Dallas, Texas, Aug. 15, 2022 (GLOBE NEWSWIRE) -- The size of the worldwide Charter Flight market is anticipated to increase from $48.07 billion in 2022 to $51.88 billion in 2029 at a compound annual growth rate (CAGR) of 12.4%.
The use of charter flight has increased due to important considerations such as time constraints, last-minute capacity, and unexpected applications, which have increased the global charter flight market size. A charter flight is an unforeseen trip that is not connected to a regularly scheduled airline route. With a charter flight, one may rent the complete aircraft and choose the location and timing of the departure and arrival as needed.
In contrast to regularly scheduled flights, charter flight tickets can be purchased separately through a charter firm or as part of a trip package through tour operators. Additionally, tourists can book a complete charter for a group (or an individual).
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The charter flight offers services for freight and passenger air transportation along routine routes and according to predictable schedules. In the global charter flight market, corporations and major organizations typically make up a significant percentage of the income since they may utilize charter aircraft to carry employees to and from meetings, between different work sites, and only for the transportation of goods. When corporate profits are high and the economy is robust, businesses are more inclined to use chartered planes for their employees. For instance, Gama Aviation was purchased by Wheels Up in March 2020 for an unknown sum. Wheels Up is a pioneer in comprehensive aviation solutions. With the acquisition, Wheels Up will have a larger fleet of more than 300 owned and operated aircraft. Gama Aviation is a well-known provider of private aviation services, including management of managed aircraft, private jet charter, and ancillary support.
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The global charter flight market is made up of companies (organizations, sole proprietors, and partnerships) that sell passenger chartered air transportation services and associated products. These businesses provide customers with chartered (non-scheduled) air transportation services using aircraft, such as aeroplanes and helicopters, in exchange for a price per mile or per hour for the charter of the aircraft. The only things and services that are covered are those that are traded between parties or sold to end users.
Private charter services and corporate charter services are the two primary passenger’s charter flight industry. A person can rent a full aircraft from a commercial airline using private charter services. Airliners, mid-sized jets, light jets, and big aircraft are different size categories. According to capacity, the global charter flight market is divided into three categories: less than 10, 10-100, and larger than 100. Additionally, high and ultra-high net worth individuals are increasingly choosing on-demand charter planes as opposed to having their own jets, which may be more expensive to purchase and operate. Throughout the projection period, it is anticipated that this tendency will further expand the market.
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Major Points from Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Charter Flight Market by Product Type, 2018-2028 (USD Billion)
5. Charter Flight Market by Application, 2018-2028 (USD Billion)
6. Charter Flight Market by Region 2018-2028 (USD Billion)
7. Competitive Landscape
8. Company Profiles
9. Appendix
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Charter Flight Market Report Overview:
| Metrics | Details |
| Study Period | 2019-2029 |
| Fastest Growing Market: | North American |
| Market Size in 2029 | USD 51.88 billion |
| Segment Covered | Product Type, Applications, Regions |
| Product Type Covered | Private Charter Services, and Business Charter Services |
| Applications Covered | Charter Passenger, and Charter Freight |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | TMC Jets, VistaJet, Jet Aviation, BAA, Gama Aviation, Air Partner, Delta Private Jets, Luxaviation, Corporate Flight Management, Eastern Jet, Deer Jet, LAder Aviatio, GlobeAir, MJets, Solairus Aviation, LILY JET, Jet Linx Aviation, Executive Jet Management, TAG Aviation, Clay Lacy Aviation, PrivateFly, Asian Aerospace, Shizouka Air, Air Charters India, Phenix Jet, Club One Air, Stratos Jet Charters, Nanshan Jet, Deccan Charters and Premiair |
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