Charter Flights in the US
The Charter Flights industry is flying high over the five years to 2018, following growth in demand from downstream markets. Since 2013, demand for nonscheduled air transport services grew as the broader economy continued to grow, corporate profit reached record highs and per capita household income increased. Demand for private charters has grown over the past few decades due to rising disposable incomes and demand for more-personalized services. Demand has also been fueled by jet cards, which are offered by a range of companies. The industry's growth is expected to continue over the next five years to 2023, driven by higher per capita income and corporate profit. As the economic environment prospers and general business outlook becomes more confident, spending on luxury items, such as chartered flights, is anticipated to grow.
Companies in this industry provide air transport services on an irregular or nonscheduled basis for passengers and cargo, also referred to as a charter arrangement. Industry operators enable people to fly where they want (in terms of destination and airport) and when they want, as opposed to commercial airlines that operate on a fixed schedule of destinations and times. This industry also includes scenic tours and sightseeing services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.