In 2020, the global private jet market size was $24.21 billion, which has been steadily increasing since. The industry is projected to grow from $29.03 billion in 2022 to $38.34 billion by 2029, growing at a rate of approximately 4 per cent per annum.

A lot of this growth, particularly in the GCC countries, is a result of the growing need for freight charter services. The air cargo market in the Middle East and North Africa (MENA) region is anticipated to climb from $17.70 billion in 2021 to $27.82 billion by 2028, at a growth rate of 6.7 per cent per annum, primarily because these countries host some of the world’s most important airport hubs.