The chartered air transport market has experienced substantial growth, increasing from $87.99 billion in 2023 to $95.66 billion in 2024, showcasing a compound annual growth rate (CAGR) of 8.7%. This growth in the historic period is attributed to corporate travel demand, luxury travel and tourism, emergency and medical evacuations, military and government contracts, and remote access and exploration. Looking forward to 2028, the market is expected to continue its strong growth, reaching $131.14 billion with a CAGR of 8.2%. This anticipated growth is linked to private aviation membership programs, flexible travel schedules, destination events, security and privacy concerns, and personalized in-flight services. Key trends during the forecast period include ultra-long-range business jets, technology integration for efficiency, flexible booking and pricing models, integration of supersonic jets, and partnerships and alliances within the industry.
Major Driver In The Chartered Air Transport Market
Technology is expected to be a continued driver of the chartered air transportation services market's growth during the forecast period. Sectors such as transportation services will benefit from the greater efficiencies offered by technological advances. Technologies such as aircraft telematics relay engine information via satellite to manufacturers and maintenance teams on the ground to minimize time on the tarmac, reducing flight turnaround times and increasing the efficiencies of airlines. Several technologies such as big data, machine learning, and predictive analytics are also being used to increase efficiencies and align business strategies. Big data uses a combination of real-time information, historical trends, and clever algorithms to translate car speeds, weather conditions, and sources of acceleration and deceleration for road operators. Adoption of technology will drive the chartered air transportation services market going forward.
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Chartered Air Transport Market Competitive Landscape
Lufthansa Private Jet, Emirates, Air Canada, Cathay Pacific Airways Ltd., Atlas Air Worldwide Holdings, NetJets Inc., Allegiant Travel Company, Garuda Indonesia, Air Transport Services Group, FLEXJET LLC, Thai Airways International Public Co. Ltd., Jet Aviation Inc., Sentient Jet, Solairus Aviation, Gama Aviation, Jet Linx Aviation, Executive Jet Management Inc., Jet edge International, Air Partner Plc, Silver Air Private Jets, Fly Victor Limited, TUI Airways Limited, JetSuite Inc., Global Jet, Star Jets International, Stratos Jet Charters, Air Charter Service, Delta Private Jets Inc., PrivateFly, Qatar Executive, Swiss International Air Lines, United Airlines Inc., VistaJet, XOJET Aviation
Chartered Air Transport Market Segmentation
The chartered air transport market covered in this report is segmented –
1) By Type: Passenger Chartered Air Transport, Freight Chartered Air Transport, Other Chartered Air Transport
2) By Application: Private Charter, Affinity, Single Entity, Public Charter
3) By End Use: Wealthy Individuals, Sports Teams, Large Corportations
By Geography:The regions covered in the chartered air transport market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
North America was the largest region in the chartered air transport services market in 2023.
The Chartered Air Transport Global Market Report 2024 furnishes information about the global chartered air transport market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
