MEA Private Jet Charter Services Market Size
Study Period | 2019-2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 566.46 Million |
Market Size (2029) | USD 943.39 Million |
CAGR (2024 - 2029) | 10.74 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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MEA Private Jet Charter Services Market Analysis
The MEA Jet Charter Services Market size is estimated at USD 566.46 million in 2024, and is expected to reach USD 943.39 million by 2029, growing at a CAGR of 10.74% during the forecast period (2024-2029).
- The increase in the per capita income of the middle-class population in the region is enabling them to opt for charter services to satisfy their exquisite tourism needs. This is encouraging charter service providers to expand their fleets to cover new routes in response to the rising demand and serve a larger market.
- The emerging aviation emission norms and the diversified requirement of the clientele to personalize their travel experience have bolstered the demand for newer-generation aircraft. Also, the presence of a growing High Net-worth Individual (HNWI) clientele in the region has had a positive effect on the demand-side dynamics of the market. At the same time, the associated ownership benefits, in terms of evolving fractional ownership or private jet card programs, have been a decisive factor in promoting the growth of the market in the region.
MEA Private Jet Charter Services Market Trends
Large- Jet Segment is Projected to Dominate the Market During the Forecast Period
- The scope of large-size jets includes large jets, large long-range jets, and large ultra-long-range jets. The large business jet category accounted for 70% of the deliveries during 2017-2022. In terms of the current operational fleet, large jets accounted for around 36% of the African fleet. Large jets are more prevalent in Africa. During the last several years, air charter service providers have witnessed high demand in the entire region for large jets.
- The expansion of e-commerce and the necessity for quick and dependable delivery of goods to consumers fuel demand for air charter freight services. Increasing adoption of new and advanced aircraft technologies, coupled with rising investments in the aviation sector, is expected to drive further the growth of the African air charter services industry. Moreover, the increasing popularity of private jet charter services for leisure travel also contributes to this regional market growth.
- The major original equipment manufacturers (OEMs) in business jets, such as Bombardier Inc., are expanding the growth opportunities in the region with their large jet offerings, such as Global 7500. In Africa, Dassault Falcon 7X was the leading model, with around five deliveries during 2017-2022.
South Africa to Witness Significant Growth during the Forecast Period
- The growth of the business jet market in South Africa is primarily attributed to the increasing demand for business jet operator companies. Additionally, business jets are gaining popularity among private corporations and institutions across South Africa, which is primarily attributed to the accessibility of business jets to remote locations, flexibility with scheduling, privacy, and having a positive impact on customers. As of 2022, South Africa’s active business jets accounted for 11% of the Middle East and Africa’s fleet. OEMs that delivered most of the business jets are Cessna (a subsidiary of Textron Inc.) and Bombardier, which have the largest market share, accounting for 27% and 26%, respectively. Additionally, in South Africa, all of the business jets were wholly owned ownership.
- In terms of deliveries, the country’s business jets accounted for 9% of the total business jets in Africa from 2017 to 2022. Of these jet deliveries, about 40% are light jets, followed by mid-size jets and large jets, accounting for 30% each. The light jets segment is witnessing demand among the other two segments because it is best suited to shorter-range regional operations. Additionally, the demand for tourism is driving the demand in this segment.
- Based on models, the most delivered jets are Bombardier’s Challenger 350, Global 6500, and 7500, followed by Pilatus’ PC-24, Cirrus’ Vision SF50 G2, Dassault Aviation Inc.’s Falcon 2000S, and Cessna (a subsidiary of Textron Inc.) Citation Latitude.
MEA Private Jet Charter Services Industry Overview
The African private jet charter services market is highly fragmented. There are over 150 charter service providers in the region. While some of these operate on select routes, others operate a vast fleet and support both national and international travel. Some of the prominent players in the market are Empire Aviation Group, Royal Jet, ExecuJet Aviation Group AG, Qatar Executive (Qatar Airways), and Emirates Executive (Emirates Group). Players are expanding their fleet with newer generation aircraft with added features to attract new customers.
Mid-size to smaller companies are increasing their market presence by securing new membership contracts and tapping new markets by operating on new routes. However, the demand for light jets in the region has been slightly lower than anticipated, partly due to the widespread reluctance to fly in a turboprop aircraft on account of the existing safety concerns regarding the performance reliability of such aircraft.
MEA Private Jet Charter Services Market Leaders
Empire Aviation Group
Royal Jet
Qatar Executive (Qatar Airways)
Emirates Executive (Emirates Group)
ExecuJet Aviation Group AG
*Disclaimer: Major Players sorted in no particular order
MEA Private Jet Charter Services Market News
- May 2023: Mc Dan Aviation, an air charter services provider in Ghana, added two aircraft to its fleet, the Beechcraft King Air B200 and Airbus EC135 T1 helicopter. The provider announced that the Beechcraft King Air B200 will operate mainly in Ghana and the West Africa sub-region.
- October 2022: Gulfstream Aerospace Corporation announced a new authorized warranty facility agreement with ExecuJet Aviation Nigeria, which will provide warranty and maintenance service and spare parts for Gulfstream G450, Gulfstream G550, Gulfstream G650, and Gulfstream G650ER aircraft in West Africa.
MEA Jet Charter 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 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Aircraft Size
5.1.1 Light
5.1.2 Mid-size
5.1.3 Large
5.2 Geography
5.2.1 South Africa
5.2.2 Ghana
5.2.3 Nigeria
5.2.4 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Empire Aviation Group
6.1.2 Royal Jet
6.1.3 ExecuJet Aviation Group AG
6.1.4 Vista Global Holding Limited
6.1.5 NASJET
6.1.6 Fly Charters
6.1.7 Qatar Executive (Qatar Airways)
6.1.8 Emirates Executive (Emirates Group)
6.1.9 Sky Prime Aviation Services
6.1.10 Africa Charter Airline
6.1.11 Comair Flight Services
6.1.12 Gulf Air
6.1.13 Saudia Private Aviation (Saudia)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
MEA Private Jet Charter Services Industry Segmentation
A charter business model is one in which the aircraft is rented to the users for operation as per their needs. A charter service provider or operator is a professional organization accredited and licensed to provide the pilots, maintain the aircraft, and operate the aircraft. Charter services can be opted for by individuals, corporations, businesses, VIPs, sportspeople, and government officials for their use post entering into a mutual understanding with the charter operator regarding the terms and conditions of the rental program. A charter aircraft can also be modified for performing other roles, such as emergency medical services, cargo delivery, or equipment resupply.
The African private jet charter services market is segmented based on aircraft size and geography. By aircraft type, the market is segmented into light jets, mid-size jets, and large jets. The report also covers the market size and forecasts for the African private jet charter services market in 3 countries across the region (South Africa, Nigeria, Ghana, and the Rest of Africa).
For each segment, the market sizing and forecasts have been done on the basis of revenue (USD).
Aircraft Size | |
Light | |
Mid-size | |
Large |
Geography | |
South Africa | |
Ghana | |
Nigeria | |
Rest of Africa |
MEA Jet Charter Services Market Research FAQs
How big is the MEA Jet Charter Services Market?
The MEA Jet Charter Services Market size is expected to reach USD 566.46 million in 2024 and grow at a CAGR of 10.74% to reach USD 943.39 million by 2029.
What is the current MEA Jet Charter Services Market size?
In 2024, the MEA Jet Charter Services Market size is expected to reach USD 566.46 million.
Who are the key players in MEA Jet Charter Services Market?
Empire Aviation Group, Royal Jet, Qatar Executive (Qatar Airways), Emirates Executive (Emirates Group) and ExecuJet Aviation Group AG are the major companies operating in the MEA Jet Charter Services Market.
What years does this MEA Jet Charter Services Market cover, and what was the market size in 2023?
In 2023, the MEA Jet Charter Services Market size was estimated at USD 505.62 million. The report covers the MEA Jet Charter Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the MEA Jet Charter Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Middle East & African Jet Charter Services Industry Report
Statistics for the 2024 Middle East & African Jet Charter Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Middle East & African Jet Charter 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.