Charter air transportation is the business of renting an entire aircraft as opposed to individual aircraft seats. Charter air transport serves various on-demand air taxi services with their own fleet. These air transportations require certification from the associated country’s regulating body for instance the FAA (Federal Aviation Administration) in the U.S. Chartered air transportation is an unscheduled flight which is not a part of regular airline routing. With a charter flight, person or individual rent the entire aircraft and can decide departure or arrival locations or times. The key benefits are privacy, greater flexibility, convenient and have many entertainment options such as high end sound or entertainment systems with iPhone or Android hook-ups, free WiFi, and satellite TV.
According to study, “Chartered Air Transportation Global Market Report 2019” the key companies operating in the global chartered air transportation market are Xojet, Vistajet, Netjets, Bluestar Jets, Onesky Jets, Air Charter Service, Gama Aviation, Delta Private Jets, Air Partner, VistaJet, Luxaviation, Jet Aviation, TMC Jets, Deer Jet, Corporate Flight Management, BAA, Executive Jet Management, TAG Aviation, Lider Aviatio, LILY JET, PrivateFly, GlobeAir, Jet Linx Aviation, Clay Lacy Aviation, Solairus Aviation, MJets, Asian Aerospace, Club One Air, Premiair, Deccan Charters, Eastern Jet, Nanshan Jet, Stratos Jet Charters, Phenix Jet, Shizuoka Air, Air Charters India.
Based on type, global chartered air transportation market is segmented into private charter, affinity, single entity and public charter. Affinities are purchased by a club or other organization for its members while public charters are purchased by a travel agent or a tour operator. Based on categories, market is segmented into seaplanes, light jets, turbo props, mid-cabin jets, super mid-cabin jets, VIP airlines and larget & ultra long-range jets. Based on services, market is segmented into jet card, air charter broker and charter operators. Based on application, market is segmented into freight chartered air transportation, passenger chartered air transportation and others. In addition, based on end-use, market is segmented into wealthy individuals, sports teams, and large corporations.
The chartered air transportation market is driven by rise in demand for cargo charters, followed by increase in disposable income and growth in corporate profits resulting in increased frequency of travel through chartered air transportation. However, stringent government regulations on air traffic, volatility in aviation fuel prices and lack of awareness of consumer may impact the market. In addition, an online ticketing platform is a key trend for the market. With these online ticketing platforms, consumers can book a charter plane according to their convenience. BookMyCharters, Stratajet and Flyvictor, are some of the online chartered flight booking websites.
Based on geography, the North-American region holds major share in chartered air transportation market, followed by Asian-Pacific region owing to increase in per capita household income and rise in demand for military in the region. With increase in ancillary services revenues such as lounge and pick up services provided by the chartered air transportation service providers worldwide, the scope for the market is projected to increase in the forecast period.
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Ankur Gupta, Head Marketing & Communications