Passenger Chartered Air Transport Market Estimated Growth Curve, Trends, Size, Share And Analysis Report 2024-2033

The passenger chartered air transport market size has grown strongly in recent years. It will grow from $54.05 billion in 2023 to $58.05 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to corporate travel demand, luxury and premium travel, event and entertainment industry, time efficiency and flexibility, group travel and special occasions.

The passenger chartered air transport market size is expected to see strong growth in the next few years. It will grow to $74.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to corporate events and incentive travel, personalized travel experiences, rise of high-net-worth individuals, increased awareness and marketing, global events and expositions. Major trends in the forecast period include corporate and business charter services, customizable travel packages, environmental sustainability initiatives, partnerships with luxury service providers, health and wellness-focused amenities.

Market Overview -
Passenger chartered air transport service refers to a mode of transportation for people that uses aircraft, such as planes and helicopters, to provide air transportation services for passengers, including non-scheduled(non-scheduled) air carriers, to facilitate fast travel with improved security and to be used in emergency operations.

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Luxury In The Skies Driving Factors Behind The Passenger-Chartered Air Transport Market
The increasing preference for private charters by ultra-high net worth individuals (UHNWI) is expected to drive the global passenger-chartered air transport market. Most UHNWI are inclined towards private charters rather than owning jets. In the Asia-Pacific, Australia leads the market with 57 charter jets for 27 billionaires, followed by Singapore, which has 30 charter jets for 28 billionaires. The prevalence of COVID-19 has also supported the growth of the market as the individual's travelling had to maintain social distance and the UHNWIs were looking for safe and customised travel options. The growing preference for private charters has contributed to the growth of the passenger-chartered air transport market.

Competitive Landscape -
Major companies operating in the passenger chartered air transport market report are Air Partner Plc, Delta Private Jets Inc., Jet Aviation AG, NetJets Aviation Inc, Flexjet LLC, Clay Lacy Aviation, Wheels Up Experience Inc., VistaJet Group Holding Ltd, Luxaviation Group, Travel Management Company Jets, Asia Jet Partners Ltd., Solairus Aviation, XO Global LLC, TAG Aviation, FlyExclusive, Jet Linx Aviation, Gama Aviation Plc, Executive Jet Management, Air Charter Service Group Ltd., Contour Aviation, GlobeAir AG, PrivateFly, ASIAN SKY GROUP, Deer Jet Co Ltd, Premiair Aviation Maintenance Pty. Ltd., Indamer Mjet Airport Private Limited, Líder Aviation, ZYB LILY JET, Asian Aerospace, Swift Air LLC, JetSuite, SmartJets LLC, Fly Victor, Jettly Inc.

Tailored Adventures In The Sky The Emergence Of Custom Chartered Jet Tours
A custom luxury vacation tour by chartered jet is a major trend gaining popularity in the global passenger chartered air transport market. People are prioritising travel, adventures, and unique experiences, and private chartered jet services are offering customised tours for groups of travellers on round-the-world tours as well. For instance, Abercrombie & Kent (A&K), a luxury travel company that provides round-the-world tours on all-first-class airliners, is now offering personalised tours through bizjet for up to 16 passengers.

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Key Segments -

The passenger chartered air transport market covered in this report is segmented -
1) By Type: Private Charter Services, Business Charter Services
2) By Size: Light Jets, Mid Sized Jets, Large Jets, Air Liner
3) By Capacity: Less than 10, 10-100, Greater than 100

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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