter take-off distance requirements. Popular models in this segment include Cirrus Aircraft's Vision SF50 G2, Cessna's Citation CJ3+, CJ4 Gen2, M2, and Embraer's Phenom 300E. The segment's dominance is further reinforced by the shift of premium commercial airline flyers to private jet travel through complete or fractional ownership, particularly following recent global events that highlighted the advantages of private aviation.
Mid-size Jet Segment in North America Business Jet Market
The midsize business jet segment is emerging as the fastest-growing category in the North American business jet market, with a projected growth rate of approximately 2% from 2024 to 2029. This growth is primarily attributed to the segment's ability to operate from smaller regional airports with shorter runways, offering buyers enhanced comfort and ample storage space while providing easier access to origination and destination points. The recovery in the business aviation sector in major countries like the US and Canada has particularly benefited midsize business jets. These aircraft provide an ideal balance of range and capacity, making them increasingly popular among corporations prioritizing convenience, productivity, and regional accessibility. The segment's growth is further supported by continuous technological advancements and improvements in fuel efficiency.
Remaining Segments in Body Type
The large business jet segment represents a significant portion of the North American business jet market, catering to ultra-high-net-worth individuals and corporations requiring extended range capabilities and premium comfort. These aircraft are particularly valued for their ability to conduct intercontinental flights and accommodate larger passenger groups with superior amenities. The segment has seen substantial technological advancements, with manufacturers focusing on developing jets with ultra-large cabin spaces and enhanced fuel efficiency. The presence of established manufacturers like Dassault Aviation, Gulfstream Aerospace, and Bombardier continues to drive innovation and market development in this category.
North America Business Jet Market Geography Segment Analysis
North America Business Jet Market in United States
The United States dominates the North American business jet landscape, commanding approximately 95% of the total market share in 2024. The country's robust aviation infrastructure, coupled with its large concentration of high-net-worth individuals and corporate entities, continues to drive market growth. The presence of major aircraft manufacturers and extensive maintenance, repair, and overhaul (MRO) facilities strengthens the country's position in the business jet sector. The US market particularly excels in the light jet category, which has shown remarkable resilience and adaptation to changing market demands. The country's business aviation sector benefits from well-established regulatory frameworks and certification processes overseen by the Federal Aviation Administration (FAA). The increasing emphasis on safer travel options post-pandemic has further solidified the market's foundation, with many premium commercial airline flyers transitioning to private aviation through either complete or fractional ownership models. The market's maturity is reflected in its diverse fleet composition and sophisticated service offerings, catering to various operational requirements and customer preferences.
North America Business Jet Market in Canada
Canada emerges as the most dynamic market in the North American business jet sector, projected to grow at approximately 14% annually from 2024 to 2029. The country's business aviation landscape is characterized by a strong presence in Ontario, Alberta, and Quebec provinces, which host significant business aircraft operations. The Canadian market demonstrates particular strength in the large jet segment, which dominates the country's operational fleet. The market benefits from comprehensive regulatory oversight by Transport Canada's Civil Aviation Directorate, ensuring high safety and operational standards. The country's vast geography and dispersed business centers make corporate aviation an essential tool for corporate connectivity. The growing ultra-high-net-worth individual population has been instrumental in driving market expansion, particularly in major metropolitan areas. The presence of domestic aircraft manufacturers and maintenance facilities further strengthens Canada's position in the regional market. The country's business aviation sector continues to evolve with an increasing focus on sustainable aviation practices and technological advancement.
North America Business Jet Market in Mexico
Mexico's business jet market demonstrates significant potential as a key player in North America's private aviation sector. The country's strategic geographical location between North and South America positions it as a crucial hub for business aviation traffic. The market shows particular strength in light and mid-size jet segments, reflecting the typical flight patterns between Mexico and the United States. The Mexican business aviation landscape benefits from well-established regulatory frameworks under the Federal Civil Aviation Agency (AFAC) and the Secretariat of Communication and Transportation (SCT). The country's growing economy and increasing international business connections drive the demand for private aviation services. Mexico's business jet sector is characterized by a high percentage of wholly-owned aircraft, indicating strong direct ownership preferences among users. The market benefits from extensive maintenance and support infrastructure, with several authorized service centers operating throughout the country. The continued development of regional airports and aviation facilities further supports the growth of business aviation activities.
North America Business Jet Market in Other Countries
The remaining North American territories, including various Caribbean nations and smaller jurisdictions, contribute to the region's diverse business aviation landscape. These markets, while smaller in scale, serve important niche segments within the business aviation sector. Countries such as the Dominican Republic, Puerto Rico, Guatemala, Panama, and the Bahamas demonstrate unique characteristics in their business aviation operations, primarily focused on tourism and regional business connectivity. These markets typically favor light and mid-size jets, which are well-suited to their operational requirements and infrastructure capabilities. The aviation regulatory frameworks in these territories continue to evolve, adapting to international standards while maintaining regional considerations. The tourism industry plays a significant role in shaping business aviation demands in these markets, with private jets serving as a crucial mode of transportation for high-end tourists exploring various destinations.
North America Business Jet Industry Overview
Top Companies in North America Business Jet Market
The business jet market in North America has witnessed significant product innovation trends, with manufacturers focusing on developing technologically advanced aircraft with enhanced range capabilities, fuel efficiency, and cabin comfort features. Companies are demonstrating operational agility through flexible production systems and robust supply chain management to meet varying demand levels. Strategic moves have centered around expanding service networks, strengthening aftermarket support capabilities, and establishing new maintenance facilities across key locations. Market leaders are actively pursuing expansion strategies through new manufacturing facilities, service centers, and strategic partnerships with charter operators and fractional ownership companies. The emphasis on sustainable aviation solutions and electric aircraft development represents another key trend, with business jet manufacturers investing in research and development of eco-friendly technologies.
Consolidated Market Led By Global Players
The North American business aircraft market exhibits a highly consolidated structure dominated by global aerospace conglomerates and specialized aircraft manufacturers. These established players leverage their extensive manufacturing capabilities, technological expertise, and well-established distribution networks to maintain their market positions. The competitive landscape is characterized by the presence of both diversified aerospace companies that offer various aviation products and services, as well as specialized business jet manufacturers focused solely on private aviation solutions. The market demonstrates high entry barriers due to significant capital requirements, regulatory compliance needs, and the importance of brand reputation in the industry.
The market has witnessed limited merger and acquisition activity, with companies primarily focusing on organic growth strategies and strategic partnerships rather than major consolidations. Key players are strengthening their positions through vertical integration, expanding their service offerings to include maintenance, repair, and overhaul services, pilot training, and aircraft management solutions. The competitive dynamics are influenced by the strong presence of North American manufacturers who benefit from their proximity to the largest business aviation market globally, while European manufacturers maintain significant market share through their premium product offerings and established service networks.
Innovation and Service Excellence Drive Success
For incumbent players to maintain and increase their market share, a focus on continuous product innovation, particularly in areas of sustainability, digital connectivity, and cabin comfort, remains crucial. Companies need to strengthen their aftermarket service networks, enhance customer support capabilities, and develop comprehensive solutions that address the evolving needs of business aviation customers. The ability to offer flexible ownership models, including fractional ownership and charter services, while maintaining strong relationships with key stakeholders such as charter operators and corporate clients, will be essential for sustained success. Additionally, manufacturers must optimize their production processes and supply chain management to ensure efficient delivery timelines and cost competitiveness.
New entrants and challenger brands seeking to gain ground in the market must focus on identifying and addressing specific market niches or underserved segments. Success factors include developing innovative aircraft designs that offer unique value propositions, establishing strong service and support networks, and building strategic partnerships with established industry players. Companies need to navigate complex regulatory requirements while maintaining high safety standards and operational efficiency. The ability to adapt to changing market dynamics, including potential shifts in customer preferences towards more sustainable aviation solutions and evolving regulatory frameworks, will be critical for long-term success in the market.
North America Business Jet Market Leaders
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Bombardier Inc.
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Dassault Aviation
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Embraer
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General Dynamics Corporation
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Textron Inc.
- *Disclaimer: Major Players sorted in no particular order
North America Business Jet Market News
- October 2023: Textron Aviation announced that it entered a purchase agreement with Fly Alliance for up to 20 Cessna Citation business jets, with options for 16 additional aircraft. Fly Alliance is expected to use the aircraft for its luxury private jet charter operations. It expected the delivery of the first aircraft, an XLS Gen2, in 2023.
- June 2023: Gulfstream Aerospace Corp. announced today the further expansion of its completions and outfitting operations at St. Louis Downtown Airport. With this latest expansion, Gulfstream is expected to increase completion operations at the site while modernizing its existing spaces by adding new, state-of-the-art equipment and tooling, representing a total capital investment of USD 28.5 million.
- June 2023: Gulfstream Aerospace Corp. announced the super-midsize Gulfstream G280 has been cleared for operations at France’s Airport of the Gulf of Saint-Tropez located in La Môle. The aircraft recently flew several takeoff and landing demonstrations at the short-field airport.
North America Business Jet Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 High-net-worth Individual (hnwi)
- 4.2 Regulatory Framework
- 4.3 Value Chain Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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5.1 Body Type
- 5.1.1 Large Jet
- 5.1.2 Light Jet
- 5.1.3 Mid-Size Jet
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5.2 Country
- 5.2.1 Canada
- 5.2.2 Mexico
- 5.2.3 United States
- 5.2.4 Rest of North America
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 Bombardier Inc.
- 6.4.2 Cirrus Design Corporation
- 6.4.3 Dassault Aviation
- 6.4.4 Embraer
- 6.4.5 General Dynamics Corporation
- 6.4.6 Honda Motor Co., Ltd.
- 6.4.7 Pilatus Aircraft Ltd
- 6.4.8 Textron Inc.
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR AVIATION CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
North America Business Jet Industry Segmentation
Large Jet, Light Jet, Mid-Size Jet are covered as segments by Body Type. Canada, Mexico, United States are covered as segments by Country.Body Type | Large Jet |
Light Jet | |
Mid-Size Jet | |
Country | Canada |
Mexico | |
United States | |
Rest of North America |
North America Business Jet Market Research FAQs
How big is the North America Business Jet Market?
The North America Business Jet Market size is expected to reach USD 16.54 billion in 2025 and grow at a CAGR of 1.77% to reach USD 18.05 billion by 2030.
What is the current North America Business Jet Market size?
In 2025, the North America Business Jet Market size is expected to reach USD 16.54 billion.
Who are the key players in North America Business Jet Market?
Bombardier Inc., Dassault Aviation, Embraer, General Dynamics Corporation and Textron Inc. are the major companies operating in the North America Business Jet Market.
Which segment has the biggest share in the North America Business Jet Market?
In the North America Business Jet Market, the Large Jet segment accounts for the largest share by body type.
Which country has the biggest share in the North America Business Jet Market?
In 2025, United States accounts for the largest share by country in the North America Business Jet Market.
What years does this North America Business Jet Market cover, and what was the market size in 2025?
In 2025, the North America Business Jet Market size was estimated at 16.54 billion. The report covers the North America Business Jet Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the North America Business Jet Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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North America Business Jet Market Research
Mordor Intelligence provides a comprehensive analysis of the North America business jet market. With decades of expertise in business aviation research, our extensive report covers the full spectrum of private aviation and corporate aviation. This includes detailed analysis of air taxi services, charter jet operations, and fractional ownership programs. The study encompasses all aircraft categories, from very light jet and light business jet segments to large business jet and VVIP aircraft sectors. It offers stakeholders crucial insights into premium aircraft trends and developments in luxury aviation.
The report is available as an easy-to-download PDF. It provides stakeholders with actionable intelligence on business aircraft manufacturing trends, general aviation statistics, and emerging opportunities in private air transport. Our analysis includes detailed business jet market forecast data. It examines the evolution of midsize business jet demand and the growing influence of business jet manufacturers. The comprehensive coverage extends to executive jet and corporate jet segments. It also analyzes the expanding bizjet market and emerging trends in business aviation statistics. This enables industry participants to make informed strategic decisions based on robust market intelligence.