Global Bizav Flight Analysis; Insights; Industry implications PDF Free Download
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© 2025 by WINGX ADVANCE GMBH | ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION Sep 2025
Global Bizav Flight Analysis; Insights; Industry implications
Contents
Business Aviation = non-scheduled flights on business jet and turboprop aircraft types
Source: WINGX; Global ATC and ADSB records 2
1. Global Utilisation Trends
2. Aircraft Type
3. Operator Type
4. Competitive Context
5. Industry Outlook
Global Business Aviation Flights Jan-Aug 2025 vs 2024, by region
Business Aviation = non-scheduled flights on business jet and turboprop aircraft types
Source: WINGX; Global ATC and ADSB records 3
North
America
Europe
Latin
America
Australasia
& Asia Pacific
Africa
2.6 %
4.0 %
21.3 % 1.8 %
Middle
East
0.7 %
6.3 %
Global YTD
Jets & Props
2.7 %
67%
10%
13%
1%
1%
7%
% = share of global
21%
38%
41%
Piston
(excl from map)
Turboprop
Business Jet
3.9M global business jet and turboprop flights so far this year, +2.7% on last year (+450 a day...)
6,694,664
15%
Business & General
85%
Other (Scheduled Ops, etc.)
66.5% North America
12.8%
Europe
10.4%
Latin America 1.4%
Middle East
1.3%
Africa
7.6%
Australasia & Asia Pacific
3,919,919
25,752,771
All Fixed Wing flight activity Business & General Geo distribution of Bizav Activity Trend Bizav YTD 2025
Global Business Aviation Deps: Jan-Aug 2025 vs 2024, by busiest 15 countries
Business Aviation = non-scheduled flights on business jet and turboprop aircraft types
Source: WINGX; Global ATC and ADSB records
Brazil, Italy, NZ strongest growth, with Australia and Germany declines.
4
15%
3%
16%
23%
27%
29%
14%
27%
12%
2%
26%
2%
45%
17%
54%
26%
40%
61%
48%
48%
54%
58%
62%
38%
52%
34%
48%
31%
86%
63%
54%
23%
29%
25%
17%
28%
50%
94%
22%
92%
21%
36%
Australia
United States
Spain
11%
11%
Bahamas
Canada
4%
5%
New Zealand
Brazil
Switzerland
Mexico
6%
France
Costa Rica
United Kingdom
11%
Italy
Global
100%
Germany
India
Large Jets SMID Propeller
160
154
123
88
86
71
58
55
43
38
35
34
31
26
2.452
3.923
2025 Departures (’000s)
2,4%
-2,5%
5,3%
10,2%
1,2%
0,6%
0,1%
7,7%
-5,6%
4,1%
5,7%
9,4%
-0,2%
0,6%
8,4%
2,7%
YTD Trends (Jets and Props)
4%
-12%
8%
-1%
5%
2%
0%
9%
-3%
9%
7%
2%
-1%
1%
0%
4%
4%
0%
1%
16%
1%
0%
2%
4%
-8%
4%
8%
-9%
0%
8%
5%
3%
0%
-2%
7%
7%
0%
0%
-3%
17%
-1%
-5%
4%
11%
-1%
0%
39%
2%
YTD Large YTD SMID YTD Props
Global Business Jet Monthly Traffic in 2019-2025
252,682
63,718
329,677
327,745
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
200,000
220,000
240,000
260,000
280,000
300,000
320,000
340,000
Feb Mar Apr May JunJan Aug Sep Oct Nov DecJul
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Business Jet Departures
Step-change in flight activity since the pandemic: 32% (4.7% CAGR) more flights. July and Aug busiest on record.
5
2023
2022
2024
2021 2025
2020
2019
vs 23
vs 22
vs 21
vs 20
3%
vs 24
1%
18%
74%
vs 19 32%
2%
YTD 25 Growth
6
Long Term view on North America Jet market
GFC trough -19% (911 was -14%), Covid was -24%, then rebound. L12M trend staying strong
-40
-30
-20
-10
0
10
20
30
40
50
60
70
80
Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 Jan-26
0
50.000
100.000
150.000
200.000
250.000
Jan-07
Rolling 12 months
Trend [in%]
184.721
247.368
4%
MAX
Departures per month
0 %
-24%
-35%
Monthly Departures ref Y1
L12M: Large Jet
L12M: Mid Jet
L12M: Small Jet
January 2007 August 2025
Colored lines = L12M trend ref Y2
Black line = month-month # sectors
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
GFC
“lost decade”
Pandemic
Coloured lines = L12M trend
Tracking week-week global trends in bizjet/month LTM trend & YOY weekly
Bizjets only: Turboprops excluded
Source: WINGX; Global ATC and ADSB records
-6,5
-6,0
-5,5
-5,0
-4,5
-4,0
-3,5
-3,0
-2,5
-2,0
-1,5
-1,0
-0,5
0,0
0,5
1,0
1,5
2,0
2,5
3,0
-7,0
W37 2024
W38 2024
W39 2024
W40 2024
W41 2024
W42 2024
W43 2024
W44 2024
W45 2024
W46 2024
W47 2024
W48 2024
W49 2024
W50 2024
W51 2024
W36 2024
W1 2025
W2 2025
W3 2025
W4 2025
W5 2025
W6 2025
W7 2025
W8 2025
W9 2025
W10 2025
W11 2025
W12 2025
W13 2025
W14 2025
W15 2025
W16 2025
W17 2025
W18 2025
W19 2025
W20 2025
W21 2025
W22 2025
W23 2025
W24 2025
W25 2025
W26 2025
W27 2025
W28 2025
W29 2025
W30 2025
W31 2025
W32 2025
W33 2025
W34 2025
W35 2025
W52 2024
-5% -2% -2% -3% -3%
3% 4% 6%
1%
-4%
13%
0%
8% 3%
20%
4%
-3%
1%
7% 9%
2% 2% 4% 5% 7%
-7%
4% 2%
8%
0%
4%
-4%
8%
3% 1% 1%
10%
4% 2% 2% 6% 2% 5% 4%
0%
1% 5% 5% 6% 4%
10%
0%
Weekly YOY growth
Rolling L12M YTD growth
Q1 2025
Q2 2025
Q3 2025 YTD
Q4 2024
3.0%
3.1%
4.0%
2.8%
Quarterly YOY flights
Trump 2 appears to spur rebound from 2023-2024 plateau, momentum stalled in April but since resuming
%
US & Europe – Comparing Business Jet Monthly Traffic in 2019-2025
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
110,000
120,000
130,000
140,000
150,000
160,000
170,000
180,000
190,000
200,000
210,000
220,000
230,000
240,000
Mar Apr May Jun JulJan Feb Aug Sep Oct Nov Dec
216,629
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Business Jet Departures US (+11.4% GDP vs 2019)
In both regions 2025 ahead of 2024, but in Europe, slender gains vs 2019, way behind the US
8
vs 23
vs 22
vs 21
vs 20
vs 19
vs 24
2%
-1%
12%
70%
27%
4%
CAGR YTD 19 – YTD 25 = 4%,
compares to 2% in 2015-2019
2023
2021
2024
2020
2025
2022
2019
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
55,000
60,000
65,000
70,000
75,000
Mar Apr May Jun JulJan Feb Aug Sep Oct Nov Dec
55,406
2023
2021
2024
2020
2025
2022
2019
Business Jet Departures Europe (+4.6% GDP vs 2019)
vs 23
vs 22
vs 21
vs 20
vs 19
vs 24
0%
-9%
13%
52%
7%
1%
CAGR YTD 19 – YTD 25 = 1%,
compares to 2% in 2015-2019
70%
North America
Europe
ROW
15%
15%
European market erosion since 2022: economic impact lagging Ukraine war
Ukraine war big impact on large cabin demand. Main headwind is economic stagnation since Covid bounce
99
5% -5%
34%
-22%
40%
29%
41%
15%
10%
23%
5%
6%
44%
15%
13%
19%
4%
5%
ECONOMIC
STAGNATION
WEALTH
HUB
GLOBAL INBOUND TOURISM
BUT
RUSSIA FLEET
MOVING TO
TURKEY &
MIDDLE EAST
9
12% -1%
29%
-17%
33%
29%
ECONOMIC
SLOWDOWN IN
CORE EU
MIL & GOV
ACTIVITY IN
NORDICS
2025 YTD
2019 YTD
GLOBAL INBOUND TOURISM
BUT
RUSSIA FLEET
MOVING TO
TURKEY &
MIDDLE EAST
IMPACT OF
UKRAINE WAR
ON DEMAND IN
EASTERN EUROPE
& RUSSIA
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Western Europe
British Isles
SE Europe
Northern Europe
Eastern Europe & Russia
Southern Europe
Regional share of flights
UK STILL A
WEALTH HUB
DESPITE BREXIT
Business jet flights in Europe 2025 vs 2019
X Major conflict on border
X Energy insecurity
X Economic stagnation
X Political instability
X Environmental activism
Back to the US: post-Covid cements Florida and Texas as core bizjet hubs
10
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
vs YTD 24
+2.0%
vs YTD 19
+19.7% vs YTD 24
+2.5%
vs YTD 19
+16.2%
vs YTD 24
+4.3%
vs YTD 19
+45.6%
vs YTD 24
+4.5%
vs YTD 19
+17.7%
Follow the money: HNW and corporate tax-migration from California to Florida and Texas
Florida #1
Austin
Scottsdale
Palm Beach
Greenwich and Darien
The Bay Area
110%
102%
93%
84%
82%
America’s fastest growing cities: Millionaire growth 2013-2023
Source: Henley & Partners 2023 Wealth Report
Business jet flights 2025 vs 2024 and vs 2019
Assessing US bizjet demand: leisure demand consistently more growth
11
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 Jul-25
Business Leisure
Business Jet Departures – stronger to leisure destinations
Note: total calculated only between the 20 airports examined
Leisure Airports Examined: KCRQ, KASE, KCHA, KEGE, KSAF, KJAC, KACK, KEYW, KMVY, KHXD
Business Airports Examined: KTEB, KVNY, KDAL, KHPN, KIAD, KMMU, KSDL, KBED, KPTK, KFRG
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Leisure Business
Sample-set leisure destinations generating much higher growth than typical corporate (139/115)
139
115
Index 2019 Leisure
Index 2019 Business
US – Weekday vs Weekend Trends
12
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
110,000
120,000
130,000
140,000
150,000
Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 Jul-25
Business Jet Departures – stronger for weekend travel
Weekday: Monday, Tuesday, Wednesday, Thursday
Weekend: Friday, Saturday, Sunday
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Weekday Weekend
Likewise, weekend travel much strong growth than weekday (132/123)
123
132
Index 2019 weekday
Index 2019 weekend
US – International vs Domestic Activity
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
200,000
220,000
240,000
Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 Jul-25
Domestic International
Business Jet Departures – bigger rebound towards international
International is small % but has much stronger during 19-24 (domestic stronger in 2025)
13
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
domestic intl
95%
28%
5%
72%
United States
Europe
125
175
Domestic
International
North America – Departures by Sector Length (NM)
14
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
110,000
120,000
130,000
140,000
150,000
Jan-19 Jan-23Jan-22 Jul-23Jul-21 Jan-24Jan-21 Jul-24Jul-20 Jan-25Jan-20 Jul-25Jul-19 Jul-22
Business Jet Departures – 87% flights <1000nm
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
1000 - 1500
1500 - 2000500 - 1000
2000+0 - 500
In L12M, 59% sectors <500NM, 28% 500-1000NM. Of remaining 10%, some declines showing up this year
123
130
136
130
118
500 - 1000
1500 - 2000
1000 - 1500
0 - 500
2000+
Sector Lengths Flown by Aircraft Segment (August 2025 TTM departures)
66%
54%
44%
54%
28%
29%
23%
26%
6%
10%
10%
10%
7%
19%
10%
4%
0%
Super Light/Light Jet
0%
0%
Ultra Long Range Jet Heavy Jet
0%
Super Midsize Jet
1000-1500 NM
1500-4000 NM
500-1000 NM
4000+ NM
0-500 NM
15
Even with ULR and HJ, largest share is short sector. 23% of ULR jet sectors are 1500NM+
Bizjets only: Turboprops excluded, Sep-24 through Aug-25
Source: WINGX; Global ATC and ADSB records
Contents
Business Aviation = non-scheduled flights on business jet and turboprop aircraft types
Source: WINGX; Global ATC and ADSB records 16
1. Global Utilisation Trends
2. Aircraft Type
3. Operator Type
4. Competitive Context
5. Industry Outlook
North America – Top Bizjet Manufacturers
17
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 Jul-25
Business Jet Departures
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Cessna
Bombardier
Embraer
Gulfstream
HawkerBeechcraft
Top 5 OEMs accounting for 83% activity. Bombardier and Embraer adding most (Embraer sectors +17% in 25/24)
125
138
174
128
97
Cessna
Bombardier
Embraer
Gulfstream
Hawker Beechcraft
North America – Top Turboprop Manufacturers
18
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
Jan-19 Jan-23Jan-22 Jul-23Jul-21 Jan-24Jan-21 Jul-24Jul-20 Jan-25Jan-20 Jul-25Jul-19 Jul-22
Business Turboprop Departures
Turboprops only: Bizjets excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Cessna
Daher-SocataPilatus
Piper Aircraft HawkerBeechcraft
Pilatus furthest biggest gains since 2019, and only TP OEM fleet with gains in 2025 vs 2024 (share 24% in 19, 28% in 25)
111
156
127
127
99
Cessna
Daher-Socata
Pilatus Piper Aircraft
HawkerBeechcraft
Global – Business Jet Activity (Departures) by Cabin Class
In Americas, Large Jet activity relatively small, Medium dominant. Small in Europe. Large is key in ROW.
19
44%
34%
22%
Small
Medium
Large
North America
49%
20%
31%
Small
Medium
Large
Europe
12%
18%
70%
Small
Medium
Large
Middle East
46%
33%
21%
Small
Medium
Large
Latin America
19%
18%
63%
Small
Medium
Large
Africa
36%
12%
52%
Small
Medium
Large
APAC and ANZ
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Global - Business Jet Activity (Flights Hours) by Cabin Class by region
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Small jet gains since 2019 tapering, notably in Europe. Medium jet momentum in US, Large Cabin in ROW.
20
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150
Jan-22 Jan-23Jul-22 Jul-23Jul-21 Jan-24Jan-21 Jul-24Jul-20 Jan-25Jan-20 Jul-25Jul-19Jan-19
136
132
124
North America trend in bizjet hours by cabin class (indexed to same month 2019)
Small Jets Medium Jets Large Jets
YTD 25 vs 24 cabin class hours trends by region
2%
4% 4%
Global
3%
4%
3%
North America
-4%
6%
4%
Europe
2%
1%
5%
Rest of World
North America – Business Jet Activity by Aircraft Segment
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
SMJ and ULR stand out for growth 25 vs 19, SMJ only 16% of active fleet but 25% of all departures
21
469,811
437,799
228,770
175,237
158,521
149,710
92,502
42,831
Light Jet
Super Midsize Jet
Heavy Jet
Super Light Jet
Midsize Jet
Ultra Long Range Jet
Very Light Jet
Entry Level Jet
3.8%
4.8%
4.3%
4.1%
2.2%
5.0%
2.4%
-7.4%
YTD 25 vs 24
28%
50%
10%
14%
3%
66%
39%
-14%
YTD 25 vs 19YTD 25 Departures
27%
25%
13%
10%
9%
9%
5%
2%
Share of Departures
25%
16%
14%
7%
9%
16%
8%
5%
Share of Active Aircraft
15.2
26.8
16.6
19.8
15.7
13.3
9.3
6.8
YTD hrs/month
North America - Business Jet Activity by Top 20 Aircraft Types
Bizjets only: Turboprops excluded, data through July-24
Source: WINGX; Global ATC and ADSB records
Phenom 300 (+19% YTD) and Challenger 300 the workhorses. Latitude and Longitude gaining share this year
(G700=56th).
22
145,232
141,828
111,549
111,220
70,883
58,749
57,253
52,439
51,637
50,393
48,829
41,767
41,547
38,130
37,012
36,965
36,904
35,264
34,849
31,984
Embraer-Phenom 300
Bombardier-Challenger 300 / 350
Cessna-Citation Excel / XLS
Cessna-Citation Latitude
Cessna-Citation CJ3
Bombardier-Challenger 600/601/604/605/650
Cessna-560 Encore / 5 / Ultra
Hawker-Hawker 700/750/800/850/900
Gulfstream G300/350/400/450
Gulfstream-GV/500/550
Hawker Beechjet 400/400A /Nextant
Cessna-Citation CJ1 / CitationJet / 525
Dassault-Falcon 2000
Cessna-Citation Longitude
Cirrus-SF-50 Vision
Gulfstream-G600/650
Cessna-Citation Sovereign
Cessna-Citation X / 10
Embraer-Legacy 450 / Praetor 500
Learjet 45
Grand Total 1,760,299
8%
8%
6%
6%
4%
3%
3%
3%
3%
3%
3%
2%
2%
2%
2%
2%
2%
2%
2%
2%
100%
Share
19%
4%
5%
7%
2%
3%
-3%
2%
5%
3%
-3%
-8%
1%
25%
22%
9%
-6%
-4%
23%
-4%
4%
YTD 25 vs 24YTD 25 Departures
95%
35%
5%
152%
63%
15%
-1%
-4%
2%
37%
8%
-13%
-3%
7.572%
414%
180%
-17%
-8%
208%
-7%
27%
YTD 25 vs 19
Contents
Business Aviation = non-scheduled flights on business jet and turboprop aircraft types
Source: WINGX; Global ATC and ADSB records 23
1. Global Utilisation Trends
2. Aircraft Type
3. Operator Type
4. Competitive Context
5. Industry Outlook
Operator Types Flown By Departure Country (August TTM departures)
35%
34%
32%
43%
24%
23%
27%
26%
31%
37%
20%
20%
18%
13%
21%
11%
19%
17%
7%
12%
6%
6%
17%
17%
7%
9%
5%
4%
16%
15%
6%
6%
5%
5%
7%
France Canada United Kingdom
0%
Brazil United States Global
Aircraft Management
Branded Charter
Fractional Ownership
Private Flight Department
Corporate Flight Department
Other
24
ACM contributes most hours. Big share for Charter in UK, for Private in Brazil, for Fractional in the US
“Other” includes Shuttle, Gov. / Military, Ambulance, Cargo, OEM, Training
Bizjets only: Turboprops excluded, Sep-24 through Aug-25
Source: WINGX; Global ATC and ADSB records
93%
Main Operator Types
7%
Other
24%
33%
5%
4%
32%
2% Ambulance / Medical
Cargo / Logistics
Government / Military
OEM
Shuttle
Training
Global
August TTM
Departures
Global – Activity (flight hours) by Operator Type
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Business Jet Hours by Month
Fractional Ownership and Private Flight Department hours have increased by most since Covid. Charter also solid.
25
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
110,000
120,000
130,000
140,000
150,000
Jan-19 Oct-22Apr-22 Jan-23Jan-22 Apr-23Oct-21 Jul-23Jul-21 Oct-23Apr-21 Jan-24Jan-21 Apr-24Oct-20 Jul-24Jul-20 Oct-24Apr-20 Jan-25Jan-20 Apr-25Oct-19 Jul-25Jul-19 Oct-25Apr-19 Jul-22
130
123
86
182
166
Aircraft Management
Corporate Flight Department
Branded Charter
Fractional Ownership
Private Flight Department
North America – OEM Deps Flown by Operator Types (August TTM)
27%
36%
56%
40%
33%
21%
24%
15%
24%
31%
18%
16%
10%
22%
16%
18%
15%
10%
13%
14%
15%
9%
9%
7%
Cessna Bombardier Embraer
1%
Dassault Gulfstream
Aircraft Management
Branded Charter
Fractional Ownership
Corporate Flight Department
Private Flight Department
26
Embraer fleet has 56% of its activity in Fractional, Gulfstream only 7%, with 33% in Corporate (Dassault 40%)
Bizjets only: Turboprops excluded, data Sep-24 through Aug-25
Source: WINGX; Global ATC and ADSB records
North America – Aircraft Segments Flown By Operator Type (August TTM)
22%
31%
51%
24%
33%
21%
19%
25%
21%
17%
17%
8%
15%
12%
13%
11%
6%
13%
10%
12%
11%
6%
10%
9%
11%
6%
4%
7%
7%
7%
4%
6%
Branded Charter Fractional Ownership Corporate Flight Department Private Flight Department
3%
Aircraft Management
3% 2%
7%
16%
1%
Midsize Jet
Ultra Long Range JetSuper Light Jet
Very Light JetHeavy Jet
Entry Level Jet
Airliner/Bizliner(Jet)
Super Midsize Jet
Light Jet
27
>50% of SMJ sectors in Fractional, 33% of Light Jet activity = Private. 17% of Charter is Super Light
Bizjets only: Turboprops excluded, data Sep-24 through Aug-25
Source: WINGX; Global ATC and ADSB records
16%
12%
14%
13%
12%
13%
18%
28%
6%
4%
4%
10%
10%
8%
12%
17%
17%
15%
13%
68%
74%
75%
72%
66%
68%
64%
57%
2019
3%
2020
3%
2021 2022
2%
2023
3%
20242015 2025 YTD
740 803 618 719 700 721 747 390
2%
Business jet deliveries are also tending towards the Program Operators
28
Global, business jet deliveries by recipient, 2015-2025
EU = End User (JETNET) = Private and Corporate Flight Department (WINGX)
CH = Charter Company (JETNET) = Branded Charter (WINGX), may include Aircraft Management (WINGX)
PH = Program Holder = Fractional
Other (JETNET) = Government, Military, Ambulance, may include Aircraft Management (WINGX)
Program
Program Holders have taken increasing share of deliveries, share smaller in 2025 – so far
Source: JETNET, data as of 18 August 2025
EU
PH
Other
CH
Contents
Business Aviation = non-scheduled flights on business jet and turboprop aircraft types
Source: WINGX; Global ATC and ADSB records 29
1. Global Utilisation Trends
2. Aircraft Type
3. Operator Type
4. Competitive Context
5. Industry Outlook
Global – Top 20 Operators (all operator types), for fleet and activity
Operators shown on individual operator name basis
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Flexjet, Vista America, fly Exclusive, Wheels Up >10%. Nine fleets operators >100 aircraft.
30
432,089
187,720
67,425
65,701
51,046
50,880
48,279
47,817
43,687
24,554
24,531
21,784
18,311
17,384
17,136
15,959
14,329
11,960
11,850
11,455
NetJets
Flexjet
VistaJet Ltd
NetJets Europe
Executive Jet Management
Vista America
Solairus Aviation
flyExclusive
Airsprint Inc
Jet Linx Aviation
Vista Germany
Contour Aviation
Baker Aviation LLC
Qatar Executive
Executive AirShare
Nicholas Air
Air X Charter
Thrive Aviation
Clay Lacy Aviation Inc
Top 20 Total
Global Total
1,183,897
4,157,118
Wheels Up Private Jets
YTD 25 Hours
698
312
104
122
320
91
310
110
130
144
77
2,708
24,963
41
41
41
30
29
58
27
21
32
YTD 25 Active Aircraft
North America
EMEA
APAC
LATAM
6%
11%
3%
-1%
-2%
1%
-1%
-4%
71%
-2%
-15%
0%
5%
100%
12%
-11%
-4%
24%
33%
-7%
4%
2%
9%
19%
3%
1%
-11%
22%
9%
11%
105%
10%
-2%
-11%
15%
110%
24%
7%
-1%
8%
25%
7%
12%
3%
YTD 25 vs 24 Hours YTD 25 vs 24 Active Aircraft
Hours distribution based on departure region
North America YTD 2025 – leading Charter + Fractional Operators
Top 15 operators in North America account for 75% of all Charter and Fractional hours
31
400,280
172,106
45,772
44,734
42,730
23,438
15,237
13,815
11,210
11,023
9,506
8,889
7,367
6,558
5,847
NetJets
Flexjet
flyExclusive
Vista America
Wheels Up Private Jets
Airsprint Inc
Executive AirShare
Nicholas Air
VistaJet Ltd
Thrive Aviation
Planesense
Clay Lacy Aviation Inc
ATI Jet Inc
Cirrus Aviation
Worldwide Jet Charter
Top 15 Total
Grand Total
818,512
1,086,355
37%
16%
4%
4%
4%
2%
1%
1%
1%
1%
1%
1%
1%
1%
1%
75%
100%
Share
9%
18%
10%
20%
103%
11%
6%
-1%
2%
26%
24%
3%
10%
-9%
3%
14%
8%
YTD 25 vs 24 HoursYTD 25 Hours
185%
218%
0%
77%
224%
42%
0%
168%
0%
239%
12%
261%
91%
5%
110%
50%
62%
YTD 25 vs 19 Hours
75.3%
Top 15
24.7%
Others
697
309
107
90
127
41
58
27
56
32
19
77
25
25
14
1,692
3,417
YTD 25 Active Aircraft
Operators shown on individual operator name basis
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
North America – leading 5 Fractional + Charter Operator Shares
North America Charter and Fractional Flight Activity – Share of Hours
Top 5 operators have collectively taken 16% share from smaller competitors
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Feb-19
Mar-19
Apr-19
May-19
Jun-19
Jul-19
Aug-19
Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
Aug-21
Sep-21
Oct-21
Nov-21
Dec-21
Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-19
Feb-24
Mar-24
Apr-24
May-24
Jun-24
Jul-24
Aug-24
Sep-24
Oct-24
Jan-24
Dec-24
Jan-25
Feb-25
Mar-25
Apr-25
May-25
Jun-25
Jul-25
Aug-25
Nov-24
NetJets
Flexjet
flyExclusive
Vista America
Wheels Up Private Jets
Other Charter and Fractional
32
Operators shown on individual operator name basis
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
North America – hours per aircraft unit for leading Operators
Business Jet Utilisation (hours/unit) by Month
flyExclusive and Vista Amreica getting significant gains in 2025
33
0
10
20
30
40
50
60
70
80
90
100
Apr-22 Oct-22Jan-22 Jan-23Oct-21 Apr-23Jul-22 Jul-23Jul-21 Oct-23Apr-21 Jan-24Jan-21Oct-20Jul-20 Jul-24Apr-20 Oct-24Jan-20 Jan-25Jan-19 Apr-25Oct-19 Jul-25Jul-19 Oct-25Apr-19 Apr-24
NetJets
Flexjet
flyExclusive
Vista America
Executive Jet Management
Operators shown on individual operator name basis
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
113
114
125
104
NetJets
Flexjet
flyExclusive
Executive Jet Management
34
Shift to high utilisation fleets in North America (Charter and Fractional)
© 2024 by WINGX ADVANCE GMBH | ACTIONABLE INTELLIGENCE FOR BUSINESS AVIATION | A JETNET COMPANY
Source: WINGX, ATC, ADSB Business Jets only
“Air Taxi”utilisation peaked in 2014, dropped off until 2022 post-Covid rebound, has mostly sustained
2014
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
46%
24%
11%
11%
9%
0-200
200-400
400-600
600-800
800+
2019
60%
16%
8%
10%
6%
2022
29%
19%
14%
25%
11%
2025
36%
21%
18%
6%
19%
16%
25% = number of bizjet
tails with >600h/Y
utilisation
20%
36%
0-200
200-400
400-600
600-800
800+
Hours per year
Business Jet Activity by Aircraft Age
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Youngest aircraft adding the most activity, with 24% share in 2025. Falling utilisation on older aircraft.
35
1,000,161
783,408
577,962
726,636
521,982
244,196
236,730
6-10
11-15
16-20
0-5
26-30
31+
21-25
Trend in bizjet activity by aircraft age
5%
33%
-5%
2%
4%
0%
4%
YTD 25 vs 24 Hours
2%
11%
-6%
-2%
-1%
-4%
3%
YTD 25 vs 24 (hrs / ac)YTD 25 Hours
7,123
3,502
3,139
4,465
3,070
1,715
2,523
YTD 25 Active Aircraft
Share of Flight Hours by Age Band
24%
19%
14%
18%
13%
6%
6%
6-10
11-15
16-20
0-5
26-30 31+
21-25
Share of Aircraft by Age Band
28%
14%
12%
17%
12%
7%
10%
6-10
11-15
16-20
0-5
26-30
31+
21-25
18
28
23
20
21
18
12
YTD 25 hrs / ac
Aircraft Utilisation (hours per aircraft) by Fleet Size
Utilisation much higher for fleets >20 tails (34 vs 20 per month), and +12% vs 2019 (vs smaller fleets flat)
36
0
5
10
15
20
25
30
35
40
45
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
16,000
Jul-22 Jan-23Jan-22 Jul-23Jul-21 Jan-24Jan-21 Jul-24Jul-20 Jan-25Jan-20 Jul-25Jul-19Jan-19
Average Hours
Per Tail
Per Month
Active
Aircraft Active Aircraft for fleets 20 or less tails (LHS)
Active Aircraft for fleets >20 tails (LHS) Average Hours per Unit for fleets > 20 tails (RHS)
Average Hours per Unit for fleets 20 or less tails (RHS)
Supply and Demand
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Contents
Business Aviation = non-scheduled flights on business jet and turboprop aircraft types
Source: WINGX; Global ATC and ADSB records 37
1. Global Utilisation Trends
2. Aircraft Type
3. Operator Type
4. Competitive Context
5. Industry Outlook
Big picture Headwinds and Tailwinds in next 12-24m
Industry trends positive in demand and supply, should offset macro negatives in short-term
38
Customer
Behavioural factors
Geopolitics, economy
and uncertainty
Airline services as
alternative
Ultra Wealth Creation
/ Emerging Markets
Regulation, Taxes,
and Optics
The industry has retained bizav
newcomers attracted by
convenience & protection during
Covid pandemic.
Black Swan events – Pandemic,
Ukraine, Gaza – have raised geo-
political risks and destabilized
economic conditions.
Slow and partial recovery in
airline services & connectivity
was key factor in bringing new
users to bizav since pandemic.
Pandemic period accelerated 10Y
phase of wealth creation, abetted
by easy money, emerging markets
and strong equity markets.
Bizav recovered from post-GFC
toxic image during pandemic but
then exposed to accentuating
climate critique.
Some erosion (cost, also <health
concern), but other elevated risks
(security, cyber) likely to increase
influx of newcomers to bizav.
Fragmenting geopolitical
consensus, economic uncertainty,
weak growth, rising inflation,
higher rates, political weakness
Airline rebuild is cautious and will
not restore reach and consistency,
provides opportunity for provision
of non-scheduled options.
Equity market vulnerability, inflation
concerns, offset by emerging
market growth and great wealth
transfer
Favourable tax depreciation
treatment boosting ownership
but regulatory costs & climate
optics weighing against flt dpts.
Key Factors
Trends & Insights last 2
-
3Y
Next 12M outlook Significance Direction
Double whammy from lockdowns
then Ukraine war, raising costs
and complexity across aircraft
production, ops and MRO.
Trump tariffs complicate supply
chain issues just as OEMs
unravelling disruption since 2021.
Cost of business will increase.
Supply chains and
production lines
Source: WINGX
US Uncertainty Index vs US Bizjet Flights
39
0
50
100
150
200
250
300
350
400
450
500
550
600
650
700
750
170,000
180,000
190,000
0
210,000
220,000
230,000
240,000
160,000
150,000
140,000
130,000
120,000
110,000
100,000
90,000
40,000
30,000
20,000
10,000
Jan-26Jul-25Jan-25Jul-24Jan-24Jul-23Jan-23Jul-22Jan-22Jul-21Jan-21Jul-20Jan-20Jul-19Jan-19
200,000
US Uncertainty IndexUS Bizjet Flights
US bizjet flights
US Uncertainty Index
Correlation Coefficient: -0.323
Weak negative correlation between US bizjet flights and US uncertainty
Turboprops only: Bizjets excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records; Economic Policy Uncertainty
16% strongly agree, 27% somewhat agree
JETNET IQ Q325 Survey:
Headwind: lagged effect of previous shocks on US bizjet demand
Bizjets only: Turboprops excluded; data through Apr-25
Charter = AOC flights (also Part 135)
Source: WINGX; Global ATC and ADSB records
40
-30
-20
-10
0
10
20
Apr-09 Apr-10Jan-09 Jul-10Oct-08 Oct-10Jul-08Apr-08Jan-08Oct-07Jul-07 Jul-09 Jan-10Oct-09
YOY
-30%
LB sets off 2008 Global Financial Crisis
-15
-10
-5
0
5
10
Aug-23Mar-23 Sep-23Feb-23 Oct-23Jan-23 Nov-23Dec-22Nov-22Oct-22Sep-22 May-23 Jul-23Apr-23 Jun-23
YOY
-11%
SVB sets off 2023 banking crisis
2018 Trump 1.0 tariffs
YOY %
change in
bizjet
flights
YOY %
change in
bizjet
flights
YOY %
change in
bizjet
flights
-5
0
5
10
Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Jul-18Jul-17 Jan-18Apr-17 Apr-18Oct-17
-5%
Full tariff impact on the economy may take several months, with effect on bizjet demand further lagged
Tailwind: Bizjet demand may still be enjoying boost from airline service erosion
Weaker and slower recovery in airline activity and service reliability post-pandemic
41
Departures vs same month 2019
-80%
-70%
-60%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
Oct-22
Jan-23
Apr-23
Apr-20
Jul-23
Jul-20
Oct-23
Oct-20
Jan-24
Jan-21
Apr-24
Apr-21
Jul-24
Jul-21
Jan-20
Oct-21
Jan-25
Jan-22
Apr-25
Apr-22
Oct-24
Jul-22
Jul-25
29%
6%
North America
-100%
-90%
-80%
-70%
-60%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Jan-20
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
Jul-24
Jul-23
Oct-24
Jan-24
Jan-25
Apr-23
Apr-25
Apr-24
Jul-25
Oct-23
-12%
11%
Scheduled Airline
Bizjet
Europe
Bizjets only: Turboprops excluded, data through July-25
Source: WINGX; Global ATC and ADSB records
Scheduled Airline
Bizjet
US – unique connections served by bizav vs major air carriers
US business aviation departures provide 20x more unique city pairs than the major US scheduled airlines
42
1,701,439
721,053
735,209
607,111
932,983
American Airlines
Business Jets
United Airlines
Southwest Airlines
Top Airlines Combined 2,996,356
Delta Air Lines
YTD 25 Departures
11%
6%
27%
7%
13%
38%
YTD 25 vs 19 Departures
3,016
3,553
2,923
3,204
8,496
172,170
YTD 25 Unique City Pairs
48%
27%
24%
30%
46%
51%
YTD 25 vs 19 City Pairs
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
Tailwind: growth in fractional activity - and more headroom to grow?
Bizjets only: Turboprops excluded
Source: WINGX; Global ATC and ADSB records
-25,0%
-20,0%
-15,0%
-10,0%
-5,0%
0,0%
5,0%
10,0%
15,0%
20,0%
25,0%
30,0%
35,0%
40,0%
45,0%
50,0%
55,0%
60,0%
65,0%
70,0%
75,0%
W1 2021
W1 2022
W1 2023
W1 2024
W1 2025
TTM Aug-25
Fractional activity maintaining steady double-digit growth. Strong aircraft orders and positive survey indicators*
%
13%
12%
21%
2007 2015 2025 YTD
NetJets and Flexjet share of
all US bizjet hours
Rolling L12M Growth
*ref RVA/JETNET Q3 2025 Survey
81%
US
Other
19%
80%
US
Other
20%
2019 2025
Regional Expansion?
*JETNET IQ Q325 Survey:8.4% use fractional, 11.8% considering it...
But maybe also a headwind– is Fractional replacing Corporate?
Corporate City Flows Fractional City Flows
1,205
1,195
574
556
548
545
541
525
436
428
Los Angeles (US-CA) - Las Vegas (US-NV)
San Francisco (US-CA) - Los Angeles (US-CA)
Los Angeles (US-CA) - San Francisco (US-CA)
Washington (US-DC) - New York
Las Vegas (US-NV) - Los Angeles (US-CA)
Dallas (US-TX) - Houston (US-TX)
New York - Washington (US-DC)
Rio De Janeiro - São Paulo
Phoenix (US-AZ) - Los Angeles (US-CA)
Houston (US-TX) - Dallas (US-TX)
YTD 25 Departures
-34%
-44%
-45%
-23%
-33%
-35%
-26%
47%
-27%
-45%
YTD 25 vs 19
1,376
1,343
2,167
2,134
1,349
970
910
1,432
729
Las Vegas (US-NV) - Los Angeles (US-CA)
Los Angeles (US-CA) - Las Vegas (US-NV)
San Francisco (US-CA) - Los Angeles (US-CA)
Los Angeles (US-CA) - San Francisco (US-CA)
Washington (US-DC) - New York
0
Dallas (US-TX) - Houston (US-TX)
New York - Washington (US-DC)
Rio De Janeiro - São Paulo
Phoenix (US-AZ) - Los Angeles (US-CA)
Houston (US-TX) - Dallas (US-TX)
YTD 25 Departures
69%
35%
37%
33%
87%
69%
28%
-100%
55%
97%
YTD 25 vs 19
Fractional operators appear to be taking over Corporate top routes. Overall 2019 index: Corporate 86, Fractional 182
Tailwind: growth in UHWNI in emerging bizav markets
45
Source: WINGX, Knight Frank Wealth Report
Top 10 US$10m+ Populations
122,119
85,698
69,798
64,988
55,667
51,254
42,789
42,715
905,413
US
Hong Kong SAR
Australia
France
UK
Canada
Germany
India
Japan
Chinese mainland 471,634
39%
5%
4%
3%
3%
2%
2%
2%
2%
20%
Share of Global HNWI Population
New Billionaires by Country
Traditional UHNWI in the West overtaken by growth markets to the East
But...UHNWI growth in China & India not yet generating substantial bizjet market
China’s active fleet seeing slight decline in growth
464646
Bizjets only: Turboprops excluded, data through Aug-25
Source: WINGX; Global ATC and ADSB records
0
20
40
60
80
100
120
140
160
180
200
220
240
260
280
300
320
340
360
Jan-23Jul-22 Jul-23Jan-22 Jan-24Jul-21 Jul-24Jan-21 Jan-25Jul-20 Jul-25Jan-20 Jan-26Jul-19Jan-19
China India
Business Jet active fleet
115
99
248
205
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150
160
170
180
190
200
210
220
230
240
250
Jan-19 Jul-22 Jul-23Jan-22 Jan-24Jul-21 Jul-24Jan-21 Jan-25Jul-20 Jul-25Jan-20 Jan-26Jul-19 Jan-23
29
China India
Business Jet active fleet (indexed to same month 2019)
95.9%
East Asia
0.8%
South Asia
0.3% South East Asia
ROW
1.6%
Central Asia
1.3%
Only 4% of global
bizjets are based in
Asia
Drawing some conclusions...
Source: WINGX; Global ATC and ADSB records
47
•After a plateau in 2023-2024, bizjet demand bounced from Trump 2.0 and has held up so far in 2025
•At least for the time being, growth in global activity is weathering macroeconomic concerns
•Variance by region, with European demand stagnant, some Asian growth, strong demand in Middle East
•Within the US, business jet demand has favoured Texas and Florida, less so North-East and California.
•Small jet fleet size and activity has tapered, with demand shifting to medium and large jets.
•In particular strong demand for SMJ and ULR, serving overlapping but also distinct customer demand
•Fractional operations flourishing, notably with Embraer aircraft, geographically strongest UK, Canada, US.
•Corporate Flight Departments are flying less, and the smaller Charter operators are losing share.
•More generally the large fleet operators are taking share, with youngest aircraft much higher utilisation.
•12M outlook favours positive industry trends to offset macro concerns, longer term outlook is foggy...
48
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