Summary
The global private jet market, mainly driven by private jet rentals and valued at $25.87 billion in 2021, is anticipated to grow at a CAGR of 4.06% from 2022 to 2029, leading to a projected market size of $38.13 billion by 2029. This growth is fueled by the increasingly luxurious travel preferences of multinationals and high-net-worth individuals, with the United States and Europe together accounting for the majority of market activity. The Covid-19 pandemic has boosted demand as private travel offers reduced health risks and fewer restrictions, with companies like Vista Jet witnessing a 50% increase in customers between 2020 and 2021. France, as Europe's top market for private jet movements, has similarly experienced revitalization, especially at Paris Le Bourget airport. Although the sector faces challenges due to environmental concerns and a potential first-class collapse in commercial flights, companies are responding with innovations such as eco-friendly fuel alternatives and electric or hydrogen-powered aircraft. Despite manufacturing and capacity hurdles, such as delivery delays due to component shortages, the industry is positioned for continued growth as wealth concentrations increase, with billionaires showing a 263% rise for 2022.
Dynamics of Private Jet Demand in the French Market
The French private jet market has experienced significant growth in recent years, stemming from a combination of factors such as the search for exclusivity, convenience, and the impact of the Covid-19 pandemic on travel behaviors. Notably, France has emerged as Europe's premier market for private jet movements, with bustling activity concentrated largely in the Ile-de-France and Provence-Alpes-Côte D'azur regions. The appeal of airports such as Paris Le Bourget, which saw more than 48,000 movements in one year alone, highlights the market's vitality. An uptick in activity has produced a rebound effect following a difficult period for the aviation industry as a whole.
Reports indicate a surge in private jet travel, with increases between 25% to 60% in requests for private flights compared to the previous year. This demand is driven primarily by business travel, where multinational corporations and high-net-worth individuals seek the privacy and efficiency that private jets can provide. The market is seen as a reliable alternative to commercial flights, especially given its perks such as fewer passengers, more flexible departure times, and limited points of contact, which are particularly valuable in an era where health and safety are paramount. In examining the broader global context, the private jet market reflects a compound annual growth rate estimated between 3% and 5%. This growth is mirrored in France, where market recovery has been swift, aided by the demand for business travel.
Although the high costs associated with private travel were once a barrier, the emergence of new customer segments and the trend of sharing flights among multiple travelers have begun to counterbalance these concerns. Despite the resurgence, the private jet sector must contend with the pressing issue of environmental impact. With emissions five to fourteen times higher than commercial flights and up to fifty times more than trains, eco-conscious solutions are increasingly sought after. Industry players have begun to explore alternatives such as biofuels, electric or hydrogen-powered engines, and more ecologically sound production methods. Collaborative efforts between airlines and ecological organizations aim to soften the environmental footprint and align with the greener demands of the public.
In summary, the French private jet market, representing a multi-billion dollar sector, has demonstrated resilience and adaptability amidst global challenges. It continues to ride the wave of new client behavior and environmental innovations, with France positioning itself at the forefront of this exclusive aviation segment.
Pioneers and Titans of the Private Jet Industry
The private jet industry is composed of several key players, each bringing its own unique strengths and specialties to the aviation table. These companies are at the forefront of luxury, innovation, and connectivity in the sky, pioneering new models and services to cater to the demanding needs of their elite clientele. Here, we explore some of the titans that shape the upper echelons of private air travel.
- Airbus - The European Aviation Powerhouse Airbus, the European multinational aerospace corporation, stands tall as one of the world's two largest aircraft manufacturers. Though mainly renowned for producing commercial airliners, Airbus has also made a distinctive mark in the private jet market with its Airbus Corporate Jets (ACJ) series, including models like the ACJ 318, ACJ 319, ACJ 320, and ACJ 321. These jets embody the fusion of dependable performance and European elegance.
- Beechcraft - Champion of Accessibility and Performance Hailing from the United States, Beechcraft Corporation has established itself in creating affordable and high-performance small turboprops. With a legacy in aviation, their King Air and Hawker series have become synonymous with efficiency and reliability. These aircraft are particularly popular among those who seek the practicality of air travel without compromising on quality.
- Boeing - The Architect of the Business Skies Boeing is an American behemoth and a leading name in commercial airliners. The company extended its expertise into the business jet sphere with its Boeing Business Jet services. Ranging from the narrow-body 737 to the capacious 747-8 or the long-range 777, Boeing has tailored a collection of aircraft that go beyond mere transportation, offering an airborne experience that mirrors a flying penthouse.
- Bombardier - A Purveyor of Versatility Canada's Bombardier has been a major player in the aeronautics industry, and their Learjet, Challenger, and Global product lines are perfect exemplars of aircraft suited for both short-haul and intercontinental flights. From the Challenger 605 to the Global 7500, Bombardier's jets are famous for blending unparalleled comfort with incomparable engineering.
- Cessna - The American Business Aviation Trailblazer An institution in American business aviation, Cessna's rich history is evident in its range of turboprops and its influence as a former leading manufacturer of private jets.
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- Number of pages : 30 pages
- Format : Digital and PDF versions
- Last update : 10/09/2021
Summary and extracts
1 Market overview
1.1 Definition and scope of study
Jets are generally smaller and more upscale than airliners. The private jet market is a segment of the more global aviation market, distinct from commercial flights. The sector includes business travel and, to a lesser extent, personal aviation.
There are different types of jets on the market, ranging from Very Light Jets (with up to 5 seats) to Large Jets (with up to 20 passengers). The market is mainly driven by private jet rentals, although some individuals also opt to purchase these machines.
The global market is dominated by the United States and Europe, which account for 90% of market activity and 77% of the world's private jet fleet. After experiencing a contraction between 2017 and 2018, the global market has since breathed new life into itself, with a compound annual growth rate (CAGR) estimated by Fortune Business Insights at 4.06% over the period 2022 to 2029. This growth is driven by the enthusiasm of multinationals and the super-rich. The global private jet fleet is expected to grow from around 4,600 in 2019 to nearly 8,000 over the next decade.
France is Europe's leading market in terms of private jet movements, with activity concentrated mainly in the Ile-de-France and Provence-Alpes-Côte-D'azur regions (especially Paris and Nice). After several years of sluggish growth, the French private jet market is seeking to reinvent itself. In contrast to its catastrophic effect on airline aviation, the coronavirus crisis has been the long-awaited catalyst for private jets, boosting activity. Business-dependent, the number of requests rose from 25% to 60% in 2021 compared to the same period the previous year. Capitalizing on this new momentum to reap the benefits in the longer term is therefore a key challenge for the market.
However, factors such as climate change and the French government's call for efforts to reduce energy consumption are currently calling private jet travel into question. For example, we are seeing the emergence of public protests condemning the excessive travel habits of the very rich, as evidenced by the creation of social network accounts publishing the jet travel habits of the very rich.
1.2 The global private jet market
The worldwide Covid-** epidemic has not only caused a partial collapse in air travel, but travel has become even more complicated, and many people are still reluctant to travel. More people than before are now opting for private jets, as they limit health contacts and are subject to fewer regulations. As ...
1.3 The French private jet market
According to theEuropean Business Aviation Association(***) compared with ****, reaching ***,*** movements over the year. The majority of these movements took place at Paris Le Bourget airport, with **,*** arrivals and departures, including *,*** to Nice, the busiest intra-national route in ****.in both French and European terms, Paris Le Bourget is the busiest airport, ahead ...
2 Demand analysis
2.1 Typology of demand
The results of a survey of business travelers conducted by Fly Aeolus provide a better understanding of the demand segments for private/business jets. Some of the results are discussed below.
Demand segmentation by trip type Europe, ****, in Source: ****
In total, according to the graph above, **% of all travelers surveyed fly ...
2.2 The main determinants of demand
The main criteria taken into account for a flight Europe, ****, in Source: ****
The criteria for choosing a flight for business purposes are often quite dictated by the flight schedule, but this is not the only criterion, since the graph above shows that the fact that the flight is direct, the departure ...
2.3 Potential areas for improvement to meet demand
Key areas for improvement in the travel experience Europe, ****, in Source: ****
Waiting thus seems, as announced in the previous sections, to be one of the main points for improvement linked to business flights. **% of business travelers would like to spend less time on the way to and in the airport. This ...
2.4 Trends in demand for private jets
The Covid-** pandemic has seen a phenomenal surge in private jet activity: with air travel still affected by the health crisis, the wealthiest and some business travellers are turning to these much more convenient means of air transport.
It turns out that a significant number of private jet flights are indeed ...
2.5 Environmental issues influence demand
The summer of **** was the second hottest on record after ****, with temperatures*.*°C higher than the average observed between **** and ****, according to Météo France in its summer report dated August **, ****. This once again raised the question of climate change and the measures to be taken to limit heatwave phenomena ...
3 Market structure
3.1 The structure of the private jet market
Private jet value chain based on the Dassault Aviation production modelFrance
Source: ****
The private jet industry includes a number of traditional players in the sector, who in this case are part of the aeronautics industry as a whole, and whose activities are not confined to the design and manufacture of private ...
3.2 Private jet production in France
In this section, we use NAF code **.**Z entitled "Construction aéronautique et spatiale", since private jet builders are above all aircraft manufacturers. According to the INSEE definition, this NAF code includes :
Construction of aircraft for freight and passenger transport, for the armed forces and for sporting use Construction of helicopters Construction ...
3.3 The players in private jet transport
The private jet market isn't just about building jets. Above all, it concerns the travel services offered by various players such as Vista Jet, the world leader in the business jet market. In this section, we'll be using NAF code ****Z, which stands for "Passenger air transport".even if only **% of ...
3.4 Distribution of private jets on the market
The main airports around which journeys are concentrated :
Paris-Le Bourget airport, mainly dedicated to business aviation:Paris-Le Bourget airport is unique in Europe. It is the only airport catering exclusively to private aircraft. From turboprops to regional aircraft for group flights, all types of private aircraft are available. The way Le ...
4 Offer analysis
4.1 Typology of private jet rentals
Jets can be differentiated in a number of ways, including size, maximum distance they can travel, maximum number of passengers, price, luxury...We've decided to use two typologies to provide more information. The one below gives an overview of the aircraft's flight zones. We have :
Turboprop aircraft, capable of carrying between ...
4.2 The offer to buy private jets
Different purchase costs:
Here are a few non-exhaustive examples of market prices for private jets:
Source: ****
However, there are also offers for pre-owned private jets:
Source: ****
A minimum of *** hours per year for a purchased aircraft pays for itself:
The price of the aircraft must always be compared with the frequency ...
4.3 Environmental concerns linked to the rise of private jets
Private jets generate * to ** times more pollution per passenger on board than airliners, and ** times more than a train, according to Transport & Environment. The NGO fears that the phenomenon will worsen in the future, as jet owners opt for larger and larger aircraft.
Between **** and ****, pollution from these aircraft rose by ...
4.4 The effects of war in Ukraine
The effects of the conflict on French aerospace construction
France is a world leader in the aeronautics market, thanks in particular to Airbus. Players in this market participate in various ways in the construction of jets destined for the market. However, the war in Ukraine has put the brakes on global ...
5 Regulations
5.1 Current regulations
There are two major regulations: the Federal Aviation Administration (***) isobtained or renewed. The flight crew must meet medical and technical competency requirements, and the aircraft must undergo an inspection.
The FAA is very simplified for private transport (***), while EASA is trying to bring private transport regulations closer to those of commercial ...
6 Positioning the players
6.1 Player segmentation
- Dassault Aviation
- Airbus Groupe
- Embraer
- Bombardier
- Boeing
- Piaggio
- AEROAFFAIRES
- Jet Agency
- Vista Jet
- NetJets
- AstonJet
- Flying 7 Air
List of charts
- Private jet market size forecasts
- Breakdown of the private aviation market for VistaJet, the sector leader
- Demand segmentation by trip type
- Average number of air journeys made by business travellers
- The main criteria taken into account for a flight
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