How are Private Aviation Firms Rebounding with Innovative Ideas?

Anusree Bhattacharya | December 28, 2021 | 143 views

The pandemic has fueled the private aviation segment boom. It has raised many new aviation business bodies.

While the private aviation segment was once reserved for millionaires and A-listers, it now has aircraft that look for more quick and secure gateways.

“We’ve flown more for businesses now than ever, based private jet travel provider PrivateFly. This is the time to use capital to travel safely. We’re seeing sales year-to-date matching with 2020. The sales are outperforming in the private jet market. And since the pandemic hit, we have seen striking changes in clients’ profiles and buying habits."

- Adam Twidell, CEO and founder of UK


Despite the ongoing dimness of the growth of the aviation industry, there has been a fresh influx of customers for private jets.

The pandemic empowered the private aviation companies. As a result, the private jet market has noticed a higher demand of 72% healthy since 2019.

About this, Adam Twidell mentions that private aviation is cautiously hopeful about the future for private jet travel.So, how is the private aviation market growing? How is private jet travel becoming popular? Let’s understand it.

Why are Private Jet Companies Taking Off?

Today, many business travelers are seeking a safer way to fly due to the ongoing effect of the pandemic. As a result, the term ‘safer’ fly has turned to private jet travel.

Its appeal in the present time has been evident. But some reasons that support the answer behind arethe taking off of private aviation companies are as follows:


The Uncertainty of Commercial Aviation

A drop in airline operations throughout the pandemic is one of the reasons. On the other hand, the pandemic facilitated an increase in the number of new business travelers in private aviation.


A Shift in Consumer Behavior

The surging number of first-time flyers have learned to invest in safety. Consumers are beginning to understand that investing in safety is essential today. Consequently, private aviation is not considered a luxury but a common choice as a reliable travel solution.


Control & Flexibility

The evolving new technologies in aviation have now created controllable operations. Such advancement has enabled aviation businesses to recover rapidly. Similarly, the private aviation sector is passing the power to customers to choose scheduled flights. The flexibility of the travel segment has added a value in terms of safety for business travelers.

“For companies looking to fly more frequently, they may get a jet card membership award. It will be a one-off charter and the commitment of jet ownership. You get a consistency of aircraft services like fixed prices and flexible terms."

- Twidell

More Options for Domestic

The domestic aviation sector is recovering compared to the international sector, which is still down by 20% as compared to 2019 as per IATA. All of this is due to the innovation by private aviation companies.

What do these key reasons show us? First, private aviation has constantly been reaching extraordinary heights and serving outstandingly in the new normal.

In this case, some prominent private aviation companies are doing wonders in the aviation industry. They are bringing innovative ideas and reshaping global businesses effectively.

So, who are they? What are those private aviation companies doing? Let’s know further.


The Best of 4 Private Aviation Firms Reshaping Aviation

Business aviation is expected to reach a valuation of more than 2 billion in 2022. This would be more than twice the valuation recorded in 2019, as per the Global Insights Market research study.

So, let’s study some of the most sorted-out private aviation firms. And how they are making innovatory inclusions in the aviation industry.


XOJET

Xojet is known as “Uber for the airways,” being the third-largest North American private aviation company. Xojet partnered with JetSmarter – the world’s largest mobile marketplace for private jets. They aim to bring novel opportunities, ways, and ideas to reshape the industry once again.

Xojet took advantage of digitalization and made the idea of “Uber for the airways” on-demand and straightforward. JetSmarter now serves as the exclusive digital distributor for XOJET’s aircraft, which has provided access to a new technology player—an unparalleled supply of premium jets.

“This shared venture is all about efficiency, which makes us more successful in assisting our clients.” And we will be able to accelerate the process of providing a digital solution for them.”

- Brad Steward, CEO of Xojet

The real opportunity is to put the 11,000 private jets in service in the US. And most of them would fly at an average of 200 hours annually at 30% capacity. As a result, XOJET generated more than $300 million worth of revenue in the second quarter of 2020. So, it is undoubtedly the digitization of private aviation that is concreting the pathway of growth of the industry for the future.


NetJets

NetJets has been serving as one of the oldest and largest private aviation companies. It accumulated a fleet of around 700 jets globally. NetJets’ plans for the first supersonic business jet with its sizeable fresh capital front. It plans to build a supersonic aircraft and is working with innovative and creative partners and private jet manufacturers.

Additionally, NetJets has received a delivery of 25 new private jets so far in 2021. It expects to spend around $2.5 billion to add another hundred jets by the end of 2022.


VeriJet

VeriJet started offering aircraft engines based on cruise missiles and carbon-fiber fuselages. With the help of low emission techniques, the engines are more durable and promote efficient flying. In addition, it has involved artificial intelligence assistance with one pilot. AI helps the jet with landing and other flight operations.

Richard Kane, VeriJet’s chairman, and CEO is counting on “carbon shaming” and promotes go-green emission and fly efficiently.


Clay Lacy Aviation

Clay Lacy Aviation has earned a reputation among other prominent private aviation users for its Waterbury-Oxford (KOXC) operations and maintenance facility. It has actively provided jet charter and looks after maintenance, aircraft management, repair, and renovation capabilities.

“We have offered solutions for clients by providing the first charter to professional aircraft management. From heavy maintenance inspections and cabin upgrades. We offer all at the best value.”

- Clay Lacy Aviation

With this, Clay Lacy experienced an 80% growth over the first 18 months. The growth was recorded by word of mouth spread rapidly across the region based on the East Coast at airports from New Hampshire to Florida.

Apart from this, a data-driven approach to private jet manufacturers and management constantly compares clients’ operating parameters. The process thus ensures that the asset is well-maintained and operates efficiently.

The Demand for Private Aviation is Still Rising

Experts say that the private aviation sector saw an uptick in 2021. In addition, the private aircraft firms witnessed a gradual rise in business from August 2021.

The aviation industry has been tested for a long time when it comes to adapting to diverse requirements. But, in the end, the industry has smartly evolved through challenges over technology and innovation. And the numbers should only proceed to grow now as global businesses recover their positions in late 2021.

“While the business aviation industry continues to experience a thriving market, the longer-term picture will clear step-by-step.  Well-known issues such as the pilot shortage, collapse in values of used jets, lack of OEM innovation, rising operational costs have been recognized well, and the industry will cope soon.  As a result, the overall environment is prepared for bringing in innovation from every aspect.”

- Peter Maestrales, CEO, Airstream Jets

Frequently Asked Questions


What is the valuation of the private aviation market?

The private jet aircraft’s market size was $24.4 billion globally in 2019. But during the pandemic, the valuation diminished by $20.1 billion. According to recent calculations, for the first quarter of 2021, the private aviation sector grew to a share of $23.6 billion.


What countries have the most private jet operations?

The United States occupies first place in private jet operations. But then, Europe is counted for having a big part of private jet operations.


Why is the private aviation sector becoming more popular?

Private flying has gained popularity because it has fared better than commercial operators. In addition, it has offered convenience, safety, time-saving, flexibility, and costs.

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GOL Linhas Aereas Inteligentes

Here in GOL have a clear objective: We want to reduce distances. Bring there to here. Fro. And so everywhere. And if we want to join, we must be united. It's simple: A company is outside only what turns reality inside. So ... we called. Technology and security. Practicality and comfort. Innovation and experience. With each new passenger, every arrival and departure, each time people hugging and hand squeeze is GOL.

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Inmarsat and Teledyne Controls Partner to Support Airline Digital Operations Across Europe as Part of Iris Programme

Inmarsat | September 29, 2022

Inmarsat today announced a new technology partnership with Teledyne Controls, a leading manufacturer and innovator of aircraft data management solutions, to enhance and support airlines’ digital operations across Europe as part of the ground-breaking Iris air traffic modernisation programme.The partnership will see the integration of Inmarsat’s SB-S platform, powered by its global ELERA satellite network, with Teledyne’s Aircraft Interface Device (AID+)-enabled GroundLink Comm+ communication system and third-party Electronic Flight Bag (EFB) software, currently installed on over 14,000 aircraft with 200 airlines. Combining Inmarsat and Teledyne’s innovations into one comprehensive, end-to-end solution will help bring real-time IP connectivity to aircraft across Europe. This partnership means more airlines can reap the benefits – from reduced delays, fuel savings and reduced carbon emissions, to better situational awareness for pilots – achieving greater return on investment (ROI), which is critical as the aviation industry looks to continue its recovery from the impact of the Covid-19 pandemic. “Inmarsat is excited to partner with Teledyne to optimise our airline customers’ operations even further through next-level innovation. For airlines, the combination of technologies across a wider choice of airframes through retrofit, will enable more accurate flight tracking and a reduced environmental impact, while passengers will benefit from fewer delays and shorter flight times. All of this means Inmarsat’s customers can get a great return on investment on their technologies, bolstering their bottom line.” Joel Klooster, Senior Vice President of Aircraft Operations and Safety at Inmarsat Aviation Teledyne Controls’ technologies offer advanced capability in automatic data exchange, accelerating data transfers between airborne systems, ground-based equipment, and the cloud – as well as transferring critical data while in-flight. This includes continuously sending avionics data to support flight data monitoring and aircraft tracking, offering operators consistent, near real-time updates on selected data. In addition, Inmarsat and Teledyne will integrate and test with commercial ‘off-the-shelf’ EFB applications from a variety of third-party partners. Demonstrating applications collaboratively, such as real-time multi-source meteorology, System Wide Information Management (SWIM), flight profile optimisation, and electronic document management for crew, will validate further the commercial advantage of connected aircraft to airlines. Jim Jackson, Vice President of Business Development and Strategy at Teledyne Controls, said, “By leveraging Inmarsat’s ELERA network and SB-S platform through this partnership, we are able to extend our capabilities and the innovations they bring to customers even further. Our combined technologies will promote sustainability for the airlines through optimisation with real-time data to the flight deck and the ground. Now more than ever, we want airlines to be able to reap the rewards of their investment in technologies, and we are thrilled to be working with Inmarsat to deliver this for our customers.” ABOUT INMARSAT Inmarsat delivers world leading, innovative, advanced and exceptionally reliable global, mobile communications across the world – in the air, at sea and on land - that are enabling a new generation of commercial, government and mission-critical services. Inmarsat is powering the digitalisation of the maritime industry, making operations more efficient and safer than ever before. It is driving a new era of inflight passenger services for aviation, while ensuring that aircraft can fly with maximum efficiency and safety. Furthermore, Inmarsat is enabling the rapid expansion of the Internet of Things (IoT) and enabling the next wave of world-changing technologies that will underpin the connected society and help build a sustainable future. And now Inmarsat is developing the first-of-its-kind, multi-dimensional communications network of the future, ORCHESTRA. ABOUT TELEDYNE CONTROLS Headquartered in Southern California, Teledyne Controls LLC is a wholly owned subsidiary of Teledyne Technologies Incorporated (NYSE: TDY). Teledyne Controls is a leading manufacturer and innovator of a wide range of data management solutions designed to help aircraft operators collect, distribute, and analyze aircraft data more efficiently. Teledyne Controls maintains worldwide facilities and a global network of field representatives to support its many airline, airframe, and military customers.

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