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Need for Greater Speed to Boost the Global Supersonic Business Jet Market Through 2020, Says TechnavioAccording to their latest report, Technavio analysts expect the global supersonic business jet market to reach approximately USD 3 billion by 2020, growing at a CAGR of over around 4%. According to Abhay Singh, a lead analyst at Technavio for aerospace components research, "The global supersonic business jet market is expected to grow in developed regions like the Americas (the US and Canada), Europe (France, Germany, and the UK), and the Middle East due to their growing economy. Emerging regions like China, India, Brazil, and Africa will also contribute to the market during the forecast period." Technavio's lead aerospace and defense market research analysts have identified the following three factors that will drive the global supersonic business jet market:
Evolution of lightweight composites and aerodynamics With time, aircraft designs have evolved their avionics, systems, and engines to provide greater efficiency and dynamic performance. Supersonic manufacturers are using thin fuselages, rear-mounted engines, and study nozzles to reduce the drag, which would reduce noise levels. They are also implementing low-drag wing design, which will allow supersonic jets to fly at a subsonic speed over land and at a speed of Mach 1.6 over the sea. Polymers like polyphenylene sulfide (PPS), polyetherimide (PEI), and polyetheretherketone (PEEK) are used in airframe structures for achieving critical properties and high-temperature appications such as military, aero engines, and supersonic business jet programs. They also reduce aero frictional heating and are profitable for manufacturers. Alliance with major vendors New centers such as China, Brazil, India, and South Korea have undertaken long-term contracts with leading OEMs for their aerospace and defense industry. "Transfer of technology, best practices, and an increase in relationships with prime contractors are driving new agreements, mergers, and acquisitions in the market," says Abhay. Boeing (News - Alert) and Airbus, the top vendors in the market, involve suppliers around the globe to create complex design and integration for their new aircraft. Similarly, joint ventures would also benefit the supersonic business jet market due to increasing demand from passengers, profitability on routes, and technological improvements. Lockheed Martin (News - Alert) and NASA have also collaborated on a supersonic jet design, with two engines under the wing in a conventional configuration and one additional centerline engine above the wing. Need for greater speed Aerion's newly developed supersonic jet will fly between Mach 1.4-1.6, which is almost twice the speed of the fastest commercial jets. Therefore, a flight from London to New York would take around three and half hours, as compared to commercial jets which normally take about eight hours. Modern commercial jets typically cruise at a speed of 480- 560 miles per hour. Business travelers, corporate executives, and entrepreneurs look for faster flights. Therefore, private aviation carriers have introduced SBJ such as Aerion SBJ, Aerion AS2, HyperMach SonicStar, SAI (News - Alert) Quiet Supersonic Transport, Spike S-512, Sukhoi-Gulfstream S-21, and Tupolev Tu-444, which reduce the travel time by half, as compared to subsonic business jets. Browse Related Reports:
Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio's reports allows you to download any three reports per month for the price of one. Contact [email protected] with your requirements and a link to our subscription platform. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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