Press Release: January 07, 2019
The global chartered air transportation market, one of the segments of transportation services industry. During the historic period it grew at a compound annual growth rate (CAGR) of around 3.5%. This can be attributed to high demand for long-haul international services, development of air transport in developing countries and increased per capita income in emerging economies such as China, India, the Philippines, Indonesia, Malaysia, Brazil, and South Africa has contributed towards the growth of transportation services market during the historic period.
For the forecasted period, the market size is expected to be over $7000 billion by 2021, growing at a CAGR of nearly 5%. The growth rate for forecasted period is higher when compared to the historic period. This is attributed due to increasing investments in transportation networks in remote areas and increasing connectivity in emerging economies such as India, China, and Brazil, increasing government investments, low oil prices and increasing adoption of big data analytics to analyze consumer behavior is expected to drive the market in the forecast period.
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Online ticketing platforms has entered the chartered air transportation industry to reach the customers globally. Though these online ticketing platforms, customers can book a charter plane according to their convenience. These services are widely available in tier-1 cities and as establishing in tier-2 cities too. BookMyCharters, flyvictor, stratajet are some of the online chartered flight booking websites.
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