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Business jet, private jet, bizjet, or simply B.J., is a jet aircraft designed for private personal use. Business jets may be adapted for other roles, such as the evacuation of casualties or express parcel deliveries, and some are used by public bodies, government officials or the armed forces. The more formal terms of corporate jet, executive jet, VIP transport or business jet tend to be used by the firms that build, sell, buy and charter these aircraft.
In fact the "business jets" are "flying travel trailers", mixed with flying office. For example some of the CEOs, spend half of the year travelling. In modern world there is huge demand for it, and they range from smaller Gulfstreams to even big flying palaces like modernized A380. 
Almost all production business jets, such as General Dynamics' Gulfstream and the Gates Lear Jet (now built by Bombardier), have had two or three engines, though the Jetstar, an early business jet, had four. Advances in engine reliability and power have rendered four-engine designs obsolete, and only Dassault Aviation still builds three-engine models (in the Falcon line). The emerging market for so-called "very light jets" and "personal jets", has seen the introduction (at least on paper) of several single-engine designs as well.
Almost all business jets have rear-mounted engines, because the wing (mounted low for performance reasons) is too near the ground for engines to be slung underneath it.
Airliners are sometimes converted into luxury business jets. Such converted aircraft are often used by celebrities with a large entourage or press corps, or by sports teams, but such airplanes often face operational restrictions based on runway length or local noise restrictions.
A focus of development is at the low end of the market with small models, many far cheaper than existing business jets. Many of these fall into the very light jet (VLJ) category and are used by the air taxi industry. Cessna has developed the Mustang, a six-place twinjet (2 crew + 4 passengers) available for $2.55 million USD. A number of smaller manufacturers have planned even cheaper jets; the first was the Eclipse 500 from Eclipse Aviation (now Eclipse Aerospace) which was originally available at around 1.5 million USD. It remains to be seen whether the new jet manufacturers will complete their designs, or find the market required to sell their jets at the low prices planned.
There are 17,721 business jets in the worldwide fleet at the end of 2011 with about 70% of the fleet in North America. The European market is the next largest, with growing activity in the Middle East, Asia, and Central America.
Since 1996 the term "fractional jet" has been used in connection with business aircraft owned by a consortium of companies. Under such arrangements, overhead costs such as flight crew, hangarage and maintenance are split among the users.
Because of their low-volume productions and long lead times, new aircraft orders can take two to three years for delivery. This causes many buyers to consider used aircraft, to attain shorter delivery times; as a result the market for used business jets is significant and active.
The business jet industry groups these jets into five loosely-defined classes:
Heavy jets 
This is the most expensive type of private jet, as it provides the greatest space and capabilities. These aircraft, sometimes referred to as Bizliners (contraction of Business Airliners), are based on or converted from airliner types. Aircraft of this class include:
Large-Cabin jets 
- Bombardier Aerospace
Super mid-size jets 
Super mid-size jets feature wide-body cabin space, high-altitude capability, speed, and ultra-long range. These jets combine transatlantic capability with the speed and comfort of a wide-body, high-altitude aircraft. Aircraft of this class include:
Mid-size jets 
These aircraft are suitable for longer-range travel such as transcontinental flights and for travel with larger passenger capacity requirements. Aircraft of this class include:
Light jets 
Light jets have been a staple of the business jet industry since the advent of the Learjet 23 in the early 1960s. They provide access to small airports and the speed to be an effective air travel tool. Aircraft of this class include:
Very light jets 
Very light jets, also known as Microjets or VLJs, are designed to provide air travel, for example, to the more than 5,000 small community airports in the United States. VLJs are defined in the industry as having a maximum takeoff weight of not more than 10,000 pounds. Aircraft of this class include:
There are three basic types of operators who own, manage and operate private jets.
Flight Departments 
Flight departments are corporate-owned operators who manage the aircraft of a specific company. Ford Motor Company, Chrysler, and Altria are examples of companies that own, maintain and operate their own fleet of private aircraft for their employees. Flight Departments handle all aspects of aircraft operation and maintenance. In the United States, flight-department aircraft operate under FAR 91 operating rules.
Charter Companies 
Charter operators own or manage private jets for multiple clients. Like traditional flight departments, charter companies handle all aspects of aircraft operation and maintenance. However, they are not aligned with just one corporation. They manage aircraft for a private owner or corporation and also handle the sales of available flight time on the aircraft they own or manage. In the United States, charters may be operated under FAR 91 with certain restrictions, but more often use FAR 135 operating rules.
Fractional Ownership 
Fractional ownership, often called "time share", involves an individual or corporation who pays an upfront equity share for the cost of an aircraft. If four parties are involved, a partner would pay 1/4 of the aircraft price (a "quarter share"). That partner is now an equity owner in that aircraft and can sell the equity position if necessary. This entitles the new owner to 100 hours of flight time on that aircraft, or any comparable aircraft in the fleet. Additional fees include monthly management fees and incidentals such as catering and ground transportation. In the United States, fractional-ownership operations may be regulated by either FAA part 91 or part 135.
See also 
- List of very light jets
- Very light jet
- Air Taxi Association
- Air transports of heads of state and government
- Supersonic business jet
- "2012 Report". Corporate Jet Investor.
- Trautvetter, Chad (June 2010). "Airbus Sees Great Promise for Bizliner Orders in China". Retrieved 19 July 2010.
- Global Security, "Very Light Jet"
Media related to Business jets at Wikimedia Commons