The global yacht charter market was valued at US$ 35.0 Bn in 2014 and is expected to reach US$ 51.0 Bn by 2020, reflecting a CAGR of 6.5% during forecast period.
Eastern Europe is expected to exhibit the fastest growth as compared to other regions with a CAGR 7.2%. This growth is supported by rising disposable income of consumers an increasing number of yacht charter destinations. Other factors that are fueling the growth of yacht charter market are product innovation and technological advancement.
Geographically, the market is sub-segmented into four regions namely North America, Latin America, Rest of Europe, Eastern Europe, Middle East and Africa Asia Pacific. Eastern Europe is expected to show maximum growth with CAGR of 7.2%. Among all of these regions, Rest of Europe is the largest market in terms of revenue followed by Eastern Europe that contributed US$9.04 Bn in 2014. The growth of yacht charter market is supported by the increasing high tier population and rising time for leisure activities among consumers.
The global business jet market was worth USD $ 20.9 Bn in 2013 and is projected to grow at a CAGR of 6.86% to USD 33.8 Bn by the end of 2020. Both North America and Europe are showing recovery in business jets market demand. While both the regions have a comparable size of economy, the private jet flight activity in North America is 3.5 times larger. In the asian region the players are focussed on China and India. It is expected that in the next decade the business aviation industry in India will grow three times amd emerge as the third largest aviation market by 2020.
The global business jet market demand which was nearly halved during the financial crisis has now improved and large players are launching new models in the wake of increasing demand from the Middle East, Asia and North America. Although the corruption crackdown and the new government's policies have slowed the economic pace of China, business jet market outlook is still bright. The Greater China area is expected to take delivery of 2,420 business jets in the period of 2013 to 2032. This business jet market 2015 research highlights key drivers of the trends emerging in the global business jet market. The current market scenario and future prospects of the sector have been examined in detail. The North America, Europe, India and China business jet market. The current market scenario and future prospects of the sector have been examined in detail. All key global players in the business jet market including Gulfstream Aerospace Corp, Bombardier Inc, Cessna Aircraft, Honeywell International Inc, Embraer S.A, Dassault Aviation have been profiled.
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