Evolution of Innovation in Business Aviation: Charting a Course for Sustainable Growth

Abstract

Innovation is the key to success for companies in many industries. In a competitive market with evolving trends and challenging operational contexts, being able to innovate not only allows one to gain temporal competitive advantage but is also crucial for the survival of companies and therefore for the industry they are part of. Private Aviation is a microcosm within the aviation industry. It has developed itself on its own for the last 60 years. Companies and manufacturers have kept innovating in order to offer exclusive products and technologies to their niche customers. Yet, in a constantly evolving society, new trends and patterns have emerged. Our societies have started to rethink how we live, how we consume, how we travel, how we fly. Concerns regarding the climate crisis have placed industries like the private aviation industry at the center of debates and polemics regarding the largely inefficient and irresponsible model of private aviation. Despite its smaller size compared to the whole aviation industry let alone the whole transportation industry, the carbon emission ratios per passenger of private aviation are way above the rest of the industry with numbers often as high as ten times the numbers of commercial aviation. It is therefore for that reason that private aviation is now rethinking how it operates. The entire model is being rebuilt and re-engineered to a more sustainable one. After half a century of “isolation”, operating with its own, model, regulation, technologies, and clients, private aviation is now joining forces with the rest of the industry. The common goal is to reach carbon neutrality by 2050. But how? The purpose of this study will therefore be to understand the past and present trends of private aviation. As an industry that was shaped by innovation, we discovered how private aviation is now aligning itself with the notions of sustainable development, enhancing its social responsibility, rethinking its business model, developing innovative technologies, and putting a lot more emphasis on the environment at every aspect of its operations. The study wasn’t able to conclude whether or not private aviation or even aviation as a whole will succeed in its current rush toward sustainability and carbon neutrality by 2050. However, the study will enable the reader to gain a better understanding and relevant insights of the current trends in private aviation and how the market is evolving. The study has relevance in the conduct of a market study as well as notable managerial implications.