There are an estimated 22,000 active private jets worldwide – And that number is increasing faster than ever before. One of the major headlines in 2020 and 2021 is a shortage in used jet inventory. In response to this, airframers have ramped up their production to answer the call. Thus, you can expect private jets to enter chartered service at an astonishing rate in the following years.
In 2020, the value of the global private jet market reached a whopping $24.21 billion. –
Despite one of the harshest economic years we have experienced due to the pandemic, the global market for private jets was flourishing. Even though it was down from its valuation back in 2019, the figures for the private jet market are already rebounding. In fact, in 2021, the market has recovered back up to 23.6 billion, with the number still rising.
Private Jets: Interesting Facts about the Private Aviation Industry
Booking a private jet is the ultimate luxury travel, allowing you to fly in comfort. Millions of passengers fly on private jets every year. They offer the utmost level of convenience and comfort. Travelers widely use them for pleasure business, including celebrities. One of them was known as the ‘Tinder Swindler’ Simon Leviev, the man who has a lavish lifestyle that includes supercars and private jets, thanks to people he’s conned. Check out these interesting facts you didn’t know.
The Growth of the Global Private Jet
The global private jet market will reach around $36.94 billion by 2028, netting a compound annual growth rate of 5.22%. On the topic of market growth, analysts predict that private aviation will grow at a healthy rate of 5>22% over the next six years, reaching $36.94 billion. This growth will come from increased deliveries and additional interest from regional charters.
Among the different states in the United States, California, Florida, and Texas, are the busiest places for chartered flights. -Unsurprisingly, some of the country’s largest urban epicenters are also the busiest locations for domestic chartered flights. New York, New Jersey, Arizona, and Illinois also belong in the top 10 states for charters due to the same reasons.
In 2020 alone, there were a recorded 2.15 million private chartered flights. Due to the pandemic, 2020 marked a significant increase in private chartered flights as people chose to fly privately. After experiencing the comfort of chartered flights, many first-time fliers have become regulars, with some becoming private jet owners themselves.
The First Private Jet Flight Was in 1963
Private jets have been flying for over 50 years. One of the first companies to build private jets was Bill Lear’s renowned Lear Jet, out of Wichita, Kansas, on October 7, 1963. The business launched the first production model the following year.
During the same year, Dassault Falcon’s first executive jet, the Mystere 20, was made out from Bordeaux-Merignac Airport.
Not All Jets Flying in the Sky Has Passengers
Not every private jet in the skies carries passengers. There are instances when only the copilot and the captain are aboard. Private planes return empty, which is an “empty leg.” However, 40% of private jet flights are empty, wasting money and fuel on payroll hours.
American Owned Half of the Private Jets
Given that most millionaires are Americans, it should be unsurprising that Americans possess the most private jets in the world. Americans account for 49.7% of the private jet market. Europe and Asia account for 32% of the total, with South America, the Middle East, and Africa combining for 18%. The majority of private jet terminals are also in the United States. Teterboro Airport in New Jersey is the most popular since it is close to New York City.
Private Jet Owners Said They Will Buy Another One
For the average person, a private jet seems like a lifetime investment. While Prince al-Saud is unlikely to buy another $500 million private jet mansion, 30% of private jet owners aim to buy another one within five years.
The Most Expensive Private Jet Costs a Total of $500 million.
A half-billion-dollar investment is a large sum of money. However, this did not prevent a Saudi royal from luxuriously spending money on a beautiful private jet. The Airbus A380 is not just the most expensive private jet available but also the largest. At the same time, Prince Alwaleed bin Talal al-huge Saud’s private jet is nothing more than a soaring mansion.
You generally see a small to medium-sized aircraft with a few rows of seats and a cockpit when you think about private jets. For instance, you’re probably not thinking of three distinct stories, a conspicuous parking area, an elevator, movable prayer rooms, performance halls, stables, and grand pianos. The Airbus A380 has it all, seating for roughly a thousand passengers.
Celebrities Love Private Jets
It should come unsurprising that many celebrities possess private jets. Many of them also fly their planes instead of taking passengers. Bill Gates also has a $40 million private jet. The Bombardier BD-700 Global Express has a capacity of 19 passengers.
Oprah Winfrey, one of the world’s wealthiest women, spent $42 million for a Bombardier Global Express XRS after having a poor airport experience in 1991. A random woman approached her while waiting for hours at the airport and demanded a hug.
Aviation Industry is the Fastest-Growing Segment
Private jet charter is a multibillion-dollar industry in the United States. It is expected to expand at a rate of 10% each year. Thanks to the service industry, you may select your aircraft and fly whenever you want. Unlike commercial airlines’ scheduled flight options, private flights give you easy access to any destinations you want within short notice. Flying aboard a private jet charter allows you to satisfy all of your needs on schedule. These benefits are not available in any other kind of private transportation.
Takeaway
JetOnset can offer you your private jet charter requirements, including hiring luxury and executive planes for business travel or leisure holidays. Our flight experts are always available to answer your inquiries with understanding and expertise, considering your worries and preferences.
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