Global demand for business jet travel has greatly improved, according to Sandler Research.
The company’s Global Business Jet Market Report, forecasts that the industry will grow at CAGR of 6.8 per cent in terms of revenue and 1.8 per cent of aircraft deliveries between 2014 and 2019.
The report covers the important market players including Bombardier, Cessna, Dassault Aviation, Embraer and Gulfstream.
“There has been an upturn in customer spending power with the economies reviving since the financial downturn,” concluded the report.
It cited a rising demand for luxury items, the benefit of shorter journeys, exemption from long airport queues and expanding business opportunities around the globe as reasons for growth.