Definition of Cycle Time:
The total time from the beginning to the end of your process, as defined by you and your customer. Cycle time includes process time, during which a unit is acted upon to bring it closer to an output, and delay time, during which a unit of work is spent waiting to take the next action.
In a nutshell, cycle time is the total elapsed time to move a unit of work from the beginning to the end of a physical process.
(Note, cycle time is not the same as lead time).