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Global Air Charter Services Market | Technavio's Analysts Forecast the Market to Register a Revenue of USD 7.35 Billion by 2024

Technavio (PRNewsfoto/Technavio)

News provided by

Technavio

Apr 21, 2021, 01:30 ET

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NEW YORK, April 21, 2021 /PRNewswire/ -- 

The "Air Charter Services Market" report has been added to Technavio's library which consists of more than 17000 reports from 150+ industries.

Technavio has announced its latest market research report Air Charter Services Market by Application and Geography - Forecast and Analysis 2020-2024
Technavio has announced its latest market research report Air Charter Services Market by Application and Geography - Forecast and Analysis 2020-2024

The air charter services market is poised to grow by USD 7.35 billion between 2020-2024, progressing at a CAGR of over 5% during the forecast period. 

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Due to factors like last-minute capacity, time shortages, and unforeseen applications, several companies have increased the volume of charters in cargo divisions. Moreover, the shipment of oversized products also boosts the demand for cargo charters. These factors lead to the increase in the adoption of air charter services, which in turn, drives the market.

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38% of the market's growth will originate from APAC during the forecast period. China is a crucial market for air charter services in APAC. Market growth in this region will be faster than the growth of the market in other regions. The air charter services market growth in APAC can be attributed to the presence of a large number of active airports and an increase in the number of charter flight hours.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.

Know About the Key Opportunities and Growth of Air Charter Services Market in Airlines Industry

https://www.technavio.com/report/air-charter-services-market-industry-analysis

The air charter services market is segmented by application (charter passenger, charter freight, and others) and geography (APAC, Europe, MEA, North America, and South America).

The market growth in the charter passenger segment will be slower than the growth of the market in the charter freight and other segments. As per the customer requirements, air charter operators should be capable of arranging aircraft charters ranging from helicopters, piston, turboprop, and jet aircraft, up to the larger regional passenger jets, narrow-body aircraft, and wide-body airliners. Charter operators use their expertise to offer the best suitable options, such as a short-haul business flight or an extended business trip. Moreover, the convenience of customers is the top priority of air charter operators.

The air charter services market is fragmented. The shift toward aircraft renting will create ample growth opportunities for market vendors.

Key Market Dynamics:

Market Drivers

  • Increasing demand for cargo charters
  • Shift toward aircraft renting
  • Introduction of membership programs

Market Challenges

  • Volatility in aviation fuel prices
  • Shortage of skilled pilots
  • Inadequate infrastructure and rising operational costs

Companies Mentioned

  • Air Charter Service Group Ltd.
  • Air Partner Plc
  • Asia Jet Partners Ltd.
  • ASIAN SKY GROUP
  • Delta Private Jets, Inc.
  • Flexjet LLC
  • Gama Aviation Plc
  • GlobeAir AG
  • NetJets Aviation Inc.
  • XO Global LLC

Related Reports on Industrials Industry Include:

Helicopter-based Transportation Market by End-user and Geography - Forecast and Analysis 2021-2025: The helicopter-based transportation market size has the potential to grow by USD 1.29 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 3.07%. To get extensive research insights: Receive FREE Sample Report in Minutes!

 Airfreight Forwarding Market by End-user and Geography - Forecast and Analysis 2020-2024: The airfreight forwarding market size has the potential to grow by 7.67 million tons during 2020-2024, and the market's growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth. To get extensive research insights: Receive  FREE Sample Report in Minutes!

Air Cargo Containers Market by End-user and Geography - Forecast and Analysis 2020-2024: The air cargo containers market size has the potential to grow by USD 199.04 million during 2020-2024, and the market's growth momentum will accelerate at a CAGR of 5.65%. To get extensive research insights: Receive FREE Sample Report in Minutes!

Helicopter Tourism Market by Type and Geography - Forecast and Analysis 2020-2024: The helicopter tourism market size has the potential to grow by USD 97.60 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period. To get extensive research insights: Receive FREE Sample Report in Minutes!

Key Topics Covered:

  • Executive Summary
  • Market Landscape
  • Market Sizing
  • Five Forces Analysis
  • Market Segmentation by Application
  • Customer landscape
  • Geographic Landscape
  • Vendor Landscape
  • Vendor Analysis
  • Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

Report: https://www.technavio.com/report/air-charter-services-market-industry-analysis

SOURCE Technavio

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