ID: MRFR/A&D/7043-HCR | February 2021 | Region: Global | 168 pages
Market Scenario
Supersonic Jet Market is projected to grow at a CAGR of 5.82% between 2019 and 2035. A supersonic jet can fly faster than the speed of sound (Mach 1). There are various companies such as Boeing (US) venturing into the supersonic jet market with an aim to offer enhanced traveling experience to passengers and reduce the traveling time. For example, in February 2019, Boeing collaborated with Aerion Corporation (US) where Boeing will provide manufacturing, engineering, and flight-testing services for Aerion Corporation’s supersonic business jet.
Market Synopsis
The global supersonic jet is gaining popularity due to increasing air passenger traffic and the growing demand for faster traveling. Additionally, technological advancements are also expected to drive the growth of the market. The evolution of lightweight aerodynamics and composites is also expected to drive market growth. However, there are certain drawbacks that might hamper the growth of the market. Excessive noise generation, design complexity, and higher fuel consumption, and increased cost per seat are some of the factors that might slow down market growth.
Market USP
The growing need to reduce travel time is expected to drive the market growth
Market Drivers
Market Restraints
Segmentation
By Type
By Application
By Region
Key Players
Frequently Asked Questions (FAQ) :
Boeing (U.S.), Lockheed Martin Corporation (U.S.), Airbus SAS (France), and Aerion Corporation (U.S.) are stimulating the market.
A CAGR of 5.82% is anticipated to direct the market’s expansion in the forecast period.
The region of North America is seen taking charge of the market in the forecast period.
The market stands to gain a lucrative income base in the forecast period.
The need to gain a heightened traveling experience to passengers is likely to inspire the global market.