With the lightning speed of technological evolution, business aviation sector is also changing. According to a new research, over the next five years, advances in technology will make flying via private jet much cheaper and easier. It predicts millions more people will start using business aircraft for the first time.
The average typical private jet customer is over 50, but 71% of those interviewed believe by 2023, it will be below this. 59% think it will be between 40 and 50, but 11% think it will be below 40. Only one in five predict the average age will still be over 50.
The research, which was commissioned by Revolution.Aero, the global meeting place for people who are reshaping, rethinking and revolutionising business and personal aviation, reveals 67% of business aviation professionals believe advances in technology and apps will make it easier to book individual seats on private jets.
Over half (51%) also think these developments will make it easier to charter out private jet ‘dead legs’ – aircraft flying without any passengers. As many as one in four private aircraft flying at any one time have no passengers on board and can be chartered out at up to 75% below standard rates. Only 12% of those interviewed predict that the number of dead-leg flights being chartered out will fall.
Alasdair Whyte, co-founder, Revolution Aero said: “Ten years ago there were maybe five apps focusing on the business aviation sector, compared to more than 50 now. Some 84% of business aviation professionals expect there to be even more private jet apps on the market by 2023, with one in three expecting significantly more.”
“In this data and technology revolution, there is so much more that can be done to enable owners of business aircraft to make their assets more accessible to potential customers, further enhancing the income (or contribution to costs) they earn from them. This coupled with the greater flexibility in how business aircraft can be chartered will open up business jet travel for many more people.”
Revolution.Aero has its inaugural meeting in San Francisco on 1st – 2nd October 2018. Some 200+ aviation professionals will be attending, including more than 50 founders or chief executive/C suite level. There are also more than 20 professional investors and investment firms attending.