The global very light jet market size was US$ 4,098.6 million in 2021. The global very light jet market size is forecast to reach US$ 10,446.2 million by 2030, growing at a compound annual growth rate (CAGR) of 12.0% during the forecast period from 2022 to 2030.

A very light jet is a small aircraft with a maximum takeoff weight of fewer than 13,000 pounds (5,900 kg) and a passenger capacity of no more than 9 to 10 people. The tiny business jet solution is the very light jet, approved for single-pilot operation. Because it is a cost-effective and fuel-efficient alternative, a very light jet has significant advantages over other aviation solutions. On the civil and military fronts, very light planes have a wide range of applications, including passenger commutes, training, and research.

Factors Influencing Market Growth

Factors driving the global market include rising inclination toward private aviation solutions and increasing health concerns.
Increased raw material prices result in the rising cost of very light jets while growing environmental problems and alternate aviation solutions may slow down the overall market growth.
Untapped possibilities in growing economies and entering into contracts and agreements for long-term business prospects are forecast to offer lucrative growth opportunities for the global market during the forecast period.
Impact Analysis of COVID-19

During the COVID-19 pandemic, the aviation sector has faced high financial losses and considerable delays in business operations due to the government's restrictions in order to curb the spread of the virus. In addition, it limits the use of aviation mediums for the commute. Thus, the aviation industry faced a severe impact in 2020. The global very light jet market has a negative effect due to the reduced demand and supply outlook from COVID-19.

Regional Insights

The Asia Pacific region is forecast to have lucrative growth opportunities in the market during the forecast period. Due to the modification in the aviation industry in the region. In addition, the transformation of the transportation sector and the rising number of orders, mainly from China and Japan drive the market growth. Furthermore, growing expenditure on military training and the increasing usage of very light jets for business travel fueled the market growth in the region.

Leading Competitors

The leading prominent companies profiled in the global very light jet market are:

Bombardier Inc.
Cirrus Industries, Inc.
Diamond Aircraft Industries GmbH
Embraer S.A.
Honda Motor Co., Ltd.
MSC Aerospace LLC
Nextant Aerospace Holdings, LLC
Pilatus Aircraft Ltd
Stratos Aircraft, Inc.
Textron Inc
Other Prominent Players
Scope of the Report

The global very light jet market segmentation focuses on Aircraft Type, End-Use, Materials, Propulsion, and Region.

Segmentation based on Aircraft Type

Ultra-light Aircraft
Light Aircraft
Segmentation based on End-Use

Civil & Commercial
Military
Segmentation based on Materials

Aluminum
Composites
Others
Segmentation based on Propulsion

Electric/Hybrid
Conventional Fuel
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America