Passenger Chartered Air Transport Global Market Report 2023: Preferences of Ultra-High Net Worth Individuals Fuel Sector

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Feb 15, 2023, 11:40 ET

DUBLIN, Feb. 15, 2023 /PRNewswire/ -- The "Passenger Chartered Air Transport Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global passenger chartered air transport market will grow from $49.14 billion in 2022 to $52.62 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The passenger chartered air transport market is expected to grow to $66.83 billion in 2027 at a CAGR of 6.2%.

North America was the largest region in the passenger chartered air transport market in 2022. Asia Pacific was the second largest region in the passenger chartered air transport market. The regions covered in the passenger chartered air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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.

Fluctuating fuel prices are expected to hinder the growth of the passenger-chartered air transport market. An increase in fuel prices increases the operating costs of charter flights, which increases the rental price of charter flights. For instance, in November 2022, according to a report published by the Poynter Institute, a US-based research organization, the jet fuel price will increase from $2.3 per gallon at the end of 2021 to at least $3.45 per gallon across the globe. Therefore, sudden fluctuations in price are expected to impact the growth of the passenger-chartered air transport market.

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.

In March 2020, Wheels Up, a leader in total aviation solutions, acquired Gama Aviation for an undisclosed amount. The acquisition will increase Wheels Up's fleet with more than 300 planes owned and operated. Gama Aviation is a leading private aviation services company that provides aircraft management, private jet charter, and ancillary support for its managed aircraft.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Scope
Markets Covered:

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 Topics Covered:

1. Executive Summary

2. Passenger Chartered Air Transport Market Characteristics

3. Passenger Chartered Air Transport Market Trends And Strategies

4. Passenger Chartered Air Transport Market - Macro Economic Scenario

5. Passenger Chartered Air Transport Market Size And Growth

6. Passenger Chartered Air Transport Market Segmentation

7. Passenger Chartered Air Transport Market Regional And Country Analysis

8. Asia-Pacific Passenger Chartered Air Transport Market

9. China Passenger Chartered Air Transport Market

10. India Passenger Chartered Air Transport Market

11. Japan Passenger Chartered Air Transport Market

12. Australia Passenger Chartered Air Transport Market

13. Indonesia Passenger Chartered Air Transport Market

14. South Korea Passenger Chartered Air Transport Market

15. Western Europe Passenger Chartered Air Transport Market

16. UK Passenger Chartered Air Transport Market

17. Germany Passenger Chartered Air Transport Market

18. France Passenger Chartered Air Transport Market

19. Eastern Europe Passenger Chartered Air Transport Market

20. Russia Passenger Chartered Air Transport Market

21. North America Passenger Chartered Air Transport Market

22. USA Passenger Chartered Air Transport Market

23. South America Passenger Chartered Air Transport Market

24. Brazil Passenger Chartered Air Transport Market

25. Middle East Passenger Chartered Air Transport Market

26. Africa Passenger Chartered Air Transport Market

27. Passenger Chartered Air Transport Market Competitive Landscape And Company Profiles

29. Key Mergers And Acquisitions In The Passenger Chartered Air Transport Market

29. Passenger Chartered Air Transport Market Future Outlook and Potential Analysis

30. Appendix

A selection of companies mentioned in this report includes

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
VistaJet Group Holding Ltd.
Deer Jet Co. Ltd.
TMC Jets
Jet Aviation AG
Luxaviation
Contour Aviation
TAG Aviation
Executive Jet Management
Lider Aviatio
PrivateFly
LILY JET
GlobeAir
Jet Linx Aviation
Solairus Aviation
Clay Lacy Aviation
MJets
Asian Aerospace
Premiair

For more information about this report visit https://www.researchandmarkets.com/r/gmia79

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