Jet Support Services (JSSI) has released its Business Aviation Index for 2018, reporting a year-to-date growth of 4.9 percent worldwide, with flight activity up 4.7 percent over the same period in 2017.
The Business Aviation Index tracks the use of approximately 2,000 business aircraft including jets, turboprops and helicopters worldwide. The index reports average flight hours flown on a monthly basis by region, industry and cabin type.
Neil Book, president and chief executive officer of JSSI, said: “Despite the dramatic market swings that defined the end of the year, flight hours were up significantly for both the quarter and the year, contributing to 2018 being one of the strongest years in a decade. We have seen flight activity increase worldwide and a growing demand for private travel.”
The index reveals regional increases were reported in almost every segment of the world, with the highest year-to-date increases reported in Africa at 17.4 percent, Europe at 8.8 percent, and South America at 8.1 percent.
The small cabin segment reported a 6.6 percent year-to-date increase and large cabins reported a 5.3 percent increase. Medium-sized cabins reported a decrease of 4.2 percent. Three of the nine industry segments analyzed reported year-to-date increases, with aviation at 9.1 percent, business services at 5.4 percent, and power and energy at 3.6 percent.
Aircraft operated for compensation or hire, including non-scheduled charter and air-taxi operations, reported a 9.5 percent year-to-date increase and an 11 percent increase in year-over-year activity.
Every aircraft age group analyzed reported a year-to-date jump in flight hours and newer aircraft, with less than five years in service, reported the largest increase of 7.2 percent.
Feature image by Beam Aviation