Dublin, June 20, 2023 (GLOBE NEWSWIRE) -- The "Air Charter Services Market: Global Industry Analysis, Trends, Size, Share and Forecasts to 2030" report has been added to ResearchAndMarkets.com's offering.
The global air charter services market was valued at USD 27,647.05 million in 2022 and is expected to reach USD 39,341.74 million in 2030, with a CAGR of 3.98% during the forecast period 2023-2030.
The study on the air charter services market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.
Charter aircraft provide flexibility and convenience by offering unscheduled flights and customizable departure/arrival locations and times. This appeals to individuals and groups who prefer tailored travel experiences. Charter flights can sell individual seats or be hired exclusively, catering to various travel preferences.
The charter industry serves both passengers and cargo, following established routes and schedules. The key drivers behind the demand for air charter services include the ability to set one's own schedule, access a wide range of airports, avoid lengthy airport lines, and enjoy the privacy of a dedicated aircraft. Additionally, significant time savings and the growing demand for instant product delivery contribute to the popularity of charter flights.
Private Charter Services to Dominate the Type Segment of the Air Charter Services Market
Private charter services hold a significant market share in the aviation charter services industry, based on the product type. Private charter services cater to the specific needs and preferences of individuals or groups seeking personalized air travel experiences. This segment offers exclusive use of private aircraft, allowing customers to customize their flight itineraries, choose their desired departure and arrival locations, and enjoy the privacy and convenience of a dedicated aircraft.
The demand for private charter services has been driven by factors such as the desire for luxury travel experiences, time savings, flexibility, and the ability to access remote or underserved destinations. Private charter services have gained popularity among high-net-worth individuals, corporate executives, and those seeking a premium and tailored air travel experience. As a result, private charter services have captured a significant market share within the air charter services market.
North America to be the dominant region in the Air Charter Services Market
North America holds a dominant share of the global air charter services market due to several factors. One of the key reasons is the increased accessibility of private aircraft for individuals in this region. The availability and affordability of private jets have made air charter services more accessible to a wider range of customers.
Additionally, the North American market has witnessed the attractiveness of the air charter market, leading to a higher demand for charter services. The region's robust infrastructure, the extensive network of airports, and advanced aviation facilities further contribute to the growth and dominance of the aviation charter services market in North America.
Market Dynamics
Drivers
- The shift towards flexibility and convenience is driving market growth.
- Increasing customer demand for fast and immediate delivery products is expected to influence market growth.
Restraints
- The number of private aircraft available for charter is limited, which can lead to a lack of availability during peak travel seasons.
Opportunities
- Increasing demand for private travel, particularly among high-net-worth individuals and corporate clients is expected to create ample growth opportunities.
Segment Covered
The global air charter services market is segmented on the basis of type, and application.
The Global Air Charter Services Market by Type
- Business Charter Services
- Private Charter Services
The Global Air Charter Services Market by Application
- Charter Passenger
- Charter Freight
Company Profiles
- Air Charter Service
- NetJets IP, LLC
- VistaJet
- Wheels Up
- FLEXJET, LLC.
- GlobeAir AG
- Jet Aviation Inc.
- Jet Linx Aviation
- Other Companies
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the air charter services market.
2. Complete coverage of all the segments in the air charter services market to analyze the trends, developments in the global market, and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global air charter services market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand and/or diversify.
For more information about this report visit https://www.researchandmarkets.com/r/ekm92o
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