A couple of times a year we review various publications that come our way in the business of flight to find hidden nuggets of information that help us formulate ideas and opinions and to just remind ourselves of what a great industry this is.
This week we were flipping through NBAA’s Business Aviation Fact Book and thought you might be interested is some of the observations they make about the industry. In no in particular order, here are 7 items (out of many more) that we found interesting:
- It’s big money. Business Aviation contributes $150 billion to the U.S. economic output, employing over 1.2 million people.
- Small is big in our business. Small companies operate the majority of business aircraft. 59% of those operating business aircraft have less than 500 employees. 97% are operated by a broad cross-section of organizations including governments, universities and even charities.
- Operating a business aircraft means you’re a well-managed global company.Business aircraft owners dominate the lists of companies with the strongest corporate governance and responsibility, revenue growth and market share.
- It’s not just for the boss. Most business aviation flights are for time-critical trips that involve sales people, technical and middle management employees.
- More airports mean efficient access. Business aviation serves over 10 times the number of airports than commercial airlines. That means private jet users can get to where they need to be faster and more efficiently. It also means that companies can reach multiple destinations in a single day to achieve results.
- It’s not just about moving people. Private jets are commonly used by corporations to move critical equipment to key locations to minimize downtime and increase productivity.
- New customers every day. With the advent of apps and digital booking for charter aircraft, more customers are trying business aviation services on demand. Many of these charter customers are new, first-time users.
One thing is for sure, the business of flight continues to grow and those who realize the efficiencies it offers reap the benefits.