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Summary of our market study
The global market for private jets, mainly driven by private jet rentals, is valued at $26 billion in 2021 and is expected to reach $38.13 billion in 2029.
Dynamics of demand for private jets in the French market
The French private jet market has experienced significant growth in recent years, resulting from a combination of factors such as the search for exclusivity, convenience and the impact of the Covid-19 pandemic. France is Europe's leading market for private jet movements, with activity concentrated mainly in the Île-de-France and Provence-Alpes-Côte d'Azur regions.
The attractiveness of airports such as Paris Le Bourget, with over 48,000 movements per year, testifies to the vitality of the market.
Demand is mainly driven by business travel, where multinationals and high-net-worth individuals seek the privacy and efficiency that private jets can offer.
The market is seen as a reliable alternative to commercial flights, not least because of the advantages it offers: fewer passengers, more flexible departure times and a limited number of points of contact.
The private jet market is growing at a compound annual rate of between 3% and 5%.
With emissions five to fourteen times higher than those of commercial flights, and up to fifty times higher than those of trains, environmentally-friendly solutions are increasingly in demand. Industry players have begun to explore alternatives such as biofuels, electric or hydrogen engines, and greener production methods.
Private jet industry players
- Airbus - European aviation giant Airbus, the European aerospace multinational, is one of the world's two largest aircraft manufacturers.
- Beechcraft - Champion of accessibility and performance
- Boeing - The company has extended its expertise to the sphere of business jets.
- Bombardier - its Learjet, Challenger and Global product lines are perfect examples of aircraft adapted to short-haul and intercontinental flights.
- Cessna - The pioneer of American business aviation
- Dassaut Avation, a world leader in the sector
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Summary and extracts
1 Market overview
1.1 Definition and scope of study
Jets are generally smaller and more upscale than airliners. The private jet market is a segment of the more global aviation market, distinct from commercial flights. The sector includes business travel and, to a lesser extent, personal aviation.
There are different types of jets on the market, ranging from Very Light Jets (with up to 5 seats) to Large Jets (with up to 20 passengers). The market is mainly driven by private jet rentals, although some individuals also opt to purchase these machines.
The global market is dominated by the United States and Europe, which account for 90% of market activity and 77% of the world's private jet fleet. After experiencing a contraction between 2017 and 2018, the global market has since breathed new life into itself, with a compound annual growth rate (CAGR) estimated by Fortune Business Insights at 4.06% over the period 2022 to 2029. This growth is driven by the enthusiasm of multinationals and the super-rich. The global private jet fleet is expected to grow from around 4,600 in 2019 to nearly 8,000 over the next decade.
France is Europe's leading market in terms of private jet movements, with activity concentrated mainly in the Ile-de-France and Provence-Alpes-Côte-D'azur regions (especially Paris and Nice). After several years of sluggish growth, the French private jet market is seeking to reinvent itself. In contrast to its catastrophic effect on airline aviation, the coronavirus crisis has been the long-awaited catalyst for private jets, boosting activity. Business-dependent, the number of requests rose from 25% to 60% in 2021 compared to the same period the previous year. Capitalizing on this new momentum to reap the benefits in the longer term is therefore a key challenge for the market.
However, factors such as climate change and the French government's call for efforts to reduce energy consumption are currently calling private jet travel into question. For example, we are seeing the emergence of public protests condemning the excessive travel habits of the very rich, as evidenced by the creation of social network accounts publishing the jet travel habits of the very rich.
1.2 The global private jet market
The worldwide Covid-** epidemic has not only caused a partial collapse in air travel, but travel has become even more complicated, and many people are still reluctant to travel. More people than before are now opting for private jets, as they limit health contacts and are subject to fewer regulations. As ...
1.3 The French private jet market
According to theEuropean Business Aviation Association(***) compared with ****, reaching ***,*** movements over the year. The majority of these movements took place at Paris Le Bourget airport, with **,*** arrivals and departures, including *,*** to Nice, the busiest intra-national route in ****.in both French and European terms, Paris Le Bourget is the busiest airport, ahead ...
2 Demand analysis
2.1 Typology of demand
The results of a survey of business travelers conducted by Fly Aeolus provide a better understanding of the demand segments for private/business jets. Some of the results are discussed below.
Demand segmentation by trip type Europe, ****, in Source: ****
In total, according to the graph above, **% of all travelers surveyed fly ...
2.2 The main determinants of demand
The main criteria taken into account for a flight Europe, ****, in Source: ****
The criteria for choosing a flight for business purposes are often quite dictated by the flight schedule, but this is not the only criterion, since the graph above shows that the fact that the flight is direct, the departure ...
2.3 Potential areas for improvement to meet demand
Key areas for improvement in the travel experience Europe, ****, in Source: ****
Waiting thus seems, as announced in the previous sections, to be one of the main points for improvement linked to business flights. **% of business travelers would like to spend less time on the way to and in the airport. This ...
2.4 Trends in demand for private jets
The Covid-** pandemic has seen a phenomenal surge in private jet activity: with air travel still affected by the health crisis, the wealthiest and some business travellers are turning to these much more convenient means of air transport.
It turns out that a significant number of private jet flights are indeed ...
2.5 Environmental issues influence demand
The summer of **** was the second hottest on record after ****, with temperatures*.*°C higher than the average observed between **** and ****, according to Météo France in its summer report dated August **, ****. This once again raised the question of climate change and the measures to be taken to limit heatwave phenomena ...
3 Market structure
3.1 The structure of the private jet market
Private jet value chain based on the Dassault Aviation production modelFrance
Source: ****
The private jet industry includes a number of traditional players in the sector, who in this case are part of the aeronautics industry as a whole, and whose activities are not confined to the design and manufacture of private ...
3.2 Private jet production in France
In this section, we use NAF code **.**Z entitled "Construction aéronautique et spatiale", since private jet builders are above all aircraft manufacturers. According to the INSEE definition, this NAF code includes :
Construction of aircraft for freight and passenger transport, for the armed forces and for sporting use Construction of helicopters Construction ...
3.3 The players in private jet transport
The private jet market isn't just about building jets. Above all, it concerns the travel services offered by various players such as Vista Jet, the world leader in the business jet market. In this section, we'll be using NAF code ****Z, which stands for "Passenger air transport".even if only **% of ...
3.4 Distribution of private jets on the market
The main airports around which journeys are concentrated :
Paris-Le Bourget airport, mainly dedicated to business aviation:Paris-Le Bourget airport is unique in Europe. It is the only airport catering exclusively to private aircraft. From turboprops to regional aircraft for group flights, all types of private aircraft are available. The way Le ...
4 Offer analysis
4.1 Typology of private jet rentals
Jets can be differentiated in a number of ways, including size, maximum distance they can travel, maximum number of passengers, price, luxury...We've decided to use two typologies to provide more information. The one below gives an overview of the aircraft's flight zones. We have :
Turboprop aircraft, capable of carrying between ...
4.2 The offer to buy private jets
Different purchase costs:
Here are a few non-exhaustive examples of market prices for private jets:
Source: ****
However, there are also offers for pre-owned private jets:
Source: ****
A minimum of *** hours per year for a purchased aircraft pays for itself:
The price of the aircraft must always be compared with the frequency ...
4.3 Environmental concerns linked to the rise of private jets
Private jets generate * to ** times more pollution per passenger on board than airliners, and ** times more than a train, according to Transport & Environment. The NGO fears that the phenomenon will worsen in the future, as jet owners opt for larger and larger aircraft.
Between **** and ****, pollution from these aircraft rose by ...
4.4 The effects of war in Ukraine
The effects of the conflict on French aerospace construction
France is a world leader in the aeronautics market, thanks in particular to Airbus. Players in this market participate in various ways in the construction of jets destined for the market. However, the war in Ukraine has put the brakes on global ...
5 Regulations
5.1 Current regulations
There are two major regulations: the Federal Aviation Administration (***) isobtained or renewed. The flight crew must meet medical and technical competency requirements, and the aircraft must undergo an inspection.
The FAA is very simplified for private transport (***), while EASA is trying to bring private transport regulations closer to those of commercial ...
6 Positioning the players
6.1 Player segmentation
- Dassault Aviation
- Airbus Groupe
- Embraer
- Bombardier
- Boeing
- Piaggio
- AEROAFFAIRES
- Jet Agency
- Vista Jet
- NetJets
- AstonJet
- Flying 7 Air
List of charts presented in this market study
- Private jet market size forecasts
- Breakdown of the private aviation market for VistaJet, the sector leader
- Demand segmentation by trip type
- Average number of air journeys made by business travellers
- The main criteria taken into account for a flight
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Latest news
Airbus wins major Asian contracts - 21/03/2024
- - Airbus has announced two major contracts in Asia, totaling 65 aircraft with an estimated value of over ten billion dollars.
- - Japan Airlines has ordered 21 long-haul Airbus A350-900s and 11 medium-haul A321s.
- - Korean Air has ordered 35 long-haul A350s, including 27 of the A350-1000 model.
- - The Boeing 777X is two years behind schedule in its certification process.
- - The Russian overflight ban puts Boeing's 787 Dreamliners at the limit of their range for Japanese and Korean airlines.
Airbus breaks all order records - 14/12/2023
- Airbus has surpassed its 2022 score, with 1,512 orders booked up to the end of November 2023.
- The number of orders in 2023 is 40% higher than in 2022.
- Airbus has a record backlog of over 8,000 aircraft. This represents just over eleven years of production at the current rate.
- Boeing also had a very good year in 2023, with 1,085 new orders
- Boeing's order book stands at 5,914 aircraft Boeing is behind Airbus in order intake and deliveries for the sixth year running.
Airbus, Tarmac Aerosave ;Services, the future golden goose of aeronautics - 30/11/2023
- By 2023, 4.3 billion passengers will have been carried (4.5 billion in 2019)
- Between 2023 and 2042, the aeronautical services market is expected to grow by 3.6% a year to reach $255 billion.
- Of this total, fleet maintenance, which is set to double to 46,560 aircraft (from 22,880 in 2020), will generate $210 billion in revenues by 2042.
- Improvements to existing aircraft - optimized fuel consumption, use of sustainable aviation fuel, etc. - will account for a further - will account for 28 billion.
- By 2042, airlines will need to recruit 2.2 million people, including 590,000 pilots, 920,000 flight attendants and 680,000 technicians.
- Airbus sales will be worth 9.8 billion euros in 2022, compared with 8.6 billion in 2021.
- Airbus Services business now exceeds that of the helicopter division (7 billion in 2022).
- Boeing achieved sales of 17.6 billion in services in 2022.
- Airbus steps up recycling and conversion of airliners: 17,000 older aircraft will be replaced over the next twenty years, generating a major market for the conversion of passenger aircraft into freighters, the resale of spare parts and the sale of spare parts for the Airbus Group.tarmac Aerosave is a world leader in the storage, maintenance, conversion and recycling of aircraft and engines.Its Skywise platform collects and analyzes all aircraft flight data, offering a predictive maintenance service More than 140 airlines are members of Skywiseriennes are Skywise members, representing around 50% of Airbus's worldwide fleet "Air France-KLM, which plans to set up an equally-owned service company with Airbus in early 2024.
Piaggio: 2 billion in revenue and growth in profits and sales - 02/03/2023
- Net income 2022: 41% increase, 84.9 million euros versus 60.1 million euros in 2021
- Revenues 2022: 25% increase, 2.09 billion euros versus 1.67 billion euros in 2021
- Vehicles sold in 2022: 625,000, up 17% from 536,000 in 2021
- Scooter market share in Europe: 22.9% in 2022 vs. 22.7% in 2021
- Scooter market share in North America: 35.4% in 2022 versus 35% in 2021.
Piaggio: 2 billion euros in revenues and counting. - 02/03/2023
- Net income in 2022: 84.9 million euros (41% increase over 2021)
- Net income in 2021: 60.1 million euros
- Revenues in 2022: 2.09 billion euros (25% increase over 2021)
- Revenues in 2021: 1.67 billion euros
- Vehicles sold in 2022: 625,000 (17% increase on 2021)
- Vehicles sold in 2021: 536,000
- Sales growth by region in 2022 : - Asia-Pacific: +57% - Americas: +43% - EMEA: +10% - India: -5.3
- Scooter market share in 2022 : - Europe: 22.9% - North America: 35.4
- Increase in scooter sales in 2022: +14% (thanks to Vespa, Piaggio Liberty, Piaggio 1, and Aprilia brands)
- Motorcycle sales volumes in 2022: up 20%.
Airbus: easyJet strengthens its fleet with 56 new A320neo aircraft. - 21/06/2022
- EasyJet has placed a $6.5 billion order with Airbus for 56 A320neo and A321neo aircraft.
- The agreement also includes the conversion of 18 A320neo aircraft into A321neo.
- Aircraft to be delivered between 2024 and 2029
- EasyJet points out that these aircraft consume 15 to 25% less fuel
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