LONDON--(BUSINESS WIRE)--Feb 4, 2020--
The air charter services market is poised to grow by USD 7.35 billion during 2020-2024, progressing at a CAGR of over 5% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled global air charter services market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Air Charter Services Market Analysis Report by Application (charter passenger, charter freight and others), Geography (North America, Europe, APAC, South America and MEA), and the Segment Forecasts, 2020-2024".
Rising demand for cargo charters and the introduction of membership programs is anticipated to boost the growth of the air charter services market.
One of the primary reasons for the increasing demand for cargo charters is the shipment of oversized and difficult to fit products in comparison to standard logistic containers and aircraft used by air cargo operators. In 2018, Air Charter Service (ACS), a UK-based aircraft charter company, reported a rise of 6% by volume of charters in its cargo division. Cargo charters are generally required as an aid for serving new global markets and act as a promising option for responding to sudden surges in demand. Thus, the increasing demand for cargo charters will drive the growth of the air charter services market during the forecast period.
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Major Five Air Charter Services Companies:
Air Charter Service Group Ltd.
Air Charter Service Group Ltd. has business operations under three divisions, such as aircraft charter brokerage, onboard courier services, and other travel services. The company offers air charter services to private charter owners.
Air Partner Plc
Air Partner Plc operates its business through four segments, namely commercial jets, private jets, freight, and consulting and training. The company offers a range of aircraft charter options, ranging from a one-off aircraft charter to a long term flight program, or an all-economy airliner to a VIP configured aircraft.
Asia Jet Partners Ltd.
Asia Jet Partners Ltd. has business operations under three segments, comprising of charter, management, and maintenance. The company provides private jet charter services through the charter business segment.
ASIAN SKY GROUP
ASIAN SKY GROUP operates the business through the following three segments: consultancy, aircraft listings, and charter services. The company offers air charter services through the charter services business segment.
Delta Private Jets, Inc.
Delta Private Jets Inc. has business operations under three segments, such as aircraft management, Delta jet center, and Tech service center. The company provides air charter services through its aircraft management business segment. In December 2019, the company partnered with Wheels Up to manage fleets of private aircraft. The partnership is to make private aviation accessible to more consumers and provide unparalleled travel options.
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Air Charter Services Application Outlook (Revenue, USD Billion, 2020-2024)
- Charter passenger
- Charter freight
Air Charter Services Regional Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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PUB: 02/04/2020 06:30 AM/DISC: 02/04/2020 06:30 AM