Market Trends of MEA Jet Charter Services Industry
The Segment for Large Jets is Projected to Dominate the Market During the Forecast Period
The scope of large-size jets includes large jets, large long-range jets, and large ultra-long-range jets. In the private jet charter services market in the Middle East and Africa, the large business jet category accounted for 100% of the deliveries during 2019-2023 for charter applications. Large jets are more prevalent in Africa. During the last several years, air charter service providers have witnessed high demand for large jets in the entire region.
The expansion of e-commerce and the need for quick and dependable delivery of goods to consumers increase the demand for air charter freight services. The increasing adoption of new and advanced aircraft technologies and rising investments in the aviation sector are expected to boost the growth of the African air charter services market. The increasing popularity of private jet charter services for leisure travel also contributes to this market鈥檚 growth.
The major original equipment manufacturers (OEMs) in business jets, such as Bombardier Inc., are expanding the growth opportunities in the region with their large jet offerings, such as Global 7500. Gulfstream's G650ER was the most delivered model in the market, with around ten deliveries from 2019 to 2023.
South Africa is expected to Witness Significant Growth During the Forecast Period
The growth of the business jet market in South Africa is primarily attributed to the increasing demand for business jet operator companies. Additionally, business jets are gaining popularity among private corporations and institutions across South Africa, which is primarily attributed to the accessibility of business jets to remote locations, flexibility with scheduling, privacy, and having a positive impact on customers. As of December 2023, South Africa鈥檚 active business jets accounted for 21% of the Middle East and Africa鈥檚 fleet for charter applications. OEMs that delivered most of the business jets included Bombardier, with the largest market share, accounting for 40%. Additionally, in South Africa, all business jets were wholly owned.
Regarding deliveries, the country鈥檚 business jets accounted for 21% of the total business jets in Africa from 2019 to 2023. Of that, all the jets delivered for charter operations belonged to the large business jet segment. The large jets segment is witnessing more demand than the other two segments because it is best suited to long-range regional operations. Additionally, the demand for tourism is driving the market in this segment.
Based on models, the most delivered jets were Bombardier鈥檚 Challenger 3500, Global 6000, Dassault Falcon's 8X, and Gulfstream's G650.
