By Juliet Van Wagenen | May 9, 2016
|Aerion AS2 supersonic jet. Photo: Aerion|
[Avionics Today 05-09-2016] The global supersonic business jet market will reach approximately $3 billion by 2020, growing at a Compound Annual Growth Rate (CAGR) of more than 4 percent, according to the latest report by analyst firm Technavio. The report has identified the evolution of lightweight composites and aerodynamics, alliance with major vendors, and a greater need for speed as the factors that will drive the global supersonic business jet market.
“The global supersonic business jet market is expected to grow in developed regions like the Americas (the U.S. and Canada), Europe (France, Germany, and the U.K.), 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,” said Abhay Singh, a lead analyst at Technavio for aerospace components research.