Air Charter Services Market (Type - Business Charter Services, and Private Charter Services; Application - Charter Passenger, and Charter Freight): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

A recent report published by Infinium Global Research on air charter services market provides in-depth analysis of segments and sub-segments in the global as well as regional air charter services market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional air charter services market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global air charter services market.

Market Insight:

The global air charter services market was valued at USD 27.64 billion in 2022 and is expected to reach USD 39.34 billion in 2030, with a CAGR of 3.98% during the forecast period 2023-2030.

Charter aircraft are unscheduled flights that are not part of a regular airline. One can rent an entire aircraft and can decide on the departure/arrival locations and times as per the requirement with a charter flight. The seats on charter flights can be sold individually through a charter company or by tour operators as a part of some travel packages which is not the case with scheduled flights. Moreover, travelers can also hire an entire charter individually or for an entire group. The industry provides services for air transit for passengers and cargo over regular routes and schedules. The choice to travel on your own schedule, access to thousands of airports & purging of long airport lines, the privacy of your own aircraft, and significant time savings contribute to the overall value of availing air charter services.

Large businesses and corporations usually account for a large proportion of the market’s revenue as such businesses are in the capacity to use charter flights to transport staff to and fro different work sites and meetings, as well as to transport goods exclusively. Companies mostly use chartered flights for their staff when the corporate profit is high and economic conditions are strong. The growth and demand in the air cargo market is a promising prospect for air cargo providers and cargo charter operators which is expected to fuel the market for air charter services over the forecast period. In recent times there has been an increase in the number of shipments being delivered by air owing to growing demand by customers for instant and timely delivery of their products. Major circumstances like time shortages, last-minute emergencies, and unanticipated applications have also led to a boost in the adoption of air charter and hence the rise of air charter services market size. The shortage of skilled/trained pilots along with a lack of technology experience is expected to hamper the market growth. The cost of air charter services’ R&D will further suppress the market's growth. The constant volatility of aviation fuel prices is a constraint on the growth of the market.

North America dominated the global aviation charter services market share owing to the increasing ease with which individuals can access private aircraft and the attractiveness of the air charter market in this region. The APAC air charter services market shows huge potential due to the rise in China’s economy making it the fastest-growing region along with the rising number of airports and the huge number of wealthy individuals and businesses in China. China offers attractive growth potential for the air charter services market. The liking for luxury travel has grown rapidly in the Middle-Eastern region owing to the presence of many high and ultra-high-net-worth individuals in the region. These factors are driving the demand for large-cabin and long-range business jets which offers high luxury and comfort resulting in a higher growth perspective. An economic boom followed by an increase in leisure travel demand is some of the factors seen driving the rise in the air charter services market in Europe.

Report Scope of the Air Charter Services Market:

Segment Covered

The report on global air charter services market covers segments such as type, and application. On the basis of type, the sub-markets include business charter services, and private charter services. On the basis of application, the sub-markets include charter passenger, and charter freight.

Companies Profiled:

The report provides profiles of the companies in the market such as Air Charter Service, NetJets IP, LLC, VistaJet, Wheels Up, FLEXJET, LLC., GlobeAir AG, Jet Aviation Inc., Jet Linx Aviation, and Other Companies.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the air charter services market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.