Chartered Air Transport Global Market Sees Growth Rate Of 10% Through 2022
22 Jun, 2022
The global chartered air transport market size is expected to grow from $71.67 billion in 2021 to $78.70 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The chartered air transport services market is then expected to grow to $109.44 billion in 2026 at a CAGR of 8.6%.
What is the Global Chartered Air Transport Market?
The chartered air transport services market consists of sales of chartered air transportation services and related goods by entities (organizations, sole traders, and partnerships) that use aircraft, such as airplanes and helicopters, to provide chartered (non-scheduled) air transportation services for passengers and/or cargo at a toll per mile or hour for the charter of the aircraft.
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What drives the Global Chartered Air Transport Market?
Technology is expected to be a continued driver of the chartered air transportation services market 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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Global Chartered Air Transport Market Segments
The global chartered air transport market is segmented:
By Type: Passenger Chartered Air Transport, Freight Chartered Air Transport, Others
By Application: Private Charter, Affinity, Single Entity, Public Charter
By End-Use: Wealthy Individuals, Sports Teams, Large Corporations
By Geography: The regions covered in the chartered air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Chartered Air Transport Global Market Report 2022provides market size and growth forecasts for the global chartered air transport market, global chartered air transport market share, chartered air transport market segments and geographies, chartered air transport market competitive landscape including leading competitors’ revenues, profiles and market shares. The chartered air transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Chartered Air Transport Industry Playersinclude Atlas Air Worldwide Holdings, TUI Airways, NetJets, Garuda Indonesia, Air Transport Services Group, Jet edge International, Air Partner, Gama Aviation, and Thai Airways International Public Co. Ltd. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.