North America Business Jets Market Size Analysis - Market Share, Forecast Trends and Outlook Report (2025-2034)

The North America business jets market reached around USD 11.81 Billion in 2024. The market is projected to grow at a CAGR of 6.80% between 2025 and 2034 to reach nearly USD 22.80 Billion by 2034.

North America Business Jets Market Growth

Business aviation plays a significant role in the U.S. economy, contributing $150 billion to economic output and providing employment for over 1.2 million individuals. Notably, only approximately 3% of the nearly 15,000 business aircraft registered in the United States are utilised by Fortune 500 companies. The remaining 97% are operated by a diverse array of entities, including government agencies, educational institutions, nonprofit organisations, and businesses of various sizes.

By the end of 2024, the volume of domestic business travel in the U.S. is anticipated to reach $442 million, reflecting an increase of about 89% compared to 2023, as reported by U.S. Travel. Furthermore, U.S. Travel estimates that international spending by U.S. travellers will amount to $28.7 billion by the end of 2024, which is about 78.8% of the figures recorded in 2019. By the year 2027, this spending is projected to increase to $29.8 billion.

The growing demand for corporate travel is driving an increase in the utilisation of business jets, as companies seek efficient and flexible transportation options. Business jets provide direct access to remote destinations, save valuable time, and enhance productivity by accommodating the demanding schedules of executives and high-priority travellers, thereby proving to be an essential asset for such travel needs.

Key Trends and Developments

Strong economic growth in the region, rise in corporate travel, advancements in aviation technology, and increasing popularity of charter services are the major trends impacting the North America business jets market expansion

October 2021

Embraer, a Brazilian multinational aerospace company, successfully delivered the inaugural Praetor 500 to AirSprint Private Aviation, a privately owned Canadian firm specialising in Fractional Jet Ownership. Praetor 500, the world’s most disruptive and technologically advanced midsize business jet, is capable of non-stop flights of 3,340 nm at long-range cruise speed and boasts excellent runway performance under wet and snowy conditions.

February 2024

The Federal Aviation Administration of the United States anticipated an increase of 3,500 take-offs and landings between February 7 and February 12, a considerable portion of which was expected to involve private jets due to the occurrence of Super Bowl LVIII in Las Vegas.

February 2024

Bombardier, a Canadian manufacturer of business jets, established a new private jet manufacturing facility in Mississauga, with an investment of $670 million. This assembly plant is anticipated to be recognised as the most advanced private jet manufacturing facility globally.

July 2024

Chartright Air Group, a prominent provider of private aviation services in Canada, received the first corporate ACH160 helicopter in the country. This helicopter commenced operations immediately, marking it as the first of its kind to be delivered in North America.

Strong Economic Growth in the Region

The robust economic conditions in North America are driving increased expenditures by both corporations and affluent individuals on business jets. Enterprises and high-net-worth individuals are allocating resources towards private jets to facilitate efficient travel and capitalise on improved business prospects.

Rise in Corporate Travels

The growing need for adaptable and time-efficient travel is propelling the market forward. Organisations are utilising jets to enhance executive travel efficiency and to reach remote or less accessible destinations swiftly.

Adoption of Advanced Technologies

Advancements in aircraft design and avionics have significantly transformed the landscape of aviation, particularly in the realm of business jets. These innovations not only enhance the overall performance of the aircraft but also contribute to improved safety measures and greater fuel efficiency.

Rising Popularity of Charter and Fractional Ownership

The increasing popularity of charter services and fractional ownership is democratising access to private jets, expanding the market beyond traditional full ownership and creating new opportunities for a wider range of customers to enjoy the advantages of private air travel.

North America Business Jets Market Trends

Advances in jet technology are centred on improving performance, increasing fuel efficiency, and minimising environmental effects. Key developments encompass sophisticated avionics, enhanced aerodynamics, and the use of sustainable aviation fuels, which respond to rising environmental awareness and regulatory requirements for more eco-friendly aviation practices. Additionally, supportive regulations and upgraded airport infrastructure facilitate business aviation, streamlining private jet operations throughout North America.

North America Business Jets Industry Segmentation

North America Business Jets Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type:

• Light Jet
• Mid-Size Jet
• Large Jet

Market Breakup by Country:

• United States
• Canada

North America Business Jets Market Share

Based on country, the market is segmented into Canada and the United States. Canada is projected to grow at a CAGR of 7.1% during the forecast period of 2025-2034 due to the robust growth of the aviation sector and the rising number of ultra-high-net-worth individuals in the country.

Leading Companies in the North America Business Jets Market

Major players are focusing on the manufacturing of sustainable and technologically-equipped jets to gain a competitive edge in the market.

Airbus SE

Airbus SE, established in 1970, is a multinational aerospace corporation based in Europe. The main focus of the company lies in the design and production of commercial aircraft; however, it also operates distinct divisions for defence, space, and helicopters.

Honda Aircraft Company

Established in 2006, Honda Aircraft Company is an aircraft manufacturer based in North Carolina, the United States. The company has pioneered several advancements in general aviation (GA) jet aircraft, such as the over-wing engine mount, natural laminar flow wings, and a carbon composite fuselage.

Cirrus Design Corporation

Cirrus Design Corporation, operating under the name Cirrus Aircraft, is an aircraft manufacturing company established in 1984. The company specialises in the production of the VK-30 kit aircraft and is based in Minnesota, the United States.

Textron Inc.

Textron Inc., an American industrial conglomerate established in 1923, is headquartered in Providence, Rhode Island. This multi-sector corporation capitalises on its extensive global network encompassing sectors such as aircraft, defence, industrial operations, and finance.

Other major market players include General Dynamics Corporation, Bombardier Inc., Embraer SA, The Boeing Company, and Pilatus Aircraft Ltd., among others.