Though most people assume that the rich and famous fly in private jets for the extravagance, the truth is that people usually fly privately to save time, to access remote areas or to be able to work or relax.
Last year, sales data from the General Aviation Manufacturers Association (GAMA) shows that business jet deliveries in 2017 grew. The annual data book reported 676 new business jets sold worldwide in 2017 compared to (667 unit sales in 2016). The increase was spurred by several new models entering the market.
North America is the largest market for business jets with almost 63.8% of the sales, while Europe is next with 17% of sales. Market shares in globally show increases in Asia and decrease everywhere else compared to the previous year.
Expectations of Private Fliers
Private flyers are looking for range, the distance a plane can fly, followed by affordable operations, cabin size, speed, cabin amenities, and technology. The age of the aircraft is not significant.
Fifty-three percent of flights transport three to five passengers, 27% carry two passengers, and 8% transport just one person. Most flights are under 1,500 miles, followed by flights under 500 miles. Lastly, only six percent of passengers fly 3,000 miles or more. This shows that fewer people are taking off to the French Riviera. Most are flying for business within the US.
Since private jets fly at the same speed as commercial flights, most private jets arrive earlier because they don’t have unexpected delays of airport congestion to deal with. For flights under two hours, private jets can reduce total travel time by more than half.
North America is the where business aviation is most popular, perhaps as a result of the distances. In the US, private flights account for 71% of all flights compared to Western Europe at 9%, Asia Pacific at 4% and South America at 3%. Even so, only 7% of Americans use private jets for intercontinental flights. Meanwhile, 52% of travelers don’t order catering and 24% don’t have flight attendants.
As for favorite private jet brands, 76% of travelers prefer Boeing BBJs. Yet in the ultra-long-range jets category, 62% prefer Gulfstreams G650/650ER, while the G450 was the most popular large cabin private jet. Also, 34% prefer the Bombardier Challenger 300/350 in super midsize cabin jets, and 34% prefer the Cessna Citation Latitude in midsize jets.
The Embraer’s Phenom 300 was the most popular among light jets while the Cessna Citation 525 M2 was the most popular in the very light jet category. Finally, 74% preferred the Beechcraft King Air in twin turboprops and 63% preferred the Pilatus PC-12 in single-engine turboprops.