This is the cheapest private jet in the world - and it's a true game changer

The Airbus A380 superjumbo may be the next big thing in private jets, but the tiny Cirrus Vision Jet is the next true game changer. At $1.96 million, the diminutive Cirrus represents the most affordable private jet on sale today. In fact, it's roughly half the price of its nearest jet-powered competitor.

For Cirrus, the Vision Jet has been 10 years in the making, the company's vice president of marketing and communications, Ben Kowalski, told Business Insider. The production model of the Vision Jet made its first flight in May of 2016. A few months later, the aircraft received FAA certification. The company is now ramping up production and customer deliveries.

According to Kowalski, the Vision Jet's target markets are private owners and regional commercial air services.

In addition, Cirrus believes the Vision Jet is a natural progression up for current owners of the company's popular lineup of high-performance piston engine aircraft.

Here's a closer look at the Cirrus Vision Jet.