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Private aviation sees significant growth with increased flight hours in 2024

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Private aviation sees significant growth with increased flight hours in 2024
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NetJets | Official Website

The private aviation industry, which has been expanding since the early 2000s, saw notable increases during the COVID-19 pandemic. Wealthy travelers preferred private flights during that time for safety reasons. Despite a slight decline post-pandemic, the industry remains strong. According to Private Jet Card Comparisons, the US recorded over 3 million private jet flights in 2024, slightly down from 2023. However, some companies witnessed significant growth in flight hours year-over-year.

NetJets, a leader in the industry, reported 665,349 private jet flight hours in 2024. "This was a year-over-year increase of over 55,000 private jet flight hours, a 9.16% increase compared to the 609,000 private jet flight hours the company recorded in 2023." NetJets holds a 12.70% market share in the US private aviation market.

Flexjet ranked second in flight hour increases in 2024. "Flexjet saw a year-over-year increase of nearly 33,000 private jet flight hours, an increase of approximately 16.10%." Their total of 237,819 flight hours secured a market share of 4.54%.

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Airshare, based in Lenexa, Kansas, increased its flight hours by 85.24% in 2024 compared to 2023, achieving a total of 40,964 flight hours. This earned them the eighth position in the US private jet market with a share of around 0.78%.

flyExclusive, operating from Kinston, North Carolina, posted a flight hour increase of over 9,000, maintaining its status as the fifth most popular provider in the US, with over 1.2% market share.

Baker Aviation experienced notable growth as well, moving up to 13th place among private jet providers. According to Private Jet Card Comparisons, "the company saw an increase of 6,257 private jet flight hours. This brought the yearly annual flight hours to 13,893, which was an 82% increase from the 7,636 private jet flight hours the company saw in 2023."

These developments continue to highlight the private aviation sector's resilience and ability to adapt amidst changing market demands.

Organizations Included in this History
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