Europe Charter Jet Services Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.19 Billion |
| Market Size (2029) | USD 1.92 Billion |
| CAGR (2024 - 2029) | 10.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Charter Jet Services Market Analysis
The Europe Charter Jet Services Market size is estimated at USD 1.19 billion in 2024, and is expected to reach USD 1.92 billion by 2029, growing at a CAGR of 10.10% during the forecast period (2024-2029).
Europe's private jet charter market is poised to witness significant growth during the forecast period. Factors such as the growth in the number of light jets coupled with the introduction of new networks, services, and aircraft programs within the region are anticipated to lead to the market witnessing significant growth during the forecast period. Furthermore, the growth in the number of high-net-worth individuals within the region, coupled with growing demand for private charter aircraft, will lead to market growth witnessing significant growth in the future.
On the other hand, the increasing number of regulations that are being imposed on private jet charters within Europe will lead to hampering market growth in the long run.
Moreover, significant growth in terms of integration of advanced technologies such as artificial intelligence in private aircraft will lead to AI improving flight efficiency by analyzing numerous variables to devise the most efficient flight routes, thus saving on fuel. In addition, other factors such as enhancement safety, navigation, and aircraft maintenance by making use of artificial intelligence technologies will open lucrative opportunities thereby leading the market to witness significant growth during the forecast period.
Europe Charter Jet Services Market Trends
The Light Jet Segment Will Showcase Remarkable Growth During the Forecast Period
There has been a significant surge in the demand for light jets within the European region in recent years owing to the flexibility and convenience that light jets offer. Moreover, the growth in the number of high-net-worth individuals within the region who need the option of seamless point-to-point connectivity makes light jets the most preferred choice of aircraft.
Furthermore, one of the major reasons for the popularity of light jets in Europe can be attributed to the adaptability of such jets to a wide range of travel requirements. In addition, when compared to larger jets, light jets are more cost-efficient and have greater operational flexibility to land on smaller runways. This leads to light jets emerging as the major choice for business travelers who often need access to remote or less serviced airports. For instance, in June 2023, Honda Aircraft planned to commercialize the HondaJet 2600 concept light jet that it unveiled at NBAA-BACE 2021. The new light jet is powered by two Williams International FJ44-4C turbofans and with a Garmin G3000 avionics suite.
Germany to Dominate the Market During the Forecast Period
According to the Business Jet Fleet Report 2022 Europe, published by GlobalSky Media, Germany has positioned itself as the largest business jet market in Europe in terms of fleet size with 481 aircraft as of 2022, which was an increase of four aircraft as compared to 2021 figures. Furthermore, the country witnessed deliveries of 15 new aircraft in 2022, out of which 53% of the delivered aircraft were placed under the light jet category. Moreover, the country also witnessed 37 used aircraft additions from both within and outside Europe. Furthermore, as of 2022, there was a presence of 108 Bombardier business jets with German operators belonging to the Learjet, Challenger as well as the Global family of aircraft. In addition, as of 2022, light jets and very light jets were the most popular business jets in Germany, with a combined fleet share of 65%.
On the other hand, there has been significant growth in terms of the procurement of new generations of business aircraft by major players within the country to expand their clientele. For instance, in October 2023, charter aircraft operator Hahn Air announced that they had become the launch customer for Textron’s new Citation CJ3 Gen2 light jet aircraft in Europe. Furthermore, the company has announced that they will receive both aircraft by 2026, and this acquisition will likely replace the existing CJ3+ and Latitude business aircraft that Hahn Air is currently operating. Thus, growth in the acquisition of new business aircraft coupled with growing demand for business jets will lead to the private jet charter market witnessing significant growth in Germany during the forecast period.
Europe Charter Jet Services Industry Overview
The European private jet charter market is fragmented due to the presence of a diversified fleet with several big and small operators vying for market share by enhancing their current clientele. Some of the major players are VistaJet Group Holding Limited, Jet Aviation AG, Luxaviation Management Company, Fly Victor Limited, and PrivateFly Limited, amongst others.
Various players in the market are now engaged in upgrading their fleets by purchasing additional aircraft to meet the requirements of their customers as well as also increase their customer base. This, in turn, will lead to major players expanding their business network by catering to the growing number of clients. Furthermore, players are also engaged in providing membership schemes and new packages for their clients in an attempt to gain significant market share in the long run. Furthermore, the growing demand for private jets within the European region has led to opening business opportunities for various international players to commence operations in Europe, thereby leading to growth in competition within the region.
Europe Charter Jet Services Market Leaders
VistaJet Group Holding Limited
Jet Aviation AG
Luxaviation Management Company
Fly Victor Limited
PrivateFly Limited
*Disclaimer: Major Players sorted in no particular order
Europe Charter Jet Services Market News
June 2023: Bombardier announced that it delivered its first Challenger 3500 aircraft for European operations. Moreover, Aero-Dienst announced that it would likely operate the super-midsize business jet on behalf of Aviator Aircraft.
May 2023: Bombardier announced that it was to debut its award-winning Challenger 3500 business jet to the European market. Moreover, the Challenger 3500 was decreed as the only business jet in the industry to carry an Environmental Product Declaration (EPD).
Europe Charter Jet Services Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Aircraft Type
5.1.1 Light jets
5.1.2 Mid-Size jets
5.1.3 Large jets
5.2 Geography
5.2.1 United Kingdom
5.2.2 France
5.2.3 Germany
5.2.4 Switzerland
5.2.5 Italy
5.2.6 Belgium
5.2.7 The Netherlands
5.2.8 Poland
5.2.9 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 VistaJet Group Holding Limited
6.2.2 GlobeAir AG
6.2.3 Jet Aviation AG
6.2.4 Luxaviation Management Company
6.2.5 Fly Victor Limited
6.2.6 PrivateFly Limited
6.2.7 TAG Aviation
6.2.8 NetJets Services, Inc.
6.2.9 XO Global LLC
6.2.10 FAI Aviation Group
6.2.11 Cat Aviation AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Charter Jet Services Industry Segmentation
A chartered flight is an unscheduled flight that is not part of a regular airline's routing. Different companies that provide the services to fly individuals or groups of people via unscheduled flights constitute the charter jet services market. Moreover, as a private jet charter aircraft is not part of a scheduled aircraft service, individuals who own a private jet charter aircraft have the convenience of traveling at their specific timings.
The European private jet charter market is segmented by aircraft type and geography (United Kingdom, France, Germany, Switzerland, Italy, Belgium, the Netherlands, Poland, and the Rest of Europe). By aircraft type, the market is segmented into light jets, mid-size jets, and large jets. The report also offers the market size and forecasts for eight countries across the region.
For each segment, the market sizing and forecasts have been done based on value (USD).
| Aircraft Type | |
| Light jets | |
| Mid-Size jets | |
| Large jets |
| Geography | |
| United Kingdom | |
| France | |
| Germany | |
| Switzerland | |
| Italy | |
| Belgium | |
| The Netherlands | |
| Poland | |
| Rest of Europe |
Europe Charter Jet Services Market Research FAQs
How big is the Europe Charter Jet Services Market?
The Europe Charter Jet Services Market size is expected to reach USD 1.19 billion in 2024 and grow at a CAGR of 10.10% to reach USD 1.92 billion by 2029.
What is the current Europe Charter Jet Services Market size?
In 2024, the Europe Charter Jet Services Market size is expected to reach USD 1.19 billion.
Who are the key players in Europe Charter Jet Services Market?
VistaJet Group Holding Limited, Jet Aviation AG, Luxaviation Management Company, Fly Victor Limited and PrivateFly Limited are the major companies operating in the Europe Charter Jet Services Market.
What years does this Europe Charter Jet Services Market cover, and what was the market size in 2023?
In 2023, the Europe Charter Jet Services Market size was estimated at USD 1.07 billion. The report covers the Europe Charter Jet Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Charter Jet Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Charter Jet Services Industry Report
Statistics for the 2024 Europe Charter Jet Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Charter Jet Services analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
