Global Air Charter Services Market
The market for air charter services is poised to grow 7.35 billion USD between 2020 and 2024, progressing at a CAGR of over 5% during the forecast period.
Due to factors such as last minute capacity, time shortages and unforeseen applications, several companies have increased charter volume in freight divisions. In addition, shipping oversized products also increases the demand for freight charter. These factors are leading to an increase in the adoption of air charter services which, in turn, is driving the market.
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38% of the market growth will come from APAC during the forecast period. China is a crucial market for air charter services in the APAC region. The market growth in this region will be faster than the market growth in other regions. The growth of the air charter services market in the APAC region can be attributed to the presence of a large number of active airports and an increase in the number of charter flight hours.
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To know the key opportunities and growth of the Air Charter Services market in the airline industry
The air charter services market is segmented by application (charter passengers, charter freight, etc.) and by geography (APAC, Europe, MEA, North America, and South America).
Market growth in the charter passenger segment will be slower than that of the charter freight market and other segments. In accordance with customer requirements, air charter operators should be able to arrange charter flights ranging from helicopters, piston planes, turboprop and jets, to larger regional passenger jets, narrow-body airplanes and wide-body airliners. Renters use their expertise to offer the best suitable options, such as a short-haul business flight or an extended business trip. In addition, the convenience of customers is the top priority of air charter operators.
The air charter services market is fragmented. The shift to aircraft leasing will create many growth opportunities for market vendors.
Key market dynamics:
- Growing demand for freight charters
- Switching to aircraft leasing
- Introduction of membership programs
- Aviation fuel price volatility
- Shortage of qualified pilots
- Inadequate infrastructure and rising operational costs
- Air Charter Service Group Ltd.
- Air Partner Plc
- Asia Jet Partners Ltd.
- ASIAN SKY GROUP
- Delta Private Jets, Inc.
- Flexjet LLC
- Gama Aviation Plc
- GlobeAir AG
- NetJets Aviation Inc.
- XO Global LLC
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Main topics covered:
- Market landscape
- Market sizing
- Five forces analysis
- Market segmentation by application
- Customer landscape
- Geographical landscape
- Vendor Landscape
- Supplier analysis
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