PrivateFly’s CEO and founder Adam Twidell has released a report highlighting his five key predictions for 2018. Last year saw more growth in the private aviation sector than at any time since the financial crisis, with activity up 4% cent year-on-year in Europe.
Twidell expects to see further market growth in both Europe and the USA in 2018. On demand business jet charter is predicted to drive this, particularly via disruptive business models that offer enhanced accessibility and visibility. Private jet users are expected to continue getting younger, with businesses needing to cater to the change in demands from this new generation of customers.
Elsewhere in the industry, PrivateFly predicts more merger and acquisition deals activity this year, particularly with charter brokers. Consolidation of businesses within general aviation has been a key theme over the past few years, with multiple deals coming to fruition.
An influx of new aircraft expected to come into the market this year are likely to disrupt the more popular models at present, with the Pilatus PC-24 rivalling the Embraer Phenom 300 – the bestselling new jet in the world in recent years. The new Bombardier Global 7000 is also expected to compete with the Gulfstream G650ER.
With cryptocurrencies and blockchain technology dominating the headlines in the latter months of 2017, PrivateFly expects the demands for alternative payment methods such as Bitcoin and Ethereum to boom in 2018.