North America Charter Jet Services Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 11.87 Billion |
| Market Size (2029) | USD 18.35 Billion |
| CAGR (2024 - 2029) | 9.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Charter Jet Services Market Analysis
The North America Charter Jet Services Market size is estimated at USD 11.87 billion in 2024, and is expected to reach USD 18.35 billion by 2029, growing at a CAGR of 9.10% during the forecast period (2024-2029).
The increase in the per capita income levels of the middle-class population in the region is enabling them to opt for charter services for tours and travel. This encourages 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 large high net-worth individual (HNWI) clientele in North America has positively affected the market's demand-side dynamics. 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 market growth in the region. According to the Global Wealth Report 2022, the United States ranked highest, with over 140,000 ultra-high-net-worth individuals (with wealth above USD 50 million) in 2021, followed by China with 32,710 individuals.
Furthermore, the growth in interest in aircraft rental and the advent of membership programs in the charter jet service industry are expected to provide profitable prospects for the leading players in the market. At the same time, the high cost of services and the absence of skilled pilots hamper the market's growth.
North America Charter Jet Services Market Trends
Large Jet Segment Will Showcase Remarkable Growth During the Forecast Period
The large jet segment is projected to grow significantly during the forecast period. The large jets have large and spacious cabins with ample space for passengers to work, relax, and sleep and a very generous luggage capacity. Large jets are the epitome of comfort and performance for long-haul charter flights. These jets travel faster and longer than their smaller counterparts, with speeds of as high as 530 mph and middle ranges of around 4,000 miles. The main advantages of owning a large private jet are its flexibility and convenience. The travel plans can be tailored to suit the traveler's schedule, and there’s no need to worry about the hassles and delays of commercial air travel.
Although large, they are still compact enough to operate out of airports not accessible by many major airlines. Amenities available on large jets often include a private lavatory, stereo DVD, satellite phone, external baggage compartments, fax, and a full galley. Additionally, onboard flight attendants improve the in-flight experience by providing additional safety and comfort while assisting with gourmet catering and entertainment. For instance, in May 2021, Dassault Aviation announced an all-new Falcon jet that delivered high comfort, versatility, and technology.
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United States is Anticipated to Dominate the Market During the Forecast Period
The US is anticipated to dominate the market during the forecast period. The growth is due to many high-net-worth individuals (HNWIs), increasing demand for newer-generation aircraft, and the evolution of new aircraft ownership models.
Furthermore, to fulfill the needs of 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. For instance, XOJET Aviation, a leading charter service provider based in the United States, deploys solutions to offer an asset-light alternative to full jet ownership and the rigid, non-refundable jet card and fractional jet ownership models. The company operates a fleet of 116 owned aircraft and 1,500 partner operator aircraft to provide a distinguished level of service even while booking single seats on shared flights.
Also, Honeywell International Inc.’s 31st annual Global Business Aviation Outlook published in 2022 forecasted up to 8,500 new business jet deliveries worth USD 274 billion in ten years, up by 15% in deliveries and spending from the same 10-year forecast a year ago. Thus, the growing demand for jets for various applications such as business travel and leisure purposes drives the growth of the market across the country.
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North America Charter Jet Services Industry Overview
The North America charter jet services market is fragmented, with several players holding significant shares in the market. Some of the key players in the market are NetJets IP, LLC., XOJET Aviation, Gama Aviation PLC, Delta Airlines, Inc., and PrivateFly LLC. There were around 964 registered aircraft charter operators in the United States alone. While some operate on selected routes, some use a vast fleet and support national and international travel. The market is highly dependent on technological advancement and product innovation; hence, mid-size to smaller companies are increasing their market presence by securing new membership contracts and tapping new markets by operating on new routes.
North America Charter Jet Services Market Leaders
NetJets IP, LLC.
XOJET Aviation
Gama Aviation PLC
Delta Airlines, Inc.
PrivateFly LLC
*Disclaimer: Major Players sorted in no particular order
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North America Charter Jet Services Market News
March 2023: Canada Jetlines Operations Ltd. announced that it had signed a contract to provide aircraft and crew for five months starting at the end of March 2023. The agreement includes daily flying and will continue till the beginning of September 2023. Canada Jetlines has completed nearly 50 charter and ACMI flights since January 2023 and expects to perform several additional charter flights in the coming months.
June 2022: Vista Global Holding announced completing the acquisition of Jet Edge, the US-based provider of large-cabin and super-midsize private jet charter and aircraft management services. It will double the company’s North American charter footprint. The acquisition expands the company’s VistaJet and XO branded fleets by 100 aircraft.
North America 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 Size
5.1.1 Light
5.1.2 Mid-size
5.1.3 Large
5.2 Geography
5.2.1 United States
5.2.2 Canada
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 Delta Airlines, Inc.
6.1.2 Executive Jet Management, Inc.
6.1.3 Fly Victor Limited
6.1.4 Gama Aviation Plc
6.1.5 Jettly Inc.
6.1.6 Magellan Jets, LLC
6.1.7 NetJets IP, LLC
6.1.8 VistaJet Group Holding Limited
6.1.9 PrivateFly LLC
6.1.10 Stratos Jet Charters, Inc.
6.1.11 XOJET Aviation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Charter Jet Services Industry Segmentation
A charter business model is one in which the aircraft is rented to the users for operation per their needs. A charter service provider or operator is a professional organization accredited and licensed to provide the pilots and fly the aircraft. Charter services can be opted for by individuals, corporates, VIPs, sportspersons, and government officials for their use after 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 other roles, such as emergency medical services, cargo delivery, or equipment resupply.
The North America charter jet services market is segmented by aircraft size and country. The market is classified by aircraft size into large, mid-size, and light. The report also offers the market size and forecasts for two countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD).
| Aircraft Size | |
| Light | |
| Mid-size | |
| Large |
| Geography | |
| United States | |
| Canada |
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North America Charter Jet Services Market Research FAQs
How big is the North America Charter Jet Services Market?
The North America Charter Jet Services Market size is expected to reach USD 11.87 billion in 2024 and grow at a CAGR of 9.10% to reach USD 18.35 billion by 2029.
What is the current North America Charter Jet Services Market size?
In 2024, the North America Charter Jet Services Market size is expected to reach USD 11.87 billion.
Who are the key players in North America Charter Jet Services Market?
NetJets IP, LLC., XOJET Aviation, Gama Aviation PLC, Delta Airlines, Inc. and PrivateFly LLC are the major companies operating in the North America Charter Jet Services Market.
What years does this North America Charter Jet Services Market cover, and what was the market size in 2023?
In 2023, the North America Charter Jet Services Market size was estimated at USD 10.79 billion. The report covers the North America Charter Jet Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Charter Jet Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Charter Jet Services Industry Report
Statistics for the 2024 North America Charter Jet Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America 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.
North America Charter Jet Services Market Report Snapshots
