Air Charter Services Market Size to Grow by $8.82 Billion thru 2027

The air charter services market is set to grow by USD 8,827.65 million from 2022 to 2027, progressing at a CAGR of 5.37% during the forecast period. The escalating demand for cargo charter services is fueling market expansion, with major global operators reporting robust growth.

Increased air cargo volumes offer promising prospects for cargo charter providers, leading to the renewal of long-term contracts. The surge is driven by the need to transport oversized and unconventional cargo, surpassing the capabilities of standard logistic containers and aircraft.

Factors such as last-minute capacity, unforeseen complexities, and time constraints are propelling this demand. Cargo charter operators are indispensable for accessing remote airstrips and unserviced airports, catering to urgent commercial cargo needs, particularly in the booming e-commerce sector. These services are pivotal for penetrating new global markets and managing sudden demand spikes effectively.

Market Segmentation

The air charter services market is segmented by application (charter passenger, charter freight, and others), type (business charter services and private charter services), and geography (APAC, North America, Europe, Middle East and Africa, and South America). 

• The market share growth by the charter passenger segment will be significant during the forecast period. For the business aviation industry, the vendors are looking for an end-to-end payment platform that is specifically designed. It has brought a revolution in the business aviation payment industry, significantly contributing to the growth of the global air charter services market by easing out payment transactions. Developing economies like India are trying to achieve a higher market share in the global air charter services market by increasing their performance standards and enhancing infrastructure to promote growth and connectivity. Moreover, the vendors are looking for an end-to-end payment platform that is particularly developed for the business aviation industry. It has brought a revolution in the business aviation payment industry, greatly contributing to the growth of the global air charter services market by easing out payment transactions.