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MEA Jet Charter Services Market Size (2024 - 2029)

The Middle-East and Africa private jet charter services market is experiencing significant growth, driven by an increase in per capita income among the middle-income group, which is boosting demand for charter services. This demand is prompting service providers to expand their fleets and cover new routes, thereby enlarging the market's scope. The introduction of emerging aviation emission norms and the need for personalized travel experiences are further fueling the demand for newer-generation aircraft. Additionally, the presence of a growing high-net-worth individual clientele and the benefits of fractional ownership or private jet card programs are key factors contributing to the market's expansion in the region.

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Market Size of MEA Jet Charter Services Industry

MEA Jet Charter Services Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 566.46 Million
Market Size (2029) USD 943.39 Million
CAGR (2024 - 2029) 10.74 %
Market Concentration Low

Major Players

MEA Jet Charter Services Market Major Players

*Disclaimer: Major Players sorted in no particular order

MEA Jet Charter Services Market Analysis

The MEA Jet Charter Services Market size is estimated at USD 566.46 million in 2024, and is expected to reach USD 943.39 million by 2029, growing at a CAGR of 10.74% during the forecast period (2024-2029).

The increase in the per capita income of the middle-income group in the region is enabling them to opt for charter services to satisfy their exquisite tourism needs. This encourages charter service providers to expand their fleets to cover new routes in response to the rising demand and serve a larger market.

Emerging aviation emission norms and the clientele's diversified requirement to personalize their travel experience have bolstered the demand for newer-generation aircraft. Also, the presence of a growing high-net-worth individual (HNWI) clientele in the region has had a positive effect on the demand-side dynamics of the market. The associated ownership benefits in terms of evolving fractional ownership or private jet card programs have been a decisive factor in promoting the market's growth in the region.

MEA Jet Charter Services Industry Segmentation

A charter business model is one in which the aircraft is rented to the users for operation per their needs. A charter service provider or operator is a professional organization accredited and licensed to provide the pilots, maintain the aircraft, and operate the aircraft. Charter services can be opted for by individuals, corporations, businesses, VIPs, sportspeople, and government officials after entering into a mutual understanding with the charter operator regarding the terms and conditions of the rental program. A charter aircraft can also be modified for other roles, such as emergency medical services, cargo delivery, or equipment resupply.

The African private jet charter services market is segmented based on aircraft size and geography. By aircraft type, the market is segmented into light jets, mid-size jets, and large jets. The report also covers the market size and forecasts for the African private jet charter services market in three countries across the region. For each segment, the market sizing and forecasts have been provided based on revenue (USD).

Aircraft Size
Light
Mid-size
Large
Geography
South Africa
Ghana
Nigeria
Rest of Africa
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MEA Jet Charter Services Market Size Summary

The Middle-East and Africa private jet charter services market is experiencing significant growth, driven by increasing per capita income among the middle-income group and a rising number of high-net-worth individuals. This economic upliftment is encouraging more people to opt for private jet services to meet their luxury travel needs, prompting service providers to expand their fleets and cover new routes. The demand for newer-generation aircraft is bolstered by emerging aviation emission norms and the desire for personalized travel experiences. The market is also seeing a shift towards fractional ownership and private jet card programs, which are enhancing the appeal of private jet services. Large business jets dominate the market, particularly in Africa, due to their suitability for long-range regional operations and the growing demand for leisure travel.

The African private jet charter services market is characterized by a fragmented landscape with over 150 service providers, ranging from large operators with extensive fleets to smaller companies securing new membership contracts and exploring new routes. Prominent players like Empire Aviation Group, Royal Jet, and ExecuJet Aviation Group AG are expanding their offerings with newer-generation aircraft to attract more customers. The market's growth is further supported by the expansion of e-commerce, which increases the demand for air charter freight services, and the adoption of advanced aircraft technologies. South Africa stands out with a significant number of business jets, driven by the demand for flexibility, privacy, and accessibility to remote locations. Despite a slight dip in demand for light jets due to safety concerns over turboprop aircraft, the market continues to thrive with major OEMs like Bombardier and Gulfstream leading the way in deliveries.

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MEA Jet Charter Services Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Aircraft Size

      1. 2.1.1 Light

      2. 2.1.2 Mid-size

      3. 2.1.3 Large

    2. 2.2 Geography

      1. 2.2.1 South Africa

      2. 2.2.2 Ghana

      3. 2.2.3 Nigeria

      4. 2.2.4 Rest of Africa

MEA Jet Charter Services Market Size FAQs

The MEA Jet Charter Services Market size is expected to reach USD 566.46 million in 2024 and grow at a CAGR of 10.74% to reach USD 943.39 million by 2029.

In 2024, the MEA Jet Charter Services Market size is expected to reach USD 566.46 million.

Middle East & African Jet Charter Services Market Report Snapshots

Middle-East And Africa Private Jet Charter Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)