Happy 2023! In case you haven’t heard, all signs point to this year continuing to be a busy time for flying jet charter. After finishing a record-breaking year in 2022 for the aviation industry, the forecast for 2023 looks even better. Since COVID hit the market, private aviation has grown exponentially in popularity, and there is no end in sight.
If you’re planning to charter a jet in 2023, here are some things to know about the market and the current state of the industry.
Supply and Demand Issues Affect Aviation
Demand for private jets continues to increase. In fact, Honeywell is expected to deliver nearly 9,000 new jets worth $274 billion between 2023 and 2032. Demand is up 15% from last year, and many experts predict these numbers will continue to increase for several years. Despite the market and economic conditions, buyers and passengers are still interested in flying jet charters.
Meanwhile, manufacturers are trying to keep up with the demand for aircraft production, amid the post-COVID supply chain issues. Some experts report that the need is so high that there is a year’s worth of backlogged orders for new jets, and at the same time, the inventory of used jets remains at an all-time low. On the bright side, when the market eventually levels off, manufacturers are expected to catch up. Consequently, the forecast for the private jet industry remains strong.
At RAI Jets, we meet demand with our own fleet as well as access to a broad network of aircraft. We work to get you the flight you need when you need it.
Air Charter Remains Popular with Business Travelers
According to a survey conducted by Airbus Corporate Jets with heads of fortune 500 companies:
- 83% believe their organizations will increase their use of private aviation in 2023. (As much as 50%)
- 63% believe private aviation reduces the carbon footprint and avoids problems that plague commercial airlines (cancellations, delays, long lines).
- Nine months into 2022, private business charters were up 12.5% from 2019.
These are staggering numbers for the private jet industry compared to pre-COVID years. On the recreational side, flying jet charter was up 10% this past year. The increase in charter jet leisure travel is likely because of the many benefits, including the convenience of travel (no lines, minimal delays, security), privacy (your own space, amenities, conduct business/calls), and on-demand flights.
What does this mean for you? If you’re making plans for flying jet charter, know that because of increased interest from the business market, you’ll need to book your private flight as early as possible!
Jet Cards Remain Popular
Have you heard of jet cards? If you are interested in frequently flying jet charter, a jet card is a convenient way to book and pay for private flights. The jet card houses pre-purchased flight hours, which makes booking quick and painless. We recommend the RAI Jets “Life of Riley” jet card, which is perfect for all your private aviation needs. With a jet card, you receive lots of benefits:
- The ability to purchase flight time in large blocks to use on-demand.
- Fixed rates every time you fly, with no quote necessary.
- Free upgrades
- Personal Concierge
- Flight time balances that are transferable, refundable, and never expire.
We hope 2023 will be the year you’ll charter a private jet with RAI Jets. As the demand for jet charter continues, RAI Jets will uphold our commitment to safe, stress-free, luxury travel. Put “flying jet charter with RAI” on your list of 2023 goals and call us to make it happen at 800-247-2834
Podcast: Will The Business Aviation Market Be As Buoyant In 2023? | Aviation Week Network