The latest research study “Very light jet market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” of IMARC Group notes that the global market size for very light jets reached US$4.88 billion in 2021. Looking ahead, IMARC Group expects the market to reach $7.66 billion by 2027, at a CAGR of 7.60% in 2022. 2027
Effects of Covid-19:
We regularly track the direct impact of COVID-19 on the market as well as the indirect impact of related industries. These observations are integrated into the report.
Industry definition and application:
A very light jet represents a compact, entry-level aircraft that can support up to 13,000 lbs. or 5,900 kg takeoff weight with a seating capacity of fewer than ten passengers. It is generally approved for single-pilot operation and is powered by conventional fuel propulsion. A very light jet offers various advantages such as: B. Cost efficiency and fuel efficiency. Consequently, it is widely used in compact aeronautical solutions for training activities, business trips, passenger transportation systems, military operations, surveying and R&D activities in commercial, civil and military fields, etc.
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Very Light Jet Market Trends and Drivers:
Increasing demand for private aviation solutions due to rising consumer disposable income levels and the growing number of high net worth (HNW) individuals is primarily driving the very light jet market.
Additionally, the expanding travel and tourism industry is driving the need for non-scheduled charter flights, further fueling market growth. In addition, the widespread use of very light jets in reconnaissance procedures at the front of the military is another important growth factor.
In addition, the…