Europe Charter Jet Services Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 4.36 Billion |
| Market Size (2029) | USD 6.98 Billion |
| CAGR (2024 - 2029) | 9.89 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Charter Jet Services Market Analysis
The Europe Charter Jet Services Market size is estimated at USD 4.36 billion in 2024, and is expected to reach USD 6.98 billion by 2029, growing at a CAGR of 9.89% during the forecast period (2024-2029).
Europe's private jet charter market is set for robust growth in the coming years. This growth is primarily attributed to the rising number of private jets and the region's introduction of new networks, services, and aircraft programs.
Europe's affinity for luxury travel is on the rise, driven by its substantial population of high-net-worth individuals (HNWIs). The continent boasts numerous exclusive and picturesque destinations, often inaccessible via commercial flights. Private charter clientele spans from families and business executives to sports teams and individuals marking special occasions.
After hitting historic lows in early 2020, jet fuel prices have surged to record highs in recent years. This spike is largely fueled by events like the Russia-Ukraine conflict. Moreover, as European governments tighten their CO2 emission regulations and impose stricter norms on private jet charters, including compliance with international aviation standards from bodies like the ICAO and EASA, the market's growth might face some constraints. Nonetheless, the market's overall outlook remains positive during the forecast period.
Europe Charter Jet Services Market Trends
Light Jet Segment Expected to Showcase Remarkable Growth
- In recent years, Europe has witnessed a notable uptick in the demand for light jets. This surge can be attributed to the flexibility and convenience these aircraft offer. On average, most business aviation trips within Europe accommodate 4-6 passengers, covering distances of 600-800 nautical miles. Given that the majority of city pairs in Europe are less than 1,000 nm apart, light jets present a cost-effective and time-efficient travel option for such journeys. The rising number of high-net-worth individuals in the region seeking seamless point-to-point connectivity further cements the position of light jets as the aircraft of choice.
- Light jets in Europe have gained popularity primarily due to their adaptability to diverse travel needs. Compared to their larger counterparts, these jets offer enhanced cost-efficiency and the flexibility to land on smaller runways. Consequently, they have become the preferred choice for business travelers, especially those requiring access to remote or underserved airports. By December 2023, Europe boasted around 286 operational light private charter jets. Notably, Textron Aviation's Cessna dominated the market, capturing a significant 78% share by supplying various light models to charter service providers. Leading the pack were Cessna's Citation CJ2+, CJ2, along with Bombardier's Learjet 525, CJ3, and CJ4. These trends are poised to fuel further demand in this market during the forecast period.
Germany to Dominate the Market During the Forecast Period
- Germany leads Europe as the largest charter service jet market, boasting an 18% share of the active fleet. The country's private aviation sector has seen significant growth, driven by an expanding network of air charter services and a rising number of UHNWIs. Germany's UHNWI count climbed from 28,711 in 2022 to 29,021 in 2023, marking a 1.1% increase. The COVID-19 pandemic catalyzed a shift toward private flying among the ultra-wealthy in the region, further fueling the demand for business aircraft in Germany.
- By December 2023, large jets dominated the market at 62%, with light, heavy, and mid-size jets following closely at 19% each. Textron Aviation, Embraer, and Bombardier collectively controlled over 72% of the operational business jet fleet for charter services. Air Hamburg Luftverkehrs GmbH, a Vistajet subsidiary, emerged as one of the nation's leading charter operators, commanding a 10% share of the active fleet.
- Major players in Germany are increasingly procuring new-generation business aircraft to cater to a growing clientele. A prime example is Hahn Air, which, in October 2023, announced its role as the launch customer for Textron’s latest offering, the Citation CJ3 Gen2 light jet in Europe. Hahn Air's plans include phasing out its current CJ3+ and Latitude models in favor of these new acquisitions, with both slated for delivery by 2026. With this surge in new aircraft acquisitions and a rising demand for business jets, Germany's private jet charter market is poised for substantial growth during the forecast period.
Europe Charter Jet Services Industry Overview
The European private jet charter market is fragmented due to the presence of a diversified fleet. Several big and small operators are vying for market share by enhancing their current clientele. VistaJet Group Holding Limited, Jet Aviation AG, Luxaviation Management Company, Fly Victor Limited, and PrivateFly Limited are some of the major players.
Various players in the market are now upgrading their fleets by purchasing additional aircraft to meet the requirements of their customers and increase their customer base. This, in turn, is expected to lead to major players expanding their business network by catering to the growing number of clients. Furthermore, players also provide membership schemes and new packages for their clients to gain significant market share in the long run. Furthermore, the growing demand for private jets within Europe has opened business opportunities for various international players to commence operations in Europe, thereby leading to growth in competition within the region.
Europe Charter Jet Services Market Leaders
-
VistaJet Group Holding Limited
-
Jet Aviation AG
-
Luxaviation Management Company
-
Fly Victor Limited
-
PrivateFly Limited
*Disclaimer: Major Players sorted in no particular order
Europe Charter Jet Services Market News
- June 2023: Bombardier officially delivered its inaugural Challenger 3500 aircraft, earmarked for European operations. Aero-Dienst intends to manage this super-midsize business jet on behalf of Aviator Aircraft.
- May 2023: Bombardier announced the European debut of its award-winning Challenger 3500 business jet. The Challenger 3500 is the sole business jet in the industry, boasting an Environmental Product Declaration (EPD).
Europe Charter Jet Services Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 By Aircraft Type
- 5.1.1 Light Jets
- 5.1.2 Mid-size Jets
- 5.1.3 Large Jets
-
5.2 By Geography
- 5.2.1 United Kingdom
- 5.2.2 France
- 5.2.3 Germany
- 5.2.4 Switzerland
- 5.2.5 Italy
- 5.2.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
-
6.2 Company Profiles
- 6.2.1 VistaJet Group Holding Limited
- 6.2.2 GlobeAir AG
- 6.2.3 Jet Aviation AG
- 6.2.4 Luxaviation Management Company
- 6.2.5 Fly Victor Limited
- 6.2.6 PrivateFly Limited
- 6.2.7 TAG Aviation
- 6.2.8 NetJets Services Inc.
- 6.2.9 XO Global LLC
- 6.2.10 FAI Aviation Group
- 6.2.11 Cat Aviation AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Charter Jet Services Industry Segmentation
A chartered flight is an unscheduled flight that is not part of a regular airline's routing. Different companies that provide the services to fly individuals or groups of people via unscheduled flights constitute the charter jet services market. Moreover, as a private jet charter aircraft is not part of a scheduled aircraft service, individuals who own a private jet charter aircraft have the convenience of traveling at their specific timings.
The European private jet charter market is segmented by aircraft type and geography. By aircraft type, the market is segmented into light jets, mid-size jets, and large jets. The report also covers the market sizes and forecasts for the European private jet charter market in major countries. For each segment, the market size is provided in terms of value (USD).
| By Aircraft Type | Light Jets |
| Mid-size Jets | |
| Large Jets | |
| By Geography | United Kingdom |
| France | |
| Germany | |
| Switzerland | |
| Italy | |
| Rest of Europe |
Europe Charter Jet Services Market Research FAQs
How big is the Europe Charter Jet Services Market?
The Europe Charter Jet Services Market size is expected to reach USD 4.36 billion in 2024 and grow at a CAGR of 9.89% to reach USD 6.98 billion by 2029.
What is the current Europe Charter Jet Services Market size?
In 2024, the Europe Charter Jet Services Market size is expected to reach USD 4.36 billion.
Who are the key players in Europe Charter Jet Services Market?
VistaJet Group Holding Limited, Jet Aviation AG, Luxaviation Management Company, Fly Victor Limited and PrivateFly Limited are the major companies operating in the Europe Charter Jet Services Market.
What years does this Europe Charter Jet Services Market cover, and what was the market size in 2023?
In 2023, the Europe Charter Jet Services Market size was estimated at USD 3.93 billion. The report covers the Europe Charter Jet Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Charter Jet Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Charter Jet Services Industry Report
Statistics for the 2024 Europe Charter Jet Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Charter Jet Services analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
