Passenger Chartered Air Transport Market Report 2025

The passenger chartered air transport market size has grown strongly in recent years. It will grow from $54.22 billion in 2024 to $58.32 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to corporate travel demand, luxury and premium travel, event and entertainment industry, time efficiency and flexibility, group travel and special occasions.

The passenger chartered air transport market size is expected to see strong growth in the next few years. It will grow to $78.76 billion in 2029 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to corporate events and incentive travel, personalized travel experiences, rise of high-net-worth individuals, increased awareness and marketing, global events and expositions. Major trends in the forecast period include corporate and business charter services, customizable travel packages, environmental sustainability initiatives, partnerships with luxury service providers, health and wellness-focused amenities.

The forecast of 7.8% growth over the next five years remains unchanged from the previous projection for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. Chartered air services may face margin pressures as tariffs on luxury aircraft interiors and maintenance equipment drive up operational costs. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.

The global passenger-chartered air transport market is expected to be propelled by the increasing preference for private charters among ultra-high net worth individuals (UHNWI). Many UHNWIs prefer private charters over jet ownership, with Australia leading the Asia-Pacific market in charter jets, followed by Singapore. The COVID-19 pandemic has further supported market growth as individuals sought safe and customized travel options, maintaining social distance. The rising trend of private charters significantly contributes to the expansion of the passenger-chartered air transport market.

The growth of the global passenger-chartered air transport market is anticipated to be driven by the increasing number of business trips. Business trips, undertaken for work-related purposes, often require individuals to travel to multiple cities within a short timeframe. Chartered air transport offers a swift and efficient solution for such travel needs. According to August Finances online, there are approximately 445 million business trips annually, and this number is expected to reach US$829.5 billion by 2027. Consequently, the surge in business trips is expected to be a key factor contributing to the growth of the passenger-chartered air transport market.

The fluctuating prices of fuel pose a potential hindrance to the growth of the passenger-chartered air transport market. Increasing fuel prices directly impact the operating costs of charter flights, leading to higher rental prices for these flights. As reported by the Poynter Institute in November 2022, global jet fuel prices are projected to increase from $2.3 per gallon at the end of 2021 to at least $3.45 per gallon. The unpredictability in fuel prices is expected to have a notable impact on the growth trajectory of the passenger-chartered air transport market.

A custom luxury vacation tour by chartered jet is a major trend gaining popularity in the global passenger chartered air transport market. People are prioritising travel, adventures, and unique experiences, and private chartered jet services are offering customised tours for groups of travellers on round-the-world tours as well. For instance, Abercrombie & Kent (A&K), a luxury travel company that provides round-the-world tours on all-first-class airliners, is now offering personalized tours through bizjet for up to 16 passengers.

Major companies operating in the passenger chartered air transport market are innovating new products, such as the use of app that uses voice technology to increase their profitability in the market. The use of apps makes it easy for customers to search for flights, compare prices, and make bookings with just a few taps. For instance, in July 2023, Jet Token, now known as Jet.AI, a US-based software and aviation company that provides technology solutions to the private aviation industry, launched a CharterGPT charter booking app utilizing voice technology. The app allows users to inquire about flights, receive estimated pricing, and obtain information on specific aircraft. The app is expected to integrate with Stripe for payments and offer recommendations on ground transportation and efficient airport locations.

In May 2023, Eastern Air Holdings, a US-based airways company acquired Hillwood Airways for an undisclosed amount. With this acquisition, Eastern Airlines strengthens its portfolio and continue to provide premier customer experiences in the charter airline business. Hillwood Airways is a US-based chartered airlines.

Major companies operating in the passenger chartered air transport market include Air Partner Plc, Delta Private Jets Inc., Jet Aviation AG, NetJets Aviation Inc, Flexjet LLC, Clay Lacy Aviation, Wheels Up Experience Inc., VistaJet Group Holding Ltd, Luxaviation Group, Travel Management Company Jets, Asia Jet Partners Ltd., Solairus Aviation, XO Global LLC, TAG Aviation, FlyExclusive, Jet Linx Aviation, Gama Aviation Plc, Executive Jet Management, Air Charter Service Group Ltd., Contour Aviation, GlobeAir AG, PrivateFly, ASIAN SKY GROUP, Deer Jet Co Ltd, Líder Aviation, ZYB LILY JET, Swift Air LLC, JetSuite, SmartJets LLC, Fly Victor, Jettly Inc.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp rise in U.S. tariffs and the resulting trade tensions in spring 2025 are having a considerable impact on the transport services sector by increasing the costs of vehicles, spare parts, and fuel - critical inputs frequently imported from tariff-affected regions. Freight operators, logistics companies, and public transportation providers are experiencing margin pressures as elevated equipment and maintenance expenses coincide with limited flexibility to pass these costs on to customers due to intense market competition. This climate of uncertainty has also led to delays in fleet upgrades and the adoption of greener, more energy-efficient vehicles, hindering progress toward sustainability objectives. In response, transport firms are enhancing route optimization, investing in fuel-efficient technologies, renegotiating supplier agreements, and adopting collaborative logistics strategies to share resources and cushion the financial impact of rising tariffs.

The passenger chartered air transport market research report is one of a series of new reports that provides passenger chartered air transport market statistics, including passenger chartered air transport services industry global market size, regional shares, competitors with a passenger chartered air transport market share, detailed passenger chartered air transport market segments, market trends and opportunities, and any further data you may need to thrive in the passenger chartered air transport services industry. The passenger chartered air transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Passenger chartered air transport service refers to a mode of transporting people that utilizes aircraft, such as planes and helicopters, to provide air transportation services for passengers. This includes non-scheduled air carriers, aiming to facilitate swift travel with enhanced security and to be utilized in emergency operations.

The primary categories of passenger-chartered air transport covered in this report include private charter services and business charter services. Private charter services involve situations where an individual has the option to rent an entire aircraft from a commercial airline. This segment is further categorized by size into light jets, mid-sized jets, large jets, and airliners. The market coverage is segmented by capacity into less than 10, 10-100, and greater than 100.

North America was the largest region in the passenger chartered air transport market in 2024. Asia-Pacific was the second largest region in the global passenger chartered air transport market share. The regions covered in the passenger chartered air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the passenger chartered air transport market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The passenger air transport services market includes revenues earned by entities that transport passengers from one location to another in a short period of time while also improving security. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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