Air Charter Services Market

Market Definition:

The Air Charter Services Market size was valued at USD 31.39 billion in 2021, and is predicted to reach USD 43.43 billion by 2030, with a CAGR of 4.8% from 2022 to 2030. Air charter service is a business that includes renting an entire aircraft to any individual or organization. A person can rent an entire aircraft and decide the departure/arrival locations as per the requirements.

Moreover, the seats in the aircrafts can be sold by tour operators as a part of travel package or individually through any charter company. In addition, these charter planes provide various benefits to customers by allowing them to customize their itinerary and cuisine as well as choose departure and arrival terminals that are closest to their location.

Market Dynamics and Trends:

The demand for air charter services is increasing due to continuous expansion in e-commerce retail and express delivery services which are highly dependent on-air services along with increased use of private planes by customers for comfort and convenience which is further expected to propel the growth of the market during the forecast period.

For instance, in October 2021, Gulf Air launched private charter services under the Boutique Charters, allowing its clients to book private charter flights with personalized itineraries. The new service is available for government and corporate delegates, group travel, destination weddings, private family holidays as well as private cargo consignments. This service will be available on various types of aircraft such as Airbus A320neo or A321neoLR, or on wide body fleet, the airline’s flagship Boeing 787-9 Dreamliner.

However, shortage of skilled pilots, limited aviation infrastructure, and volatility in aviation fuel prices are expected to restrain the growth of market during the forecast period. On the other hand, increasing preference of elite class people for opting the charter jets for their convenience is expected to create lucrative opportunities for air charter services in the upcoming years.

Market Segmentations and Scope of the Study:

The global air charter services market is segmented based on type, application, and geography. Based on the type, the market is classified into business charter services and private charter services. Based on application, the market is bifurcated into charter passengers and charter freights. The geographic breakdown and analysis of each of the aforesaid segments includes regions such as North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North America holds the lion share of global air charter services market, and is expected to continue its dominance during the forecast period as well. This is attributed to factors such as increasing customer preference for luxury travelling along with diversified requirements of people regarding personalized travel experiences, which in turn is expected to propel the air charter services market growth during the forecast period. Moreover, presence of key players such as Delta Private Jets, NetJets IP LLC, and XO Global LLC are anticipated to propel the growth of the air charter services market in this region in the upcoming years.

On the other hand, Asia-Pacific is expected to show a steady rise in the air charter services market, due to increasing elite class population growth which in turn increases the demand of air transport. Also, increased awareness regarding air charter services and several programs launched by jet owners to provide low-cost air transportation to the customers further attract customers to opt for air charter services in this region and is further expected to boost the growth of the market in this region.

Moreover, in developed countries such as Japan and China, there are large numbers of business class people and wealthy individuals that prefer charter aircrafts for travelling. This factor is expected to drive the demand in this region. In addition, the presence of key players such as Deer Jet, Club One Air, and Australian Corporate Jet Centers is further anticipated to propel the demand of air charter services market in this region in the upcoming years.

Competitive Landscape:

Various market players operating in the global air charter services market include Vista Jet, Luxaviation, Jet Aviation, Air Partner, TMC Jets, Delta Private Jets, Deer Jet, Corporate Flight Management, Gama Aviation, and Dassault Aviation.

These manufacturers are taking R&D initiatives, launching new products, and forming partnerships to enhance their product offerings and increase their growth & geographical reach.

For instance, in March 2022, Air Partner, the leading global aviation services group, launched an exclusive package in celebration of Platinum Jubilee with Rosewood London. The package includes luxurious accommodations in the spacious Grand Premier suite or executive king room at Rosewood London, one of the UK's finest hotels. It also includes deluxe in-flight experience, and festive arrangements available from champagne.

Also, in May 2021, Dassault Aviation launched Falcon 10x. It features the largest cabin and most advanced technology on a business jet. This aircraft features a range of 7,500 nautical miles and will fly nonstop from New York to Shanghai, Los Angeles to Sydney, Hong Kong to New York or Paris to Santiago.

Key Benefits

• The air charter services market report provides the quantitative analysis of the current market and estimations from 2022 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises of an extensive analysis of the air charter services market trends including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints and opportunities and their impact on the air charter services market is provided in the report.

• The competitive analysis of the market players along with their market share in the air charter services market is mentioned.

• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.

• The value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Key Market Segments:

By Type

• Business Charter Services

• Private Charter Services

By Application

• Charter Passenger

• Charter Freight

By Geography

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Rest of Asia-Pacific

• RoW

  • UAE

  • Saudi Arabia

  • South Africa

  • Brazil

  • Remaining countries

Key Players

• Vista Jet

• Luxaviation

• Jet Aviation

• Air Partner

• TMC Jets

• Delta Private Jets

• Deer Jet

• Corporate Flight Management

• Gama Aviation

• Dassault Aviation

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Analysis Period	2021–2030
Base Year Considered	2021
Forecast Period	2022–2030
Market Size Estimation	Billion (USD)
Market Segmentation	By Type (Business Charter Services and Private Charter Services) and by Application (Charter Passenger and Charter Freight)
Geographical Segmentation	North America (U.S., Canada, Mexico) Europe (U.K., Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific), Rest of the World (UAE, Saudi Arabia, South Africa, Brazil, Remaining countries)
Companies Profiled	Vista Jet, Luxaviation, Jet Aviation, Air Partner, TMC Jets, Delta Private Jets, Deer Jet, Corporate Flight Management, Gama Aviation, and Dassault Aviation.