The jet aircraft category refers to business jets, corporate jets and private jets.
Their enormous popularity is due to their flexibility, prestige and speed of operation which is not achieved by the commercial airline industry.
Business jets are grouped by size from light jets, to mid-size, super mid-size, large jets (heavy jets) and airliners (also referred to as bizliners). Larger-cabin aircraft classes ranging from super mid-size through ultra long-range and business liner are the most popular aircraft in the jet market today.
The majority of charter and private operations operate with jet aircraft, they are also used for evacuation of casualties, express parcel deliveries, by public bodies, government officials and in some cases the military.
The worldwide fleet currently stands at close-on 18,000 business jets at the end of 2015 with about 70% of the fleet in North America. Following North America, the European market is the next largest, followed by the Middle East, Asia and Latin America. Globally total private and business jet billing amounts to just over US$22 billion, which is a significant market and underlines the importance of this sector.
Over the next decade the jet aircraft fleet is expected to grow by circa 9,500 aircraft new deliveries; most of these are in the large business jet category.
To-date the 20-year delivery forecast predicts 22,000 business jet deliveries valued at $617B USD.
Approximately 50% of this new business jet demand comes from existing owners replacing their aircraft, typically 5-10 years after initial delivery.
There are nearly 50 different types of private jets in production today, and each has its own unique set of characteristics and capabilities. Some are designed for high speed flight, other for long-range and some are designed to operate at small airports with short runways.
Manufacturers of corporate, private and business jet aircraft include the following companies: