Middle East & Africa Jet Charter Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Middle East & African Jet Charter Services Market is segmented by Aircraft Type (Large Jet, Mid-size Jet, and Light Jet) and Geography. The report offers market size and forecast for the Middle East & African Jet Charter Services Market in value (USD million) for all the above segments.

Market Snapshot

Middle-East and Africa Jet Charter Services Market Forecast
Study Period: 2018-2027
Base Year: 2021
CAGR: >3 %
Middle-East and Africa Jet Charter Services Market Key Players

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Market Overview

The Middle East & African charter jet services market is anticipated to record a CAGR of over 3% during the forecast period (2022-2027).

In 2020, the demand for charter services witnessed a decline due to the impact of the COVID-19 pandemic, as countries around the world put a temporary travel ban to mitigate the spread of the COVID virus. However, in 2021, due to the increased vaccination drives, the Middle East & African charter jet services market not only recovered from the impact of the pandemic but in some countries (like Saudi Arabia) witnessed an increase compared to pre-COVID levels.

The increase in the per capita income of the middle-class population in the region is enabling them to opt for charter services for satiating their exquisite tourism needs. This is encouraging charter service providers to expand their fleet 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, while the associated ownership benefits, in terms of evolving fractional ownership or private jet card programs, have been a decisive factor promoting the growth of the market in the region.

Scope of the Report

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, corporates, businesses, VIPs, sportspeople, 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 market is segmented based on aircraft type into light jets, mid-size jets, and large jets. The report also covers the market sizes and forecasts for the market in major countries in the Middle East & African region. The market sizing and forecasts have been provided in value (USD million).

The study considers both private ownership and fractional ownership models deployed by the charter service providers. Charter helicopters operating in the region are excluded from the purview of the report.

Aircraft Type
Large Jet
Mid-size Jet
Light Jet
Geography
Saudi Arabia
United Arab Emirates
Bahrain
Oman
Qatar
South Africa
Nigeria
Rest of Middle East & Africa

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Key Market Trends

Infrastructure Development Projects Bolstering Growth Prospects

The preference for luxury travel has been growing rapidly in the Middle Eastern region, primarily due to the presence of many HNWIs in this region. The HNWIs and Ultra HNWIs (UHNWI) in the Middle Eastern region robustly increased over the past few years (increased by over 6% and over 12%, respectively, in 2020 compared to 2019). To provide a personalized experience, aircraft charter operators are leveraging state-of-the-art innovation to offer a complete suite of flight solutions from fixed-price charter to customized membership programs. Also, the growth of charter jet services is being propelled by the increase in demand from the tourism sector. Further, currently, several infrastructure developments projects are underway in the region. For instance, the new airport in Oman has allocated space for operating private and charter jets. Meanwhile, Kuwait and Bahrain are constructing new business aviation facilities. Also, the airport expansion projects at both the Riyadh and Jeddah airports have allocated more space for private and charter jets. Such developments are envisioned to create further business prospects for the players in the Middle East & African charter jet services to expand their operations during the upcoming period.

Middle-East and Africa Jet Charter Services Market Trends

Saudi Arabia to Witness Significant Growth during the Forecast Period

Saudi Arabia is anticipated to witness robust growth in the charter services market during the forecast period due to various factors such as the presence of many HNWIs, increasing demand for newer generation aircraft, and the evolution of new aircraft ownership models. Currently, the business jet fleet in Saudi Arabia constitutes around 11% of the regional fleet, and operates 1/3rd of the business jets in the country are deployed for charter operations. Furthermore, to fulfill the demand from consumers in this region, air-charter operations have undertaken a fleet-modernization initiative, which has resulted in the dispersal of several contracts for procuring new business jets. Currently, as per the recommendations of the International Civil Aviation Organization (ICAO), all the operators of private aircraft based in Saudi Arabia should receive the General Authority of Civil Aviation (GACA) approved (Part 125) Operator’s Certificate (OC). In March 2021, Jet Aviation was awarded a Part 125 Operator’s Certificate from GACA for its aircraft. The company has been operating in Saudi Arabia for over 40 years. Such developments are envisioned to bolster the growth prospects of the charter jet services during the forecast period.

Middle-East and Africa Jet Charter Services Market Share

Competitive Landscape

The Middle East & African 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 Middle-East and Africa Charter Jet Services market are Empire Aviation Group, Royal Jet, ExecuJet, 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 by 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.

Recent Developments

  • In January 2022, the RoyalJet Group announced its plan to expand its fleet with the acquisition of the new Boeing Business Jet. The aircraft operator acquired the new BBJ and underwent technological and communications upgrades in Basel (Switzerland). The aircraft is planned to be deployed for charter applications from April 2022.
  • In October 2021, Gulf Air, the national carrier of the Kingdom of Bahrain, launched private charter services under the Boutique Charters that will allow its clients to book private direct charter flights with personalized itineraries. The new service is expected to be available for customers like government and corporate delegations, destination weddings, private family holidays, and private cargo consignments onboard aircraft like Airbus A320neo, A321neoLR, and Boeing 787-9 Dreamliner.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Size and Forecast, 2018 - 2027

    2. 3.2 Market Share by Aircraft Type, 2021

    3. 3.3 Market Share by Geography, 2021

    4. 3.4 Structure of the Market and Key Participants

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size and Forecast by Value - USD million, 2018 - 2027)

    1. 5.1 Aircraft Type

      1. 5.1.1 Large Jet

      2. 5.1.2 Mid-size Jet

      3. 5.1.3 Light Jet

    2. 5.2 Geography

      1. 5.2.1 Saudi Arabia

      2. 5.2.2 United Arab Emirates

      3. 5.2.3 Bahrain

      4. 5.2.4 Oman

      5. 5.2.5 Qatar

      6. 5.2.6 South Africa

      7. 5.2.7 Nigeria

      8. 5.2.8 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Empire Aviation Group

      2. 6.1.2 Royal Jet

      3. 6.1.3 ExecuJet

      4. 6.1.4 Vista Global Holding Limited

      5. 6.1.5 NASJET

      6. 6.1.6 Fly Charters

      7. 6.1.7 Qatar Executive (Qatar Airways)

      8. 6.1.8 Emirates Executive (Emirates Group)

      9. 6.1.9 Sky Prime Aviation Services

      10. 6.1.10 Africa Charter Airline

      11. 6.1.11 Comair Flight Services

      12. 6.1.12 Gulf Air

      13. 6.1.13 Saudia Private Aviation (Saudia)

  7. 7. MARKET OPPORTUNITIES

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Frequently Asked Questions

The Middle-East and Africa Jet Charter Services Market market is studied from 2018 - 2027.

The Middle-East and Africa Jet Charter Services Market is growing at a CAGR of >3% over the next 5 years.

Empire Aviation Group, Royal Jet, ExecuJet, Qatar Executive (Qatar Airways), Emirates Executive (Emirates Group) are the major companies operating in Middle-East and Africa Jet Charter Services Market.

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