Report Overview

Global Air Charter Services Market Size - Industry Trends & Outlook Report 2027

Global Air Charter Services Market is estimated to be 36.4 Billion USD by 2027 from 26.1 Billion USD in 2020, at a CAGR of 4.9 % from 2021 to 2027. Air charter services are the industry of renting an entire aircraft. This service delivers air transit for travelers as well as cargo over regular routes and on regular schedules. An increase in the shipment of oversized and challenge to fit products plays an essential role in increasing demand for cargo charters, one of the primary factors increasing the air charter services market growth. Factors such as time shortages, last-minute capacity, and unexpected applications have also led to a causing the adoption of air charter, hence the rising request for the air charter services market.

The occurrence of many airports & general aviation aircraft and an increase in the number of charter flight hours significantly influence the development of the air charter services market throughout the forecast period. Further, the outline of membership programs in the air charter service and the rise in a shift toward aircraft renting is predictable to provide profitable opportunities for the market player of the air charter services market.

Global Air Charter Services Market: Market Outlook and Trends

Air charter service is a business idea where an aircraft or group of aircraft is provided under the rental procedure. Air charter service is a business ideal where a plane or group of aircraft is provided under the rental process. As contrasting to scheduled air services, such a model underlines renting individual private aircraft for crucial or time-sensitive cargo services, air ambulance service, and numerous other ad hoc air transportation.

Global Air Charter Services Market

Growth Drivers

Increase in the number of Airports

The existence of many airports & general aviation aircraft and a rise in the number of charter flight hours meaningfully affect the development of the air charter services market during the prediction period. Further, the overview of membership programs in the air charter service and increase in a shift toward aircraft renting is predictable to provide profitable chances for the market player of the air charter services market.

Rising demand for cargo charters 

Rising requests for cargo charters and the introduction of membership programs are expected to increase the development of the air charter services market. One of the primary reasons for the rising demand for cargo charters is the shipment of king-size and challenging to fit products in assessment to standard logistic containers and aircraft used by air cargo operators. Cargo charters are usually required as an aid for serving new global markets and act as a likely option for answering to sudden rushes in demand. Thus, the growing demand for cargo charters will drive the air charter services market's development during the forecast period.

Restraint

Aircraft manufacturers are required to experience product certification before launching a new model in the market. However, due to the lack of procedure competence in the certification processes, aviation experts delay certification. Security is the most vital parameters considered while providing certifications, where zero deviation is suitable. For manufacturers to reach this level, manifold tests and iterations are needed. This results in long periods to get sanctions. This adds to the postponement in the production procedure of the company, leading to market size loss.

Impact of COVID-19 in industry

The COVID-19 outbreak has affected the aviation industry unfavorably due to air travel limits on domestic and international flights over countries, resulting in the grounding of aircraft fleets and an unexpected dip in aircraft orders and deliveries in 2020. This is expected to harmfully affect the Air charter Services Market in the short term; slow recovery is predictable in Q1 of 2021. The aviation industry could take 2-3 years to improve from the financial possessions of COVID-19, foremost to lower air travel and passenger traffic likened to previous estimates.

Global Air Charter Services Market: Segmentation

Segment by Type, the Air Charter Services market is segmented into Private Charter Services, Business Charter Services, etc.

Segment by Application, the Air Charter Services market is segmented into Charter Passenger, Charter Freight. Requests for airfreight exports have been limited from landlocked emerging nations because most initiatives ship small volumes of low-value goods. The main exports shipped by air from emerging countries are cut flowers, electronic parts, and fresh fruits and vegetables. Imports by air characteristically include high-value consumer goods. However, without a vital outbound flow, the inbound airfreight rates are higher, reducing the types and amounts of air transported.

Global Air Charter Services Market: Regional Insights

The Asia-Pacific will lead to more market share in the next years, particularly in China, also fast rising Southeast Asia regions and India. North America, particularly The United States, will play a significant role, which cannot be overlooked. Any deviations from the United States might affect the growth trend of Air Charter Services.

Competitive landscape

The leading players in the Global Air Charter Services Market include VistaJet, Corporate Flight Management, Air Partner, Luxaviation, Deer Jet, Jet Aviation, BAA, Delta Private Jets, TMC Jets, Gama Aviation, LILY JET, Solairus Aviation, TAG Aviation, MJets, GlobeAir, PrivateFly, Executive Jet Management, Clay Lacy Aviation, Jet Linx Aviation, Líder Aviatio, Nanshan Jet, Asian Aerospace, Stratos Jet Charters, Deccan Charters, Phenix Jet, Eastern Jet, Air Charters India, Premiair, Shizuoka Air, Club One Air, and other prominent players.

Recent Developments

• NEW YORK, November 9, 2020 – Ross Wine Tours LLC (RWT) announced an exclusive global partnership with Clay Lacy Aviation (CLA), an international, award-winning leader in private luxury jet travel.
• December 12, 2019 - Delta and Wheels Up Partner to Make Private Aviation More Accessible to Individual and Corporate Customers

Scope of the Report

·         By Type

ü  Private Charter Services

ü  Business Charter Services

·         By Application

ü  Charter Passenger

ü  Charter Freight

·         By Region

ü  North America

ü  Europe

ü  Asia Pacific

ü  South America

ü  Middle East & Africa

The objective of the Study:

Ø  To analyze and forecast the Global Air charter Services Market size of the market in terms of value.

Ø  To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.

Ø  The Global Air Charter Services Market segmented into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.

Ø  To outline, categorized, and forecast the Global Air charter Services Market based on By Type, By Application and By Region.

Ø  To examine competitive developments, like By Type, By Application and By Region within the Global Air charter Services Market.

Ø  To highlight the impact analysis of the factors affecting the market dynamics such as growth drivers.

Ø  To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Business Questions Answer by the Report

Ø  How will the market drivers, restraints, and opportunities affect the market dynamics?

Ø  What will be the market size in terms of value and volume and market statistics with a detailed classification?

Ø  Which segment dominates the market or region, and one will be the fastest - growing, and why?

Ø  A comprehensive survey of the competitive landscape and the market participant players

Ø  Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Client

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

•    With five additional company detail analysis

•    Additional country analysis

•    Detailed segment analysis