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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