Private Jet Charter Services Market Size and Share Analysis - Growth Trends and Forecasts (2023-2028)

The Private Jet Charter Services Market is Segmented by Aircraft Size (Light, Mid-size, and Large) and Geography (North America (United States and Canada), Europe (United Kingdom, France, Germany, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, and Rest of Asia-Pacific), Latin America (Mexico, Brazil, and Rest if Latin America), and the Middle East & Africa (United Arab Emirates, Saudi Arabia, South Africa, and Rest of Middle East & Africa)). The report offers the market size in value terms in USD (million) for all the abovementioned segments.

Private Jet Charter Services Market Size

Private Jet Charter Services Market Summary
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Study Period 2018-2028
Base Year For Estimation 2022
CAGR 10.30 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

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Private Jet Charter Services Market Analysis

The Private Jet Charter Services Market was valued at USD 12.97 billion in 2023 and is projected to grow to USD 21.18 billion by 2026, registering a CAGR of 10.30% during the forecast period.

A charter flight is an unscheduled flight that does not follow a regular airline route. A charter flight allows users to rent a complete aircraft and choose departure and arrival times and locations. Unlike scheduled flights, seats can be purchased separately from a charter firm or as a part of a trip package by tour operators. Moreover, with an air charter, a user can rent an all-inclusive aircraft and determine the arrival and departure time at their convenience. The surge in demand for shipment related to oversized cargo through flights and the additional challenges with regard to logistics are fueling the demand for cargo charters.

However, the hike in demand is one of the core components driving the growth of the air charter services market. Elements like last-minute capacity, lack of time, and unprecedented applications have also led to the adoption of air charter. Hence, the air charter services market is expected to witness significant growth during the forecast period.

Furthermore, the growth in interest in aircraft rental and the advent of membership programs in the air charter service industry are expected to provide profitable prospects for the leading players in the air charter services market going forward.

Private Jet Charter Services Market Trends

Mid-Size Jets Segment is Expected to Show Highest Growth During the Forecast Period

The mid-size jets segment will showcase remarkable growth during the forecast period. Mid-size jets typically have a range of four-five hours of flight for up to eight passengers. With a greater range and higher performance than the light Jet, the mid-size jets remain an economical choice in luxury travel for jet charter needs.

Mid-size jets feature larger cabin space as compared to light jets. These jets combine transatlantic capability with the speed and comfort of a wide-body, high-altitude aircraft. Some of the popular and widely used models of mid-size jets are Learjet 75, Phenom 300, Hawker 800XP/900XP, Citation Excel, and others.

Many mid-size jets, such as the Hawker 900XP and the Cessna Citation Excel, can accommodate up to 8-12 passengers comfortably, with configurations that can be customized to meet specific needs. Mid-size private jets are equipped with the latest technology and safety features, ensuring a smooth and secure flight experience. Modern avionics systems, such as the Garmin G5000 and Collins Pro Line Fusion, provide pilots with comprehensive and intuitive flight information, while fly-by-wire controls enhance aircraft stability and responsiveness.

Flexjet, Magellan Jets, NetJets, Nicholas Air, OneFlight, Star Jets, and VistaJet each offer aircraft-specific options with guaranteed availability and fixed rates that cover midsize, including super mid private jets. Super mid-size jets have gained higher popularity as they are mostly selected due to many of the perks of a Heavy Jet, but not the added price. With intra-continental capabilities, an entire group can fly comfortably for 5-8 hours without refueling. These jets can have a fully equipped galley and oversized restroom and offer larger baggage capacity. Such benefits will continue to attract more customers to opt for mid-size jets for charter flights.

Private Jet Charter Services Market: New Private Jet Deliveries by Manufacturer (Units), Global, 2022

North America Will Dominate the Market During the Forecast Period

North America holds the highest shares in the market and continues its domination during the forecast period. Factors such as the presence of many HNWIs, increasing demand for newer generation aircraft, and the evolution of new aircraft ownership models have propelled the business prospects of the market players in the US.

According to the Global Wealth Report conducted by Credit Suisse, as of the end of 2020, there were 21,951,000 millionaires in the United States, and it is expected to grow by 28% to 28,055,000 by 2025. According to Forbes, the number of United States billionaires rose from 614 in 2020 to 724 in 2021. Thus, the demand for private jet charter services will be driven by the presence of millionaires and billionaires in the country.

XO Global LLC, a leading charter service provider based in the United States, deploys turnkey 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. In April 2022, Wheels Up, the leading brand in private aviation in the United States, announced that it officially closed its acquisition of Air Partner plc, a UK-based global aviation services group with operations in 18 locations and four continents.

Such developments are envisioned to drive the business prospects of the players in the North American charter jet services market in the upcoming period.

Private Jet Charter Services Market - Growth Rate by Region (2023 - 2028)

Private Jet Charter Services Industry Overview

The private jet charter services market is fragmented, with several global and local players holding significant shares in the market. Some of the key players in the market are Air Charter Service Group Limited, Thai Airways International Public Company Ltd. (Thai), NetJets IP LLC, Xojet Aviation, and Gama Aviation PLC. To provide a personalized experience, aircraft charter operators are leveraging state-of-the-art innovative solutions to provide a complete suite of flight offerings from fixed-price charters to customized membership programs. Charter operators are trying to attract customers by launching different schemes that enhance convenience, dependability, and efficiency. For instance, in October 2022, Gama Aviation's joint venture with Bond Helicopters received its first contract to support the offshore operations of an international oil & gas firm. The contract will support offshore operations in the southern North Sea for a five-year period commencing January 2024. Under the contract, the venture will supply, operate, and maintain five helicopters to support the transportation of personnel and equipment to and from offshore installations.

Private Jet Charter Services Market Leaders

  1. XOJET Aviation

  2. NetJets IP, LLC

  3. Air Charter Service Group Limited

  4. Gama Aviation PLC

  5. Thai Airways International Public Company Ltd. (THAI)

*Disclaimer: Major Players sorted in no particular order

Private Jet Charter Services Market Concentration

Private Jet Charter Services Market News

February 2023- Gama Aviation received a seven-year contract worth USD 79.99 million (GBP 65 million) to operate and maintain WAAC's primary fleet of four Airbus H145 helicopters, which fly from bases in Cardiff, Caernarfon, Dafen, and Welshpool. The operations will start from 1 January 2024. Under the contract, Gama Aviation will also maintain the charity's backup H145 helicopter.

May 2022- Jet Aviation announced that it signed a completion contract for a BBJ MAX 9. The design was created by an external designer and will be engineered, crafted, installed, and certified in-house at Jet Aviation.

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

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 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

    1. 5.1 By Aircraft Size

      1. 5.1.1 Light

      2. 5.1.2 Mid-size

      3. 5.1.3 Large

    2. 5.2 By Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

      2. 5.2.2 Europe

        1. 5.2.2.1 United Kingdom

        2. 5.2.2.2 France

        3. 5.2.2.3 Germany

        4. 5.2.2.4 Spain

        5. 5.2.2.5 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 India

        3. 5.2.3.3 Japan

        4. 5.2.3.4 Australia

        5. 5.2.3.5 Rest of Asia-Pacific

      4. 5.2.4 Latin America

        1. 5.2.4.1 Mexico

        2. 5.2.4.2 Brazil

        3. 5.2.4.3 Rest of Latin America

      5. 5.2.5 Middle East and Africa

        1. 5.2.5.1 United Arab Emirates

        2. 5.2.5.2 Saudi Arabia

        3. 5.2.5.3 South Africa

        4. 5.2.5.4 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 NetJets IP, LLC

      2. 6.2.2 Wheels Up Experience Inc.

      3. 6.2.3 XOJET Aviation

      4. 6.2.4 Flexjet, LLC

      5. 6.2.5 Jet Edge International

      6. 6.2.6 Paramount Business Jets

      7. 6.2.7 Jet Linx Aviation, LLC

      8. 6.2.8 Prime Jet LLC

      9. 6.2.9 JetOptions Private Jets, LLC

      10. 6.2.10 Luxury Aircraft LLC

      11. 6.2.11 Desert Jet

      12. 6.2.12 Air Taxi Service and Support LLC, d/b/a Linear AIr

      13. 6.2.13 Magellan Jets

      14. 6.2.14 Sentient Jet

      15. 6.2.15 Jettly, Inc.

      16. 6.2.16 Air Charter Service Group Limited

      17. 6.2.17 PrivateFly

      18. 6.2.18 Victor

      19. 6.2.19 Gama Aviation PLC

      20. 6.2.20 Jet Aviation Inc. (General Dynamics Corporation)

      21. 6.2.21 Lux Aviation Group

      22. 6.2.22 Globe Air AG

      23. 6.2.23 Luna Jet (Luna Aviation Group)

      24. 6.2.24 Jet Class

      25. 6.2.25 Executive Aviation Group (ExecuJet)

      26. 6.2.26 VistaJet

      27. 6.2.27 DeerJet

      28. 6.2.28 Club One Air

      29. 6.2.29 Executive Jets Asia Pte Ltd

      30. 6.2.30 Thai Airways International Public Company Ltd. (THAI)

      31. 6.2.31 Singapore Air Charter

      32. 6.2.32 Eastindo

      33. 6.2.33 Ojets Pte Ltd

      34. 6.2.34 MetroJet

      35. 6.2.35 Australian Corporate Jet Centers

      36. 6.2.36 Revesco Aviation Pty Ltd

      37. 6.2.37 Grupo Aereo Monterrey S.A (Magni Charter)

      38. 6.2.38 Flapper Technologia S.A

      39. 6.2.39 Argentina Jets

      40. 6.2.40 Royal Jet Group

      41. 6.2.41 JetEx

      42. 6.2.42 Global Jet Center

      43. 6.2.43 Insijets Ltd

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

Private Jet Charter Services Industry Segmentation

A charter flight allows users to rent a complete aircraft and choose departure and arrival times and locations. Unlike scheduled flights, seats can be purchased separately from a charter firm or as a part of a trip package by tour operators. Moreover, with the use of an air charter, a user can rent an all-inclusive aircraft and determine the time of arrival and departure at their convenience.

The Private Jet Charter Services Market is Segmented by aircraft size and geography. By aircraft size, the market is segmented into Light, Mid-size, and Large. By geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The report offers the market size in terms of value (USD) for all the abovementioned segments.

By Aircraft Size
Light
Mid-size
Large
By Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest of Latin America
Middle East and Africa
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle East and Africa

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Frequently Asked Questions

The Private Jet Charter Services Market is studied from 2018 - 2028.

The Private Jet Charter Services Market is growing at a CAGR of 10.3% over the next 5 years.

The Private Jet Charter Services Market is valued at 12 Billion USD in 2018.

The Private Jet Charter Services Market is valued at 21 Billion USD in 2028.

Asia Pacific is growing at the highest CAGR over 2018-2028.

North America holds highest share in 2022.

XOJET Aviation, NetJets IP, LLC, Air Charter Service Group Limited, Gama Aviation PLC, Thai Airways International Public Company Ltd. (THAI) are the major companies operating in Private Jet Charter Services Market.

Private Jet Charter Services Industry Report

Statistics for the 2023 Private Jet Charter Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Private Jet Charter Services analysis includes a market forecast outlook to for 2023 to (2023to2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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