Research claims private jets will become affordable to millions more people

posted on 17th September 2018 by Justin Burns

New research amongst business aviation professionals has claimed that over the next five years advances in technology will make flying via private jet much cheaper and easier – predicting millions more people will start using business aircraft for the first time.

The average typical private jet customer is over 50, but 71 per cent of those interviewed believe by 2023, it will be below this. 59 per cent think it will be between 40 and 50, but 11 per cent think it will be below 40.  Only one in five predict the average age will still be over 50.

The research, which was commissioned by Revolution.Aero, the global meeting place for people who are reshaping, rethinking and revolutionising business and personal aviation, reveals 67 per cent of business aviation professionals believe advances in technology and apps will make it easier to book individual seats on private jets.

Over half (51 per cent) also think these developments will make it easier to charter out private jet ‘dead legs’ – aircraft flying without any passengers.

As many as one in four private aircraft flying at any one time have no passengers on board and can be chartered out at up to 75 per cent below standard rates.  Only 12 per cent of those interviewed predict that the number of dead-leg flights being chartered out will fall.

Alasdair Whyte, co-founder, Revolution Aero said: “Ten years ago there were maybe five apps focusing on the business aviation sector, compared to more than 50 now. Some 84 per cent of business aviation professionals expect there to be even more private jet apps on the market by 2023, with one in three expecting  significantly more.”

“In this data and technology revolution, there is so much more that can be done to enable owners of business aircraft to make their assets more accessible to potential customers, further enhancing the income (or contribution to costs) they earn from them.  This coupled with the greater flexibility in how business aircraft can be chartered will open up business jet travel for many more people.”

Revolution.Aero has its inaugural meeting in San Francisco on 1-2 October 2018. Some 200+ aviation professionals will be attending, including more than 50 founders or chief executive/C suite level.  There are also more than 20 professional investors and investment firms attending.