A new year of operations brings opportunities and surprises to the private aviation industry.
On top of growing market growth, 2018 showed evidence of some new trends in the business.
With market growth still on the rise, 2019 is set to be an eventful year for the private jet industry.
The private jet market is set to grow, slowly but steadily. The year 2019 will bring a new wave of providers, clients and in aircraft availability. In addition to that, the industry will experience a new wave of users such as Millennials who are ready to experience the amenities of private travel.
The aircraft sales market is stagnant worldwide. However, this evidence supports the growing pool of used planes, therefore increasing aircraft availability for operators and brokers.
Demand for Pilots
With this sharp increase in users and providers, the demand for private pilots is sure to rise. Boeing’s prediction that there would be a worldwide demand of almost 100,000 is becoming a reality. That shortage for private jet operators is due to significant factors such as less predictable schedules, the absence of bonuses and long-term stability that employees find appealing.
Besides the pilot shortage, forecasts suggest that there are some political factors behind the slow yet steady, growth. Additionally, the strong dollar, geopolitical uncertainties, and the weakened commodity prices, and are all having an impact on the market.
In every industry, companies need to constantly find ways to stay alive when the economy is uncertain. Since flying private is logically seen as a luxury, private aviation budgets tend to be reduced or even eliminated during lean periods as businesses as well individuals opt for cheaper means of transportation.
In times like these, private aviation providers need to find new ways to stay airborne despite the external strife by exploring new business lines like aircraft management, or renting charters for non profits such relief missions around the globe.
New Clients, New Experiences
The accessibility of private aviation via technology and digital platforms has led to an increase in new customers. This new influx of travelers is growing by the year. These are individuals, couples, groups and families ready to experience flying on a private jet for the first time. The offer of empty leg flights also helps, granting the opportunity to charter an aircraft for under 70 percent of its original cost.
With so many active players in the private jet market; small, large operators and brokers, customer experience will be the key variable that will determine allegiance. From digital booking, overall cancellation policies, to aircraft availability, the whole private jet experience needs to be enjoyable and uncomplicated.
Although private aviation is still accessible to a few, that niche is getting larger rather quickly, so enhancing the customer experience by aligning with today’s purchasing and service habits will be the way to go.
Outsource Whenever Possible
With factors such as Increasing costs, scheduled maintenance, the need to fly at least 400 hours a year to make it cost-efficient, it’s possible that more private flyers will opt for shared ownership and membership programs.
This is the reason why charter companies, and all the varieties of deals in the market (jet cards, fractional ownership, on-demand charters) have experienced growth. Many companies are choosing to outsource their private flying needs instead of owning a plane, however the total number of companies choosing to fly private by any means has increased.
Fly To Places Without Commercial Connections
Comfort and privacy aside, flexibility is what separates flying private to other means of transportation. The possibility to land at any airport in the world and to fully adapt to the client’s needs is unparalleled.
Private aviation is about arriving minutes before the flight and getting the most cost-efficient way to your destination. With the demand for private travel continually increasing, private operators as well as brokers need to start shifting the way they communicate their service, to appeal to those once-in-a lifetime travelers.
Offland Media has helped numerous private aviation brands generate leads through the best digital marketing practices. Outsourcing your lead generation efforts to us is your private aviation company’s fastest path towards implementing cutting edge strategies. Contact Offland online to learn more.