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Latin America Business Jet Market - Growth, Trends, and Forecast (2019 - 2024)

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  • 87 Pages
  • September 2019
  • Region: Latin America
  • Mordor Intelligence
  • ID: 4534349
Market Overview

The Latin America business jet market is anticipated to grow at a CAGR of above 0.3% during the forecast period.
  • Currently, business jets aged 30+ years make up around 25% of the South American business jet volume. The high percentage of older business jets suggests that future retirements can make way for newer business jet deliveries into the region over the forecast period.
  • The need for modernization of the region’s business aviation infrastructure like runways, terminals, and maintenance facilities in airports to meet the US business aviation standards is allowing the government as well as the private organizations to invest heavily in infrastructure.
  • However, the demand for helicopters from business aviation and VIP transportation from the corporate companies and private helicopter operators in the region is anticipated to act as a barrier for the growth of the business jets market during the forecast period.

Scope of the Report

A business jet or a private jet is a jet aircraft that is designed to transport small groups of people. Business jets are procured by individuals, corporates, VIPs, sportsperson, government officials, and charter service providers. The report excludes helicopters used as business jets.

Key Market Trends

Mid-size Jet Segment to Experience the Highest Growth During the Forecast Period

The mid-size jet segment is expected to grow at the highest CAGR during the forecast period. The deliveries of mid-size business jet have observed a downfall in 2016 and 2017 and in 2018 there was slight growth in the deliveries. Mexico received 4, 3, and 5 mid-size jets in 2016, 2017 and 2018 respectively, whereas South America received 7, 6, and 5 jets during the same period. The growing number of business aircraft programs and initiatives of the cooperate companies along with an increase in charter operators is anticipated to boost the growth of the segment in the market during the forecast period. However, the large jet segment has the highest share compared to light jets and mid-size jets despite low deliveries due to high variation in the price of the large jets.

Brazil has the Highest Market Share in 2018

Brazil currently has the highest share in the Latin America business jet market. The country has the highest fleet of business jets operating in Latin America and the country has been acting as the hub for business aviation in the region. Currently, there is very little infrastructure (runways, hangers, and MRO facilities) at the airports to facilitate more number of business jets and general aviation aircraft. With a lot of potential for the development of general aviation infrastructure, the market is poised to grow during the forecast period. The growth in the number of charter operators along with their subsequent fleet modernization plans to replace their aging fleet is another factor boosting the growth of the business jet market in Brazil during the forecast period. However, economic and political turmoil in the country is anticipated to hinder the growth in the coming years.

Competitive Landscape

Some of the prominent players in the Latin America business jet market are Textron Inc., Embraer SA, Dassault Aviation, Bombardier Inc., and Gulfstream Aerospace Corporation. With infrastructure development plans of business aviation underway, the demand for business jets in Latin America is anticipated to grow positively over the coming decade. To make profits in the long run, the manufacturing companies are developing new strategies and making strategic investments to increase their activities in the region. Also, with the increasing preference for light jets in the region, companies with new types of light models are anticipated to attract new customers (high net worth individuals and corporate companies) in years to come. For instance, in July 2018, Bombardier unveiled a new light jet model, Learjet 75 Liberty, whose deliveries are anticipated to begin from 2020. However, the increased preference of helicopters over business jets in the region is anticipated to act as a hindering factor for the growth of the business jet market in Latin America.

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  • The market estimate (ME) sheet in Excel format.
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Table of Contents

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 Aircraft Type
5.1.1 Light Jet
5.1.2 Mid-size Jet
5.1.3 Large Jet
5.2 Country
5.2.1 Brazil
5.2.2 Mexico
5.2.3 Colombia
5.2.4 Rest of Latin America
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Textron Inc.
6.2.2 Embraer SA
6.2.3 Dassault Aviation SA
6.2.4 Bombardier Inc.
6.2.5 Gulfstream Aerospace Corporation
6.2.6 Honda Aircraft Company

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Textron Inc.
  • Embraer SA
  • Dassault Aviation SA
  • Bombardier Inc.
  • Gulfstream Aerospace Corporation
  • Honda Aircraft Company