The Increase in Private Jet Ownership & Use

The use and ownership of private jets have increased over the past few years and is set to do so further. Commercial aviation has suffered significantly over the same period, with much uncertainty still in its recovery, but private aviation is on a different trajectory. Private jets offer more advantages than ever before in the “new normal” travel market.

While private jet travel was becoming more popular anyway, the events of the past two years have certainly expedited its growth. Times were tough in 2020 with global travel restrictions. By mid-2021, though, private jet activity worldwide was up 42% since 2020 and 10% from pre-pandemic levels.

This has continued in 2021 and 2022. In July 2021, CNBC reported the US market was seeing its highest ever private jet use.

Growth has been different across regions. The US market has led the charge (with demand up 50%). China, Australia, and Brazil have seen big increases too – Europe and Canada have been slower but are shifting now.

With all the disturbances and challenges during the pandemic, it is hard to make predictions. Looking forward, however, signs are positive. Forbes predicts private jet market growth will continue, and the overall private aviation market will emerge from the pandemic 5% to 10% larger than before.