Air Charter Services Market Unlocking Growth and Anticipated to Set for USD 53.65 billion at 5.8% CAGR During 2023-2032- Report By MRFR

Air Charter Services Market Research Report Information by Type (Business Charter Services, Private Charter Services), By Application (Charter Passenger, Charter Freight), And By Region (North America, Europe, Asia-Pacific, and Rest Of The World) –Market Forecast Till 2032

London, United Kingdom, May 11, 2023 (GLOBE NEWSWIRE) -- According to latest research report "Air Charter Services Market Research Report: Information by Type Application And Region - Forecast till 2032", the Market Size is expected to reach USD 53.65 Billion by 2032, registering a CAGR of 5.8% during 2023-2032.

Air Charter Services Market Overview:

The global air charter services market will touch USD 53.65 billion at a 5.8% CAGR by 2032, as per the present Market Research Future report. Significant growth drivers in the business include the sharp rise in air travel globally, the increasing volume of charter services, and ongoing improvements in airport facilities and air charter services, particularly in developing nations.


Increasing Demand for On-Demand Services to Boost Market Growth 

The need for on-demand services that let customers book private planes and helicopters as needed, is rising in the air charter services market. By skipping lengthy check-in and security queues at commercial airports, on-demand air charter services provide more flexibility, convenience, & time savings. Additionally, the development of mobile applications and technical platforms has made it easier to access on-demand air charter services & to book flights.


Growing Demand for Air Ambulance Transportation to offer Robust Opportunities 

The growing need for air ambulance transportation and emergency medical services will offer robust opportunities for the market over the forecast period.

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Report Scope:

Report AttributeDetails
2032 Market SizeUSD 53.65 billion
CAGR5.8% (2023–2032)
Base Year2022
Forecast Period2023-2032
Historical Data2021
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredBy Type, By Application, By Region
Geographies CoveredNorth America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market DriversIncreasing Demand for On-Demand Services

Key Players 

Eminent industry players profiled in the global air charter services market report include,

  • Delta Private Jets XOJET
  • JetSuite
  • VistaJet
  • NetJets
  • Air Charter Service
  • Gama Aviation and others

Through strategic actions like mergers and acquisitions, collaborations, and alliances, these players are actively increasing their market presence. In order to enhance the general client experience and streamline operations in air charter services sector, these businesses are also making significant investments in their technical capabilities.

Restraints and Challenges:

High Cost of Service to act as Market Restraint 

The high cost of service and dearth of skilled pilot may act as market restraints over the forecast period.

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Market Segmentation:

The air charter services market is bifurcated based on type and application.

By type, the business charter will lead the market in the forecast period for the burgeoning demand for private air travels especially for business purposes, the flexibility in flight routes and schedules, enhanced safety & security measures, personalized services & amenities, and increase in business activities worldwide.

By application, the charter passengers will domineer the market in the forecast period for the growing need for exclusive air travel experiences via individuals & groups like high-net worth people, sports teams, celebrities, and corporate travelers.

COVID-19 Analysis:

Due to lockdowns, travel restrictions, & people's fear of getting the virus, there was a marked decline in demand for air travel in the early stages of the pandemic. As a result, the market for air charter services experienced a significant reduction in activity. There was an increase in need for air charter services particularly for emergency medical transport, the repatriation flights, and freight transport because many airlines, including major carriers, were forced to cancel their flights. This increase in demand, nevertheless, was insufficient to reverse the market's general slide. With rising need for private jets & other small aircraft, the air charter services business is beginning to revive while the pandemic persists.

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Regional Analysis:

North America to Head Air Charter Services Market 

In 2022, the North American market was valued at USD 14.79 billion and is anticipated to increase at a substantial CAGR throughout the research period. Due to the presence of significant competitors and the considerable need for air charter services for both personal and business travel, North America dominates the global market for air charter services. The area is home to various significant firms that require regular travel for its executives, as well as a thriving aviation industry. The expansion of the on-demand air charter services has also contributed to the market expansion in this area. The need for air charter services in North America is also driven by the rising fame of leisure travel & the growing penchant for private planes for far-flung destinations. Due to the increasing ease with which people may access private aircraft and the region's attractiveness of the air charters market, the US market accounted for the bulk of the market in this region in 2018 and is predicted to do so again during the projection year.

Europe to Have Favorable Growth in Air Charter Services Market 

Due to the rising demand for private aircraft and business aviation, Europe holds the second-largest worldwide market share for air charter services. The area is home to numerous top private jet manufacturers and has a well-developed infrastructure. The industry for European air charter services is anticipated to expand even more as a result of increased investments in the aviation sector and increasing use of new & advanced aircraft technologies. Additionally, the rising demand for private jet charter service for leisure travel supports the expansion of this geographical market. The market for air charter services in Germany had the biggest market share, & the market for such services in the United Kingdom had the quickest expansion rate in the continent of Europe.

Industry Updates:

December 2022- A binding contract was recently signed by EaseMyTrip and Gujarat-based Nutana Aviation Capital. In addition to offering charter booking services to clients in India & overseas, Nutana Aviation lends charter aircraft to operators, enabling them to operate profitably.

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