Air Partner - 18 Feb 2019
From the effects of Brexit to the expansion of the Global Jet category and the advances in aviation technology, we speculate where the private jet market is headed to next in our private aviation predictions for 2019.
The new Pilatus PC24 is expected to set a new precedent with its versatility and technical performance. Self-titled a 'Super Versatile Jet' by its Swiss manufacturer, it boasts the exceptional short-field performance of a turboprop, the cabin size of a best in class Light Jet, yet the range of many Midsize jets. We expect a number of these aircraft to be available on the charter market through 2019.
Over the past few months, the number of Global Jets being chartered has steadily grown and we are likely to see this category of aircraft expand in 2019. Manufacturers such as Bombardier, Dassault and Gulfstream are all introducing new models within the Ultra Long Range category to cater for the growing market for longer haul, non-stop trips.
Many of the newer aircraft becoming available on the charter market offer better connectivity and improved cabins. This usually includes more generous baggage space, something that has become an increasing priority for passengers and is now being factored in as a key design feature. In-cabin technology improvements are constantly being made by manufacturers in line with the changing requirements of passengers who want increased connectivity and more control.
When it comes to environmental innovation within the aviation space, it's just a matter of time as to when electric aircraft will take to the skies. It has already been proven that they can fly, so it is just a case of a certification process and progression that is likely to happen first in more agile markets.
2019 could be the make or break year for shared charter. No one has yet proven the viability of this model and we have already seen a number of these providers close down after just a short period time. In a similar vein, there has been an increasing number of smaller brokers and apps coming to market within the private aviation space. Whilst apps may offer a perceived convenience for the booking process, the support of an expert team with proven safety values and the ability to speak to a specialist 24/7, wherever you are in the globe, should be an expectation for such a high value service. Overall, we expect larger companies within the private aviation space to remain and dominate the market over the coming years.
What does Brexit mean for the private jet charter industry? As a global aviation expert, Air Partner has seen more European business travellers flying into the UK by private jet to take advantage of the fall in the value of the pound as Brexit looms. The number of private jets chartered by European business travellers increased by nearly ten per cent between July and August 2018, compared to the same time last year. Our figures indicate there is continuing business confidence in the UK from European businesses. Whilst the European private aviation market is set to see significant growth rates over the next few years, North America is expected to take the lead within the business jet market, with Europe and Asia-Pacific closely following in second and third place.