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 ...
2.1 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 ...
3.1 The structure of the private jet market
Private jet value chain based on the Dassault Aviation production modelFrance
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 ...
4.1 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:
However, there are also offers for pre-owned private jets:
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 ...
5.1 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 ...
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What is in this market study?
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