Pune, Maharashtra -- (SBWIRE) -- 07/08/2020 -- Supersonic Business Jet Market:

Executive Summary

Supersonic Business Jet is a private business carrier with accommodation capacity of 10 to 50 passengers and speed almost equivalent to the speed of sound (Mach 1). Supersonic Jet ensures high efficiency with reduced travel time to half as compared to conventional business jet. Due to hike in the number of air travel passengers and rise in the demand for fast travel, Supersonic Jets gain popularity. For Instance: As per International Civil Aviation Organization (ICAO) in 2018, international air passenger traffic worldwide rose by 7.1 %, higher than previous year 2017. Also, as per Statista, in 2019, revenue generated from commercial airlines grew with the annual growth rate of around 5.3% due to rise in number of passengers. Further, technological advancements in the manufacturing of Supersonics Jets is likely to create several opportunities for the market growth. Moreover, the evolution to opt for light weight and durable aerodynamics as compared to weighted material creates attraction in the market. Apart from innovative launching technologies, mergers and acquisition strategy has been adopted by multiple manufacturers to expand their service quality and gain larger market share. For Instance: In February 2019, Aerion Corporation, a US based company collaborated with United States based Boeing Company where Boeing Company would provide engineering, manufacturing and flight-testing services for Aerion Corporation's Supersonic Business Jet Manufacturing. Also, in April 2020, Lockheed Martin announced collaboration with NASA for the launch of X-59 Quiet Supersonic Transport with noise reduction feature, this boosts the growth of the market. However, high fuel consumption, higher complexity while manufacturing and higher cost per seat are the factors restraining the growth of the market over the forecast period of 2020-2027.

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The regional analysis of Global Supersonic Business Jet Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing rise in the expenditure by government for development in defense sector. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rise in the number of jet owners in emerging economies such as China, India and Japan and manufacturers' motive to improve customer travel experience would create lucrative growth prospects for the Power Tools market across Asia-Pacific region.

Major market player included in this report are:
Lockheed Martin Corporation (US)
Boom Technology, Inc. (US)
Aerion Corporation (US)
Airbus SAS (France)
Spike Aerospace, Inc. (US)
Boeing Company(US)
TsAGI (Tsentralniy Aerogidrodinamicheskiy Institut )(Russia)
HyperMach Aerospace Industries (UK)
Gulfstream Aerospace Corporation (US)

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Light Jet
Mid-Size Jet
Large Jet

By Application:
Commercial Use
Household Use

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Supersonic Business Jet Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Continuous…

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