Business Jet Usage Is Growing, Despite Opposition. Here’s Why


Business jet usage is growing, despite opposition. Here’s why

Omar Hosari | - 05/16/2024
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Aviation, Executive Insight

Business jet usage is growing, despite opposition. Here’s why – Despite criticism from some quarters, the global business jet market appears to be on a steady upward trajectory. According to Statista, the market value skyrocketed from just over 24 billion USD in 2020 to just over 30 billion USD this year, an enormous jump by any industry standards. And with projections indicating that this growth is set to continue, (the market is expected to reach just under 37 billion USD by 2028) it begs the question; what exactly is it that makes flying private so popular?

Undoubtedly, the numerous benefits of flying privately are inarguable. When it comes to flexibility and efficiency, nothing can rival this type of travel for high-net-worth individuals, corporate executives, and government officials. It’s a fast-paced global economy where time is of the essence, and business jet travel offers unrivalled speed and convenience.

Many businesses require more flexibility than the schedules of commercial airlines can provide. So, opting for a business jet delivers the luxury of being able to pick and choose departure times, as well as saving hours moving through airport terminals, queueing at security checkpoints, and going through immigration. This boils down to saving time and increasing productivity. A no-brainer for high-level organizations.

Another massive benefit is that flying private enables executives to visit multiple destinations in a single day if necessary… In this way, business aviation is not only supporting these individuals and their businesses, but also local and regional economies. It simply would not be viable to travel to certain destinations without flying privately, and this means that investment in rural areas may be compromised.

It’s important to note that major advancements in technology and design have made business aircraft far lighter and more fuel-efficient (and subsequently, cost-effective) than ever, making them a smart option for many businesses. I have no doubt, as Statista predicts, the demand for fast, convenient, and customizable travel will continue to rise, and rise sharply.

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