Chartered Air Passenger Services NAICS 481211

Jul 29, 2025 - Global Private Jet Travel Keeps Flying High

• Global private jet travel has increased 8% year over year as of April 2025, with the US leading the charge and accounting for 69% of all recorded outbound trips, according to aviation data firm WingX. Consumers able to fly in private jets have increasingly abandoned standard commercial air travel since the pandemic made private planes a safer and more attractive flying option given social distancing rules. Driven by these changing demands among travelers - along with the industry’s inherent advantages of travel flexibility, speed, and safety - private jet companies have seen demand and profits steadily increase. (The chartered air industry grew 9.3% last year to $97.8 billion.) In addition to affluent clientele, business travel is also a key driver of industry growth with more than 900,000 business jet departures recorded globally in Q1 2025 alone, per WingX.
• The global chartered air passenger service market increased from $87.9 billion in 2023 to a projected $97.8 billion in 2024, according to Research and Markets, a compound annual growth rate of 9.3%. The industry is forecast to grow to $106.9 billion in 2025 and to $145.8 billion by 2029. Key factors propelling the market include flexible travel options, luxury tourism, technological advancements, specialized services, and security and privacy. Recent industry innovations include ultra-long-range business jets, supersonic jets, and flexible booking models which integrate more technology. The industry also saw a boost last year from increased corporate travel, emergency and medical flights, and military and government contracts.

• Relatively consistent revenue growth ever since the pandemic continues for US air transportation, with total revenue rising 3.7% year over year in Q3 2024 , but down 1.3% from the previous quarter, according to the US Census Bureau. Covid was a nightmare for the big airlines but turned to a dream for private jet charters when travelers who could afford it turned to the industry as an alternative. Some of the biggest jet service operators have continued to thrive and even grow since 2020 including market leaders NetJets (12% of market share), Airshare, and Flexjet. Of the 15 largest private jet companies in the US, only four of them saw a decrease in passenger volume over the last four years, per an analysis by Private Jet Card Comparisons.
• The Federal Aviation Administration (FAA) is finalizing new rules requiring charter, commuter, air tour operators, and aircraft manufacturers to implement Safety Management Systems (SMS), a safety tool aimed at reducing accidents. SMS are a set of policies and procedures to proactively identify and address potential operational hazards. US airlines have been required to have SMS since 2018 and some aerospace companies already voluntarily have SMS programs. The National Transportation Safety Board has urged the FAA to require and verify the SMS systems in all revenue passenger-carrying aviation operations.