Overview and Scope
Passenger chartered air transport service refers to a mode of transportation for people that uses aircraft, such as planes and helicopters, to provide air transportation services for passengers, including non-scheduled(non-scheduled) air carriers, to facilitate fast travel with improved security and to be used in emergency operations.
Sizing and Forecast
The passenger chartered air transport market size has grown strongly in recent years. It will grow from $54.05 billion in 2023 to $58.05 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to corporate travel demand, luxury and premium travel, event and entertainment industry, time efficiency and flexibility, group travel and special occasions.
The passenger chartered air transport market size is expected to see strong growth in the next few years. It will grow to $74.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to corporate events and incentive travel, personalized travel experiences, rise of high-net-worth individuals, increased awareness and marketing, global events and expositions. Major trends in the forecast period include corporate and business charter services, customizable travel packages, environmental sustainability initiatives, partnerships with luxury service providers, health and wellness-focused amenities.
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Segmentation & Regional Insights
The passenger chartered air transport market covered in this report is segmented –
1) By Type: Private Charter Services, Business Charter Services
2) By Size: Light Jets, Mid Sized Jets, Large Jets, Air Liner
3) By Capacity: Less than 10, 10-100, Greater than 100
North America was the largest region in the passenger chartered air transport market in 2023. Asia-Pacific was the second largest region in the global passenger chartered air transport market share. The regions covered in the passenger chartered air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing preference for private charters by ultra-high net worth individuals (UHNWI) is expected to drive the global passenger-chartered air transport market. Most UHNWI are inclined towards private charters rather than owning jets. In the Asia-Pacific, Australia leads the market with 57 charter jets for 27 billionaires, followed by Singapore, which has 30 charter jets for 28 billionaires. The prevalence of COVID-19 has also supported the growth of the market as the individual’â„¢s travelling had to maintain social distance and the UHNWIs were looking for safe and customised travel options. The growing preference for private charters has contributed to the growth of the passenger-chartered air transport market.
Key Industry Players
Major companies operating in the passenger chartered air transport market report are Air Partner PLC, Delta Private Jets Inc., Jet Aviation AG, NetJets Aviation Inc., Flexjet LLC, Clay Lacy Aviation, Wheels Up Experience Inc., VistaJet Group Holding Ltd., Luxaviation Group, Travel Management Company Jets, Asia Jet Partners Ltd., Solairus Aviation, XO Global LLC, TAG Aviation, FlyExclusive, Jet Linx Aviation, Gama Aviation PLC, Executive Jet Management, Air Charter Service Group Ltd., Contour Aviation, GlobeAir AG, PrivateFly, ASIAN SKY GROUP, Deer Jet Co Ltd., Premiair Aviation Maintenance Pty. Ltd., Indamer Mjet Airport Private Limited, LÃder Aviation, ZYB LILY JET, Asian Aerospace, Swift Air LLC, JetSuite, SmartJets LLC, Fly Victor, Jettly Inc.
The passenger chartered air transport market report table of contents includes:
1. Executive Summary
2. Passenger Chartered Air Transport Market Characteristics
3. Passenger Chartered Air Transport Market Trends And Strategies
4. Passenger Chartered Air Transport Market – Macro Economic Scenario
5. Global Passenger Chartered Air Transport Market Size and Growth
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31. Passenger Chartered Air Transport Market Other Major And Innovative Companies
32. Global Passenger Chartered Air Transport Market Competitive Benchmarking
33. Global Passenger Chartered Air Transport Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Passenger Chartered Air Transport Market
35. Passenger Chartered Air Transport Market Future Outlook and Potential Analysis
36.Appendix
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