Business Jets Market: Strategic Initiatives by Leading Manufacturers Business or private jets were first introduced in the 1930s when light passenger planes were used to transport businessmen and politicians. But the sector significantly transitioned in the 1970s when companies decided to develop jets specifically for business travel. Presently, numerous manufacturers are competing with faster, more luxurious jets in the market. Driven by these advancements and several others, Inkwood Research predicts that the global business jets market is set to propel with a 3.9% CAGR during the forecast period, 2023-2032.
This blog discusses the top 3 manufacturers of business jets globally and some of their key strategic initiatives.
Strategies Adopted by Top Manufacturers
AIRBUS SE
Airbus SE was founded in 1970, with headquarters in Leiden, Netherlands. Recently they’ve simplified their organizational structure and entered several contracts. TwoTwenty large jets based on their A220100 business class can go over 10,000 kilometers. In February 2023, Tata Group-led Air India signed mega agreements with Airbus SE to supply about 250 new planes. By the second half of 2023, Air India is expected to receive 40 widebody A350s and 210 single-aisle A320neos worth over $50 billion. As per Christian Scherer, Chief Commercial Officer and