Depending on the passengers' destination, the overall journey time could then be shorter with a slower aircraft. Generally, jets tend to have a taller passenger cabin and more advanced avionics, which may be advantageous in terms of safety, comfort and resilience to extreme weather conditions. A company may also wish to project its status through the type of aircraft in which its personnel travel.
Almost all production business jets, such as Grumman Aerospace's famous 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 efficiency 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.
Surplus 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 airliners often face operational restrictions based on runway length or local noise restrictions.
Since 1996 the term "fractional ownership" has been used in connection with business aircraft owned by a consortium of companies. Costly overheads such as flight crew, hangarage and maintenance can be shared through such arrangements.
There are approximately 11,000 business jets in the wordwide fleet with the vast majority of them based in the United States or owned by US companies. The European market is the next largest, with growing activity in Asia and Central America. There is an active pre-owned marketplace in which aircraft are bought and sold based on their immediate deliverability because new aircraft orders often take two to three years for delivery.