The private jet market - France

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.