Chartered air transport refers to air transportation services that are booked and operated on a private basis, outside of scheduled commercial airline routes. These services cater to individuals or organizations that require flexible, customized air travel solutions for passengers or cargo.
The chartered air transport market consists of sales, by entities (organizations, sole traders, or partnerships), of chartered air transport that is widely used by high-net-worth individuals, corporations, sports teams, government agencies and logistics companies that need dedicated air transport for efficiency, privacy, or logistical reasons.
The global chartered air transport market was valued at $65,623.86 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 6.00%.
Strong Economic Growth In Emerging Markets
During the historic period, strong economic growth in emerging markets supported the chartered air transport market. As economies grow, multinational corporations, high-net-worth individuals and government entities require flexible and efficient travel options, boosting demand for private jets, air taxis and cargo charters. Infrastructure development and trade growth have increased the need for customized air transport solutions, particularly in regions with limited commercial airline connectivity. For example, according to Worldometer, a US-based reference website that provides counters and real-time statistics for diverse topics, in Brazil, gross domestic product (GDP) growth rate in 2022 was 2.90%, representing a change of $53.6 billion over 2021. Further, in India, GDP growth rate in 2022 was 7.00%, representing a change of $193.4 billion over 2021. Therefore, strong economic growth in emerging markets drove the chartered air transport market.
Expansion Of Charter Air Services For Premium And Flexible Travel
Major companies operating in chartered air transport market are focusing on innovative routes such as Penang-Hong Kong charter route services to capitalize on growing demand for premium travel, enhance regional connectivity, and cater to business and leisure travelers seeking flexible and direct flight options. The Penang-Hong Kong charter route refers to a non-scheduled air service operating between Penang International Airport (PEN) in Malaysia and Hong Kong International Airport (HKG). This route is typically offered by chartered air transport providers, including private jet operators and commercial airlines running seasonal or ad-hoc flights. For example, in October 2024, Raya Airways, a Malasia-based cargo airline, launched a new charter route connecting Penang, Malaysia, to Hong Kong, which commenced with its inaugural flight. The first flight took off from Penang International Airport on October 28, marking the beginning of this new route. This initiative is part of a long-standing collaboration between Raya Airways and DHL (US-based logistics brand), which has been ongoing for 14 years. Raya has developed a robust operational infrastructure to support DHL's time-sensitive logistics needs. Raya Airways also operates charter flights between Kuala Lumpur and both Hong Kong and Singapore for DHL.
The global chartered air transport market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 14.66% of the total market in 2023.
Chartered Air Transport Global Market Opportunities and Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global chartered air transport market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for chartered air transport? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The chartered air transport market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider chartered air transport market; and compares it with other markets.
The report covers the following chapters
- Introduction And Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by application and by end use.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis And Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size And Growth- Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by application and by end-use in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size And Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Key Mergers And Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments- Information on recent developments in the market covered in the report.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for chartered air transport providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 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 Corporation; Other End Users
- Companies Mentioned: NetJets IP LLC; Vista Global (VistaJet); DHL Aviation; Federal Express Corporation (FedEx); UPS Global
- Countries: Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria,; South Africa
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; chartered air transport indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.