US Business Jet Market Size

The US business jet market is projected to experience modest growth over the forecast period, with its market size expanding steadily. This market is a significant component of the broader general aviation sector, contributing substantially to the national economy. The United States boasts the largest fleet of business jets globally, driven by a notable increase in ultra-high-net-worth individuals, which has spurred demand for private jet travel. The trend towards private jet utilization, particularly for safer travel options post-COVID-19, is expected to persist, influencing market dynamics and delivery trends in the coming years.

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Market Size of us business jet Industry

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US Business Jet Market Summary
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Icons Lable Value
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2030
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 15.37 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2030) USD 16.47 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Body Type Large Jet
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2030) 1.15 %
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Body Type Mid-Size Jet

Major Players

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*Disclaimer: Major Players sorted in no particular order

Key Players

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US Business Jet Market Analysis

The US Business Jet Market size is estimated at 15.37 billion USD in 2024, and is expected to reach 16.47 billion USD by 2030, growing at a CAGR of 1.15% during the forecast period (2024-2030).

15.4 B

Market Size in 2024 (USD)

16.5 B

Market Size in 2030 (USD)

3270

Total Deliveries in the Historic Period (2017-2023)

3546

Total Deliveries during the Forecast Period (2024-2030)

Largest Market by Body Type

79.43 %

value share, Large Jet, 2023

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The increasing number of high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) is driving the demand for large business jets.

Fastest-growing Market by Body Type

1.56 %

Projected CAGR, Mid-Size Jet, 2024-2030

Regional air travel and the capability to access remote airports/locations are making mid-size jets more attractive to customers, driving the demand for the market.

Leading Market Player

38.85 %

market share, General Dynamics Corporation, 2022

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The company's strongest and most advanced fleet of different types of business jets is prompting customers to procure more jets from it, enabling the company to gain a high market share.

Second Leading Market Player

24.17 %

market share, Bombardier Inc., 2022

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The company's focus on new product development in the business jets segment enables it to be one of the leading players.

Third Leading Market Player

14.23 %

market share, Textron Inc., 2022

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Cessna Aircraft, which is a part of Textron Aviation, offers various types of technologically advanced business jets, thereby resulting in a majority of the market share.

The increase in business travel flight hours after COVID-19 generated a high demand for business jets

  • The US business aviation market is part of general aviation and contributes around USD 150 billion to the US economy annually. The US fleet accounted for 67% of the world's business jets, and the country holds around 14,710 registered business jets, the largest fleet size in the region. In 2022, the number of UHNWIs surged by 52% in the country and aided in the increased procurement of business jets. Out of the business jets delivered from 2017 to 2022, light jets constituted around 44%, compared to large and mid-size jets, with 41% and 15%, respectively.
  • During the COVID-19 pandemic, a safer way of traveling became one of the major criteria for high-net-worth individuals in the country, which resulted in the increased utilization of private jets. The same trend is expected to continue over the next few years. In terms of deliveries, in 2022, the United States accounted for almost 96% of North America's total business jet deliveries.
  • Various aircraft have been delivered to cater to the needs of high-net-worth individuals and business executives. In 2022, Textron became the leading player in terms of deliveries, with 129 aircraft, while Gulfstream Aerospace held the second position with 90 aircraft deliveries. Cirrus Aircraft, Embraer, and Bombardier were the other major players, with 79, 68, and 57 aircraft deliveries in the country, respectively. In October 2019, Chairman Aviation, a US-based fractional and private aviation membership company, ordered a new Cessna Citation CJ3+, its second Citation jet purchase in 2019. The order marks the third Textron Aviation aircraft addition to its fleet. Such factors are expected to drive business jet deliveries to rise by 4,027 between 2023 and 2030.
US Business Jet Market

US Business Jet Industry Segmentation

Large Jet, Light Jet, Mid-Size Jet are covered as segments by Body Type.

  • The US business aviation market is part of general aviation and contributes around USD 150 billion to the US economy annually. The US fleet accounted for 67% of the world's business jets, and the country holds around 14,710 registered business jets, the largest fleet size in the region. In 2022, the number of UHNWIs surged by 52% in the country and aided in the increased procurement of business jets. Out of the business jets delivered from 2017 to 2022, light jets constituted around 44%, compared to large and mid-size jets, with 41% and 15%, respectively.
  • During the COVID-19 pandemic, a safer way of traveling became one of the major criteria for high-net-worth individuals in the country, which resulted in the increased utilization of private jets. The same trend is expected to continue over the next few years. In terms of deliveries, in 2022, the United States accounted for almost 96% of North America's total business jet deliveries.
  • Various aircraft have been delivered to cater to the needs of high-net-worth individuals and business executives. In 2022, Textron became the leading player in terms of deliveries, with 129 aircraft, while Gulfstream Aerospace held the second position with 90 aircraft deliveries. Cirrus Aircraft, Embraer, and Bombardier were the other major players, with 79, 68, and 57 aircraft deliveries in the country, respectively. In October 2019, Chairman Aviation, a US-based fractional and private aviation membership company, ordered a new Cessna Citation CJ3+, its second Citation jet purchase in 2019. The order marks the third Textron Aviation aircraft addition to its fleet. Such factors are expected to drive business jet deliveries to rise by 4,027 between 2023 and 2030.
Body Type
Large Jet
Light Jet
Mid-Size Jet
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US Business Jet Market Size Summary

The US business jet market is a significant segment of the general aviation industry, contributing substantially to the national economy. The United States boasts the largest fleet of business jets globally, with a substantial portion of the world's business jets registered in the country. The market has seen a notable increase in demand, particularly among ultra-high-net-worth individuals, driven by factors such as the need for safer travel options during the COVID-19 pandemic and the growth in wealth among high-net-worth individuals. This trend has led to a rise in business jet deliveries, with light jets being the most popular choice among buyers. The market is characterized by a few dominant players, with companies like Textron, Gulfstream Aerospace, and Bombardier leading in aircraft deliveries.

The market's growth is further supported by the increasing interest in sustainable investing among ultra-high-net-worth individuals, as well as the robust performance of the US economy and its industrial and technology sectors. The demand for private aircraft ownership has been bolstered by favorable public market conditions and capital-raising activities. The market remains fairly consolidated, with a few major companies holding a significant share. Recent developments include strategic partnerships and expansions by key players, such as Textron Aviation's agreement with Fly Alliance and Gulfstream Aerospace's expansion of its operations. These activities are expected to drive further growth in the business jet market over the coming years.

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US Business Jet Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Body Type

      1. 1.1.1 Large Jet

      2. 1.1.2 Light Jet

      3. 1.1.3 Mid-Size Jet

US Business Jet Market Size FAQs

The US Business Jet Market size is expected to reach USD 15.37 billion in 2024 and grow at a CAGR of 1.15% to reach USD 16.47 billion by 2030.

In 2024, the US Business Jet Market size is expected to reach USD 15.37 billion.

US Business Jet Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030