9 Riveting Facts About Private Aviation for 2022

On the heels of explosive growth in 2020 and 2021, the private aviation sector is already reaching new heights in 2022. But to understand exactly how big the industry is, and what its growth potential looks like in the years to come, it’s essential to view it in context. What facts and figures do private flyers, jet buyers, and aviation afficionados need to focus on as the industry reaches new heights in 2022?

Here’s a look at nine high-flying facts to consider as we look at the potential of private aviation:

1. There are roughly 22,000 active private jets in service. And this figure is growing faster than ever. Low used jet inventory was one of the major industry headlines in 2020 and 2021, and airframers have rushed to answer the call. Expect jets to enter service at an unprecedented rate in the years to come.
2. North America has the largest private jet fleet in the world. The North American fleet represents roughly 15,500+ jets, accounting for about 70% of the world’s total in-service jets. Here again, demand is sure to grow even higher as more Americans turn to private and semi-private air travel post-pandemic.
3. The global private jet market was valued at $24.21 billion in 2020. Even during the harshest economic year of the pandemic, the global market for private jets was thriving. While down from its 2019 valuation, figures are already rebounding. In 2021, the market was back up to $23.6 billion — and rising.
4. The market is expected to reach $36.94 billion by 2028, a 5.22% compound annual growth rate. Speaking of market growth, analysts expect private aviation to grow at a healthy rate of 5.22% for the next six years to reach a value of $36.94 billion. This growth will come on the heels of increased deliveries and additional interest from regional charters.
5. Florida, Texas, and California are the busiest states for charters. It’s no surprise the busiest states for domestic charters are home to some of the country’s largest urban epicenters. Also in the top 10 states, and for the same reason, are New York, New Jersey, Illinois, and Arizona.
6. There were 2.15 million private charters in 2020. 2020 marked a spike in private charters as droves of people turned to private air travel during pandemic uncertainty. Many first-time private fliers have continued to seek the comfort of charters, and some have become private jet owners themselves.
7. Seven of the top 12 business jet manufacturers are based in the United States. It’s no surprise that the United States leads the way in every major private jet growth metric. After all, this is where the world’s largest airframers reside. Boeing, Textron, Gulfstream, Cessna, and others all reside on U.S. soil, with strong production to anchor them.
8. Gulfstream’s G500 & G600 series were the bestselling jets in 2020. On the subject of strong deliveries, Gulfstream takes the cake as the most popular deliverer in recent years. Specifically, its G500 & G600 series accounted for 105 units in 2020. Coming in second was the Cirrus Vision jet, followed by Bombardier’s Global series.
9. Data predicts private aircraft sales will top $235 billion by 2030. If nothing else, these facts illustrate one thing: Private aviation is on an upward trajectory. Sales will top $235 billion within the decade. For private aviation, the sky is the limit, and there’s certainly enough momentum to propel this industry up, up, and away.