The Air Charter Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Air Charter Services Global Market Report 2024, The air charter services market size has grown strongly in recent years. It will grow from $29.65 billion in 2023 to $31.39 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to corporate travel demands and executive transportation needs, growth of the business aviation sector, globalization and expansion of international trade, high-profile events and sports charters, rise of private and luxury travel preferences
The air charter services market size is expected to see strong growth in the next few years. It will grow to $38.17 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to evolution of aircraft technology and range, increasing congestion at major airports, development of air charter regulations and safety standards, emergency response and medical evacuation services, military and government demand for air charter services, growing importance of time efficiency in business travel, expansion of air taxi and urban air mobility services. Major trends in the forecast period include technological advancements in supersonic and electric aircraft, integration of blockchain technology in charter booking platforms, collaboration between air charter companies and travel tech firms, integration of artificial intelligence in flight planning and operations, sustainable aviation fuels in charter fleets
The growing demand for cargo charters is expected to propel the growth of the air charter services market going forward. Cargo charters refer to cargo carriers that land at the airport less than fourteen times in any given calendar year and are not scheduled to serve the airport. Air cargo charters transport specialized cargo, such as hazardous materials or oversized cargo, which may not be suitable for traditional air cargo services and provide fast and efficient transportation of goods, even to remote areas that may be difficult to reach by other means of transportation. For instance, according to the International Air Transport Association (IATA), a Canada-based trade association, in 2021, aviation cargo volumes increased by 18.7% yearly, and available cargo ton-kilometers (ACTKs) increased by 13.8%. Therefore, the growing demand for cargo charters is driving the growth of the air charter services market.
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The air charter services market covered in this report is segmented –
1) By Type: Business Charter Services, Private Charter Services
2) By Aircraft Type: Private Jets, Helicopters, Turbo-props, Wide-Body Aircraft
3) By Application: Charter Passenger, Charter Freight
4) By End-User: Business Travelers, Leisure Travelers, Government And Diplomatic Entities, Sports Teams And Entertainment Industry
Product innovation has emerged as a key trend gaining popularity in the air charter services market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in October 2022, Air Charter Services, a UK-based air charter company, launched a dedicated time-critical division to consolidate its various services for urgent shipment requests. Several current services are combined under the new air charter services time-critical sub-brand to offer multiple services and a complete door-to-door solution. The new air charter service (ACS) critical time offers integrated trucking solutions, go-now cargo airplane charters with the onboard courier (OBC), and next-flight-out alternatives.
The air charter services market report table of contents includes:
1. Executive Summary
2. Air Charter Services Market Characteristics
3. Air Charter Services Market Trends And Strategies
4. Air Charter Services Market – Macro Economic Scenario
5. Global Air Charter Services Market Size and Growth
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26. South America Air Charter Services Market
27. Brazil Air Charter Services Market
28. Middle East Air Charter Services Market
29. Africa Air Charter Services Market
30. Air Charter Services Market Competitive Landscape And Company Profiles
Top Major Players:
- Jet Inc
- NetJets Inc
- VistaJet Group Holding Ltd
- Jet Aviation AG
- Wheels Up Partners LLC
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