Global Passenger Chartered Air Transport Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

4 Oct, 2021

The passenger-chartered air transport services market consists of sales of passenger-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 at a toll per mile or per hour for the charter of the aircraft. Only goods and services traded between entities or sold to end consumers are included.

Global Passenger Chartered Air Transport Market Size And Drivers:

The global passenger-chartered air transport market is expected to grow from $31.82 billion in 2020 to $33.57 billion in 2021 at a compound annual growth rate (CAGR) of 5.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $39.84 billion in 2025 at a CAGR of 4.4%. The increasing preference for private charters by ultra-high net worth individuals (UHNWI) is expected to drive the global passenger-chartered air transport market.

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Trends In The Global Passenger Chartered Air Transport Market

A custom luxury vacation tour by chartered jets is a major trend gaining popularity in the global passenger-chartered air transport services market. People are prioritizing travel, adventures, and unique experiences and private chartered jet services are offering customized tours for a group of travelers for the round-the-world tours as well. For instance, Abercrombie & Kent (A&K), a luxury travel company, provides round-the-world tours on all-first-class airliners is now offering personalized tours through bizjet for up to 16 passengers.

Global Passenger Chartered Air Transport Market Segments:
The global passenger-chartered air transport market is further segmented –
By Type: Private Charter Services, Business Charter Services
By Size: Light Jets, Mid-Sized Jets, Large Jets, Air Liner
By Capacity: Less Than 10, 10-100, Greater Than 100
By Geography: The global passenger-chartered air transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Passenger Chartered Air Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides passenger chartered air transport market overviews, analyzes and forecasts market size and growth for the global passenger chartered air transport market, passenger chartered air transport market share, passenger chartered air transport market players, passenger chartered air transport market segments and geographies, passenger chartered air transport market’s leading competitors’ revenues, profiles and market shares. The passenger chartered air transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.