Chartered air transport services market comprises of sales of chartered air transportation services & related goods by entities (sole traders, organizations and partnerships) that use aircraft, for instance airplanes and helicopters, to provide the non-scheduled or chartered air transportation services for passengers or cargo at a toll per-mile or per hour for the charter of the aircraft. The chartered air transportation market is generally categorized into freight chartered air transport, passenger chartered air transport and other chartered air transport. Some of the key benefits of chartered air services are privacy, efficiency, convenience or expediency, security, flexibility, customization, time-saving, comfort, and choice.
Referring to study, “Chartered Air Transport Global Market Report 2020-30: Covid 19 Impact and Recovery” global chartered air transport market is vastly fragmented with the presence of a wide number of major market players working worldwide. These leading companies are Netjets, Xojet, Onesky Jets, Vistajet, Bluestar Jets.
By type, chartered air transport market is segregated as affinity, private charter, public charter and single entity charter. Affinities are generally purchased by any organization or a club for its members whereas public charters are purchased by a tour operator or travel agent. By application, market is segregated as freight chartered air transport, passenger chartered air transport and others chartered air transport. In addition, based on end-use, market is segregated as sports teams, wealthy individuals and large corporations.
The chartered air transport market is driven by increase in use of wearable technologies. Some other driven factors are rise in travel by millennial population, rapid urbanization, growth of tourism sector, and increase in number of high net worth individuals (HNWI). Wearable technologies improve the operational competence, maintenance, and to offer add-on entertainment to the passengers. These technologies include use of smart phones, near-field communication (NFC) smart glasses, smart watches, personal electronic devices, and Bluetooth technology to improve & simplify the passenger experience. These technologies assist passengers to improve the safety & efficiency, receive updates & information related to their flight. They are proficient of helping pilot, crew members and maintenance team for monitoring the gas concentrations and levels of noise & temperature to avoid mishaps. A smart watch allows the passengers to upload their ticket-related information on these devices. However, outbreak of the Coronavirus disease (COVID-19), geopolitical conflict or security events and increase in terrorist attacks may impact the market. Moreover, growth in technological innovations and increase in online ticketing platform are major trends for market.
By geography, the global chartered air transport market is segregated as North-America, Europe, Asia-pacific and rest of the world. The North-American region holds major share in global market owing to increase in demand for military in the region. The Asian-Pacific and European regions are likely to witness higher CAGR due to rise in demand for cargo charters and increase in per capita household income over the forecast period. It is projected that future of the global chartered air transport market will be bright on account of increase in ancillary services revenues for instance pick up and lounge services during the forecast period.
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Global Chartered Air Transport Market
Related Report:-
Chartered Air Transportation Global Market Report 2019
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