Chartered Air Transport Market Trends
The Chartered Air Transport Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Chartered Air Transport Global Market Report 2024, The chartered air transport market size has grown strongly in recent years. It will grow from $87.99 billion in 2023 to $95.66 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to corporate travel demand, luxury travel and tourism, emergency and medical evacuations, military and government contracts, remote access and exploration.
The chartered air transport market size is expected to see strong growth in the next few years. It will grow to $131.14 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to private aviation membership programs, flexible travel schedules, destination events, security and privacy concerns, personalized in-flight services. Major trends in the forecast period include ultra-long-range business jets, technology integration for efficienc, flexible booking and pricing models, integration of supersonic jets, partnerships and alliances in the industry.
Technology is expected to be a continued driver of the chartered air transportation services market’s growth during the forecast period. Sectors such as transportation services will benefit from the greater efficiencies offered by technological advances. Technologies such as aircraft telematics relay engine information via satellite to manufacturers and maintenance teams on the ground to minimize time on the tarmac, reducing flight turnaround times and increasing the efficiencies of airlines. Several technologies such as big data, machine learning, and predictive analytics are also being used to increase efficiencies and align business strategies. Big data uses a combination of real-time information, historical trends, and clever algorithms to translate car speeds, weather conditions, and sources of acceleration and deceleration for road operators. Adoption of technology will drive the chartered air transportation services market going forward.
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The chartered air transport market covered in this report is segmented –
1) By Type: Passenger Chartered Air Transport, Freight Chartered Air Transport, Other Chartered Air Transport
2) By Application: Private Charter, Affinity, Single Entity, Public Charter
3) By End Use: Wealthy Individuals, Sports Teams, Large Corportations
Airlines are actively making use of wearable technology to enhance operational efficiency, maintenance, and to provide add-on entertainment to passengers. Wearable technology includes the use of smartphones, personal electronic devices, smart glasses, smartwatches, near-field communication (NFC), and Bluetooth technology to improve and simplify the passenger experience. These technologies help passengers improve safety and efficiency, and receive updates and information related to their flight. They are capable of helping pilots, crew members, and maintenance teams monitor gas concentrations, levels of noise, and temperature to avoid mishaps. Smartwatches allow passengers to upload their ticket-related information on these devices. About 77% of the 6,000-plus passengers surveyed in a study said they would be comfortable with the use of wearable technology to help them during their journey. Some companies making use of such wearable technologies include Virgin Atlantic, Japan Airlines, EasyJet, and British Airways.
The chartered air transport market report table of contents includes:
1. Executive Summary
2. Chartered Air Transport Market Characteristics
3. Chartered Air Transport Product/Service Analysis -Product/Service Examples
4. Chartered Air Transport Market Trends And Strategies
5. Chartered Air Transport Market – Macro Economic Scenario
…..
68. Global Chartered Air Transport Market Competitive Benchmarking
69. Global Chartered Air Transport Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Chartered Air Transport Market
71. Chartered Air Transport Market Future Outlook and Potential Analysis
72. Appendix
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