In 2024, business aviation is evolving in step with the major trends shaping the industry. From the relentless quest for greener aviation, to revolutionary technological advances, regulatory challenges and post-pandemic health safety imperatives, the business aviation landscape is in a state of flux. With AEROAFFAIRES, explore the main trends and challenges facing business aviation in 2024.
Looking back on 2023: a year of stabilization for business aviation
The year 2023 was marked by a period of notable stabilization for business aviation. After the unprecedented challenges encountered in previous years, notably due to the COVID-19 pandemic and its repercussions on the sector, 2023 was a year of consolidation and gradual recovery. Despite continuing uncertainties linked to the health situation and global economic fluctuations, business aviation demonstrated its resilience by maintaining a degree of stability. Industry players have adapted to new health and safety standards, implementing strict protocols to ensure the protection of passengers and staff.
On the economic front, although there was some turbulence, the industry managed to maintain a degree of regularity. Companies were cautious in their investments and business decisions, which helped to stabilize the market. In addition, business travel gradually picked up, albeit cautiously, with a marked preference for private flights offering greater control over the travel environment and greater respect for sanitary measures. Despite persistent challenges, the sector has demonstrated its ability to adapt and overcome obstacles.
WingX, the aviation data specialist, has just released its global business aviation figures. At the end of 2023, the global business aviation market is down by 6%. In Europe, the business aviation market performed very well. In fact, the European Business Aviation Association (EBAA) has announced an 8% drop compared with 2022. A total of 740,152 business aviation flights were recorded in Europe this year. Industry players (air brokers and airlines) note a slowdown towards the end of 2023. This slowdown is nothing to worry about. The market is stabilizing, returning to 2019 levels.
Paris Le Bourget airport tops the list of Europe’s fastest-growing airports, recording a 9.1% drop in traffic, according to EBAA. London (Farnborough and Luton) and Switzerland (Geneva Cointrin and Zurich) are also among the most dynamic airports in 2023. Last but not least, Istanbul-Ataturk ranks 10th, with a 7.6% drop in traffic in 2023.
Slight slowdown in air charter demand in 2024
Following on from 2023, trends reveal a changing landscape, where innovation, sustainability and passenger experience play crucial roles. After the disruption caused by the COVID-19 pandemic, the industry is adapting to new health and safety expectations. The post-COVID recovery coincides with global economic instability, while geopolitical tensions, notably in Ukraine and Israel, are influencing travel decisions and itineraries.
Medical repatriation is also becoming a key element in the private aviation sector, offering travelers additional insurance in the event of the need for emergency repatriation for medical reasons, and thus reinforcing customer confidence in the services offered. Thus, business aviation in 2024 navigates a complex environment, where managing health, economic and political challenges is essential to shaping its future.
Booking trends in business aviation 2024
Anticipation and diversification of travelers
Business aviation booking trends for 2024 follow a continuum from 2023. Private flight bookings are showing increased anticipation among travelers, who are starting to plan and book their trips earlier and earlier. This type of behavior can be explained in part by the importance of global events on the horizon, particularly in Europe with the Olympic Games scheduled for this summer in Paris or EURO 2024. Discover our article about the airports where planes will land during the 2024 Olympic Games.
What’s more, by planning their trips well in advance, travelers on tailor-made flights ensure that they have access to transportation options tailored to their specific needs, while avoiding any last-minute availability and organization constraints. This foresight reflects the growing importance attached to strategic planning of business and personal travel, as well as the increasing demand for top-of-the-range travel services to meet travelers’ most demanding expectations.
In addition, the organization of the Olympic Games and EURO 2024 expects to attract a more diversified private flight clientele in Europe. This diversification includes, in particular, an anticipated increase in the number of American travelers, a market that has been relatively under-represented in recent years.
Post-COVID economic challenges and impacts with stagnating private jet fares
Despite an almost 30% increase in private jet fares after the COVID-19 pandemic, due to the post-COVID economic situation and inflation, it is remarkable to note that demand for private flights has not only maintained its stability, but has also shown resilience in the face of economic challenges. This resilience of the business aviation sector demonstrates its ability to adapt and thrive even in difficult economic environments, underlining its continued relevance and value to business travelers. In 2024, we also note a stabilization in private jet rental rates since the beginning of the year.
A 360° service approach to travel for air brokers
Airline brokers are continually adopting a holistic and personalized approach to service delivery, offering a comprehensive range of solutions to meet the diverse needs of travelers. This 360° approach encompasses all aspects of air travel, from initial planning to final execution.
As intermediaries between travelers and air service providers, air brokers act as expert advisors, offering personalized advice and recommendations based on each traveler’s specific needs. Their extensive expertise enables them to manage a multitude of details, including selecting the most appropriate aircraft, managing itineraries, coordinating ground services and resolving unforeseen problems.
AEROAFFAIRES takes a comprehensive, integrated approach to meeting the complex and varied needs of travelers. By combining expertise, personalization and strategic partnerships, we provide tailor-made solutions and an exclusive travel experience, offering peace of mind and satisfaction at every stage of the journey.
The evolution of cleaner travel in business aviation and the impact of CSR for companies
The emergence of “greener” travel in business aviation testifies to a major evolution within the industry, where environmental awareness is now guiding the choices of travelers and companies alike. In response to growing concerns about aviation’s carbon footprint, business airlines are adopting innovative initiatives to reduce their impact on the environment, including :
- SAF (sustainable aviation fuel):
Several business aviation companies have adopted the use of biofuels in their flights. These fuels, derived from renewable sources such as oilseed plants, significantly reduce greenhouse gas emissions compared with conventional fuels.
Recently, Sustainable Aviation Fuel (SAF) was made available for all flights departing from Le Bourget. This marks a decisive step towards reducing the carbon footprint of business aviation by offering a more environmentally-friendly alternative.
- Electric and hydrogen-powered aircraft:
The emergence of innovative technologies, such as electric and hydrogen-powered aircraft, is opening up promising new prospects in the future of business aviation, offering more sustainable solutions for the future of private air transport.
Several companies are actively working on the development of these aircraft. AEROAFFAIRES has joined forces with BEYOND AERO to meet the emerging challenges of the aviation sector and offer innovative solutions to redefine industry standards.
- Carbon offsetting:
Some companies, such as AEROAFFAIRES, have set up carbon offset programs, investing in reforestation projects to neutralize the carbon emissions of their flights like SkyCO2.
- Aircraft manufacturers increasingly sensitive to ecological concerns:
Business aircraft manufacturers such as Bombardier and Gulfstream are actively working on the development of more fuel-efficient and less polluting models. The use of lightweight materials and more efficient engines contributes to improving the fuel efficiency of these aircraft. Some manufacturers are incorporating interior design concepts focused on sustainability, including the use of recyclable materials, waste reduction and energy-efficient lighting systems.
- Air traffic management:
Advances in air traffic management systems, such as SESAR (Single European Sky ATM Research), enable better optimization of flight paths by reducing fuel consumption and avoiding inefficient routes, favoring more direct approaches.
At the same time, training programs educate pilots on best practices for reducing fuel consumption, such as continuous descent approach methods, contributing to more energy-efficient operations.
Entertainment and ultra-customized on-board experiences for passengers
In 2024, trends reveal a growing interest in personalized and sophisticated entertainment experiences. The private aviation sector is striving to redefine the travel experience by offering travelers exclusive facilities.
On board, aircraft can offer a wide range of entertainment facilities, such as :
- Individual high-definition screens offering a variety of films, TV series, music and video games, providing a personalized entertainment experience.
- Internet connectivity enabling passengers to stay connected, work efficiently or enjoy online streaming thanks to high-speed Internet connectivity on board.
- Sophisticated ambient sound systems that create an immersive atmosphere on board, providing an auditory experience throughout the journey.
- Virtual entertainment including the integration of virtual reality (VR) technologies to offer immersive experiences, from virtual tours of destinations to interactive games.
On the ground, FBOs play an essential role in extending the ground entertainment experience. By extending the travel experience beyond the cabin, FBOs are part of a trend to offer global service and a luxurious atmosphere right from the first moments on the ground. FBOs can include services such as :
- Wellness centers with the integration of wellness services, such as spas or massage rooms, to offer passengers a relaxing experience before their journey.
- Ephemeral art galleries allowing passengers to enjoy art exhibitions while waiting for their flight.
Dedicated concierge services offering local recommendations, organization of special activities and personalized care of passengers’ needs. - Gastronomic experiences with tasting services allowing passengers to savor high-end dishes before their flight.
- The business aviation sector in 2024 is evolving in a complex landscape of environmental concerns, technological advances and fluctuating market dynamics. The ability to adapt to these challenges is essential to ensure the industry’s sustainable growth and success.
Digital and artificial intelligence, the future of business aviation
Technological advances are enabling an optimized travel experience and aligning with the development of greener aviation.
The integration of AI (Artificial Intelligence) continues to see significant growth in both private jet booking platforms and business jet cockpits. Enhanced booking functionalities, such as personalized recommendations and optimized itineraries, are increasingly present thanks to AI. In cockpits, AI is increasing its role in providing real-time analysis and enhancing flight safety.
Aircraft are equipped with advanced functionalities, including enhanced GPS for direct routing, in-flight communication systems for continuous connectivity, and sophisticated safety features, including collision detection and avoidance systems. The integration of augmented reality in cockpits enhances pilots’ vision, while data management is optimized via centralized digital platforms for greater operational efficiency.
In addition, the development of the Advanced Air Mobility (AAM) promises significant advances in autonomous and sustainable transport. Under development for several years and awaiting a launch date, this eVTOL (electric vertical take-off and landing) aircraft promises to see significant developments.
What conclusions can we draw from the 2024 business aviation trends?
In 2024, these advances are redefining the standards of business aviation, creating a modern, efficient environment where speed, sustainability, service, safety and connectivity converge to deliver an unprecedented flying experience. As these trends show, the year 2024 will redefine the needs and challenges of the business aviation sector, which will need to be increasingly responsible.
Between a tense geopolitical context, a slowing global economy and stagnating commodity prices, Europe is hoping that the fallout from sporting events will boost demand for private jet flights in 2024. Business aviation has more than one trick up its sleeve if it is to restore its image and continue to make its mark on tomorrow’s mobility landscape.
For AEROAFFAIRES, 2024 will be a year of accelerated progress towards more sustainable aviation, with commitments to Ecotree and partnerships with tomorrow’s aviation manufacturers. Indeed, AEROAFFAIRES will be stepping up its efforts by systematically offering a range of more environmentally-friendly aircraft (turboprops or aircraft using SAF). A pioneer in its commitment to the environment, AEROAFFAIRES will continue to engage its customers through the EcoTree program with a view to reforestation.
Need to charter a private flight? Our team is available 24/7 to answer all your questions. Get a quick quote via our online quote form, or contact us directly by phone on +33 (0)1 44 09 91 82 or by e-mail at charter@aeroaffaires.com.
