Private Jet Charter Market Scope
Private parties book these charters, which are commonly referred to as a private jet or private jet charter. By definition, a private charter is just that: private. This means that the entire aircraft is rented (chartered), and individual seats are not available for purchase by third parties. Aside from FAA disclosures, the flight details are also kept private. Private jet flights can range from interstate to intercontinental, with passenger sizes ranging from a few to more than 100. (Depending on the jet). Regulations require that the entire flight be chartered by a single entity or person, though passengers may choose to split the bill among themselves.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Sentient Jet (United States), Wheels Up (United States), VistaJet (Malta), Verijet (United States), Flexjet (United States), Tradewind Aviation, LLC (United States), NetJets (United States), GLOBEAIR (Austria), MAGELLAN JETS (United States) and JETTLY (Canada) |
CAGR | % |
There have been constraints on the supply chain due to the pandemic but as the travel restriction have been removed there has been further growth in the market. Qualified technicians have been a shortage but rising international relations between companies and growing individual spending capacities in developing countries have brought more business into the market. Technology has been developed and many new players with new concepts have been entering the market. While the key players and market leaders have been trying mergers and acquisitions to strengthen their position in the market. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Private Jet Charter market throughout the predicted period.
Sentient Jet (United States), Wheels Up (United States), VistaJet (Malta), Verijet (United States), Flexjet (United States), Tradewind Aviation, LLC (United States), NetJets (United States), GLOBEAIR (Austria), MAGELLAN JETS (United States) and JETTLY (Canada) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are JETSUITE (United States), VICTOR (Taiwan) and OXYGEN AVIATION LIMITED (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Private Jet Charter market by Type , by Application (Commercial, Leisure and Others) and Region with country level break-up.
On the basis of geography, the market of Private Jet Charter has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In May 2022 Vista acquires AIR HAMBURG AIR HAMBURG has become one of the most well-established full-service private aviation companies, flying to over 1,000 destinations in Europe alone. It is the largest private jet operator by a number of flights across Europe, organizing over 18,800 flights for its clients in 2021, and it is second only to Vista in terms of hours flown, recording over 35,000 hours in 2021. As a result, Vista expects an increase of around 30% in-flight hours (on a combined basis) globally following the completion of the transaction.
In June 2022 Sentient Jet, inventor of the private jet card and an industry pioneer, announces the company’s newest digital innovation: automated text-to-book, further simplifying the digital transaction process and providing its card owners a more thoughtful way to fly. With this digital advancement, card owners have to quote and book capabilities via text, alleviating the need for human contact entirely. With user-authenticated, automated, Artificial Intelligence-like interaction, internal and external users can quote and book a flight in less than 60 seconds.
Private jet charters do fall under a particular set of regulations. In the United States, they operate under Federal Air Regulation (FAR) Part 135
Influencing Trend:
Growing Net Worth of Individuals and Growing Number of Business Man and Celebrities Have Been Contributing to Market Growth.
Market Growth Drivers:
The Growing International Business and Trade Relations Between Companies Have Been Driving the Market.
Challenges:
Hiring Qualified Mechanics and Technicians and Providing Life Time Benefits to Employees While there are Supply Chain Constraints.
Restraints:
Government Regulations Make the Approval Period Lengthy for Product Certification.
Opportunities:
Private Jets Have Been Introducing New Programs which will be Bringing Opportunities for this Market.
Key Target Audience
Aviation companies, New Entrants and Investors, Legalized Cannabis Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others