Dublin, April 13, 2021 (GLOBE NEWSWIRE) -- The "Chartered Air Transport Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global chartered air transport market is expected to grow from $54.98 billion in 2020 to $59.07 billion in 2021 at a compound annual growth rate (CAGR) of 7.4%.
Major companies in the chartered air transport market include Xojet; Netjets; Vistajet; Onesky Jets and Bluestar Jets.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $75.98 billion in 2025 at a CAGR of 6%.
The chartered air transport services market consists of sales of chartered air transportation services and related goods by entities (organizations, sole traders and partnerships) that use aircraft, such as airplanes and helicopters, to provide chartered (non-scheduled) air transportation services for passengers and/or cargo at a toll per mile or per hour for the charter of the aircraft. The chartered air transportation market is segmented into passenger chartered air transport; freight chartered air transport and other chartered air transport.
North America was the largest region in the global chartered air transport market, accounting for 32% of the market in 2020. Asia Pacific was the second largest region accounting for 30% of the global chartered air transport market. Africa was the smallest region in the global chartered air transport market.
Airlines are actively making use of wearable technology to enhance operational efficiency, maintenance, and to provide add-on entertainment to the passengers. Wearable technology includes use of smart phones, personal electronic devices, smart glasses, smart watches, near-field communication (NFC) and Bluetooth technology to improve and simplify the passenger experience. These technologies help passengers to improve safety and efficiency, receive updates and information related to their flight.
They are capable of helping pilot, crew members and maintenance team to monitor gas concentrations, levels of noise and temperature to avoid mishaps. Smart watches allow passengers to upload their ticket related information on these devices. About 77% of the 6,000-plus passengers surveyed in a study said they would be comfortable with the use of wearable technology to help them during their journey. Some companies making use of such wearable technologies include Virgin Atlantic, Japan Airlines, EasyJet and British Airways.
It is expected that the market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Technology is expected to be a continued driver of the chartered air transportation services market growth during the forecast period. Sectors such as the transportation services will benefit from the greater efficiencies offered by technological advances. Technologies such as aircraft telematics relay engine information via satellite to manufacturers and maintenance teams on the ground to minimize time on the tarmac reducing flight turnaround times and increasing the efficiencies of airlines.
Several technologies such as big data, machine learning, and predictive analytics are also being used to increase efficiencies, and align business strategies. Big data uses a combination of real time information, historical trends, and clever algorithms, to translate car speeds, weather conditions, and sources of acceleration and deceleration for road operators. Adoption of technology will drive the chartered air transportation services market going forward.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Chartered Air Transport Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Chartered Air Transport Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Chartered Air Transport Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Chartered Air Transport Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Chartered Air Transport Market Trends and Strategies
8. Impact of COVID-19 on Chartered Air Transport
9. Chartered Air Transport Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Chartered Air Transport Market Regional Analysis
10.1. Global Chartered Air Transport Market, 2020, by Region, Value ($ Billion)
10.2. Global Chartered Air Transport Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Chartered Air Transport Market, Growth and Market Share Comparison, by Region
11. Chartered Air Transport Market Segmentation
11.1. Global Chartered Air Transport Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Passenger Chartered Air Transport
Freight Chartered Air Transport
Other Chartered Air Transport
11.2. Global Chartered Air Transport Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.3. Global Chartered Air Transport Market, Segmentation by End Use, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12. Chartered Air Transport Market Metrics
12.1. Chartered Air Transport Market Size, Percentage of GDP, 2015-2025, Global
12.2. Per Capita Average Chartered Air Transport Market Expenditure, 2015-2025, Global
For more information about this report visit https://www.researchandmarkets.com/r/ro7hb8
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