Global Air Charter Services Market 2023-2030

Global Air Charter Services Market 2023-2030

Global Air charter services Market Size, Share & Trends Analysis Report by Type (Business Charter Services and Private Charter Services), and by Application (Charter Passenger, Charter Freight, and Others), Forecast Period (2023-2030)

The global air charter services market is anticipated to grow at a CAGR of 5.4% during the forecast period (2023-2030). Air charter services is a service that offer helicopters, private jets and executive airliner charters, as well as a huge range of small specialist aircraft for all business and leisure purposes. The growing traffic on online booking websites for charted air planes such as PrivateFly, JetSetGo, and BookMyCharters have changed the whole scenario of private jet booking, making it as easy and simple. These online platforms allow customers to book a private jet quickly and in an easy way by just selecting or entering a few details about the journey, such as the departure and arrival location and time, the date of the journey, and the number of passengers. Hence, the market players are also focusing on introducing online air Charter booking Services solutions which will further bolster the market growth. For instance, in December 2022, EaseMyTrip acquired Nutana Aviation to enter and grow in air charter service Market. The acquisition will mark EaseMyTrip’s enter into the growing air charter services market in India and abroad.

Segmental Outlook

The global air charter services market is segmented on type and application. Based on the type, the market is sub-segmented into business charter services and private charter services. Based on the application, the market is sub-segmented into charter passenger and charter freight, and others which includes unscheduled itineraries. Among the application, the charter freight sub-segment is anticipated to hold a considerable share of the market owing to the rise in demand for premium freight services after pandemic. Charter freight services are frequently being used by key corporate influentials and football teams.

The Charter Passenger Sub-Segment is Anticipated to Hold a Considerable Share of the Global Air charter services Market

Among the type, the charter passenger sub-segment is expected to hold a considerable share of the global air charter service market. The segmental growth is attributed to the increasing per capita income and demand for private jet services. Thus, the market players are focusing on launching or establishing several private jet clubs to cater to the demand. For instance, in June 2023, Private Jet Club, the private jet broker and membership club, launched a new, by-the-seat service that allows customers to book individual seats on a private jet, without the requirement of booking an entire flight. Such developments by air charter service players is fueling the demand for private jet service market.

Regional Outlook

The global air charter services market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, the European regional market is anticipated to hold a prominent share of the market across the globe, owing to the high concentration of e-commerce players and the market service providers including Air charter service pvt. Ltd, Globalair, Net jets, air partner and others.

Global Air charter services Market Growth by Region 2023-2030

Source: OMR Analysis

North America is expected to grow at a Significant CAGR in the Global Air charter services Market

Among all the regions, North America is anticipated to grow at a considerable CAGR over the forecast period. The regional market growth is attributed to the economic developments and technological enhancements such as online platforms for flight booking. Countries including US and Canada are the most popular countries across the globe making it countries with the highest private jet population. Through online Air charter services with easy and simple method of booking a flight online the people using private jet service is increasing. According Business Airport International study published in August 2022, there are 14,632 private jets in the US, around 62.5% of the global fleet. Among private jets in the US, 37.5% are categorized as heavy or long-range, 36.5% as light, 20.5% as midsize and 5.5% as very light jets.

Another factor bolstering the market growth in the region includes the growing adoption of various strategic initiatives by the key market players with strong presence in the region such as partnership, merger, and acquisition. For instance, in January 2021, Gama Aviation acquired Jet Eas to increase revenue as well as market share of the company, this acquisition result in increase in sales and revenue of the company for an instance company record 33.0% growth in the overall revenue after the acquisition.

Market Players Outlook

The major companies serving the air charter services market include Air Charter Service group Pvt. Ltd., Air Partner Ltd., Gama aviation PLC, NetJetsand IP LLC, Honeywell International Inc and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2023, Air Planning and Northern Pacific Airways partnered as air charter services with an aim to cater to the rising demand for group charter flights. Through this partnership, both companies will offer fleet of 757s flights providing superior range as it is equipped with the ability to fly for around 6.5 hours non-stop. Additionally, the fleet has the cargo capacity for sport teams, school groups, and organizations, among others required to travel with lots of gear.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global air charter services market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.