Charter & Other Nonscheduled Air Transportation Services
Companies in this industry provide on-demand, nonscheduled domestic and international transportation of passengers and cargo. Major companies include US-based Air Transport Services, Atlas Air Worldwide, and NetJets, along with Switzerland's Jet Aviation and the UK's TUI Airways.
The global air charter services market is forecast to reach about $34 billion by 2027, according to the Business Research Insights. Emerging markets such as growth as well. Demand for private planes is increasing in countries such as China and India as their ranks of high-net-worth individuals and large corporations grow.
The US air charter services industry includes about 2,200 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $22 billion.
Competitive Landscape
Demand is driven by corporate profits and the needs of the US military. The profitability of individual companies depends on effective marketing and customer service. Large companies have advantages in fleet size and name recognition. Smaller companies can compete effectively by serving small local markets and offering lower prices. The industry is concentrated: the 50 largest companies account for about 70% of industry revenue.
Products, Operations & Technology
Major services include domestic passenger transportation, which accounts for more than 50% of industry revenue. Transportation of non-perishable goods
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Glossary of Acronyms