The Economic Impact of the Private Flight Industry in the USA

5 November 2018   Around the Airport
Monmouth Jet Center At Monmouth Airport

While commercial aviation still takes the lion’s share when it comes to the numbers, accounting for an all-time high of 849.3 million passengers in 2017 alone, private flights are making an increasingly important contribution to the economy. Here are some interesting insights from Monmouth Executive Airport.

 

Interesting Facts About the Aviation and Private Jet Industry in the USA 

 

  • The USA alone accounts for a massive 49% of the entire private jet market with Europe following at just 20.8%.
  • Each year, private jet charter services contribute around $150 billion to the US economy.
  • The USA isn’t just the leader in private jet use, the aviation industry here is also the main center for operating, servicing, and maintaining the majority of the world’s private aircraft too.
  • The aviation industry in the USA employs over 1.2 million people across the country, from pilots and air crew to maintenance technicians, aircraft designers and engineers, and many more. The ripple effect expands when you consider the millions of jobs the industry supports indirectly – tourism, private airports, air traffic controllers, hotels, and private transport companies.
  • Many types of aircraft are also designed and built in the USA, often for sale on the European and Asian markets. These sales are projected to contribute an additional $8 billion to the economy in 2018.
  • Average jet charter rates vary widely according to aircraft type, with a Citation Mustang clocking in at around $1.674 per hour and a Gulfstream 550 at $8.640 per hour.
  • The USA also plays host to the biggest private jet travel event in the world – the Super Bowl. In 2017, over 600 private aircraft flew in for the event! The Masters Golf Tournament, Art Basel Miami Beach and the Kentucky Derby are also big events for private aircraft travel.
  • Travelers can reach ten times more airports when flying by private aircraft than by commercial airliner, as there are over 4.000 airports where you can land and take off.

 

Aircraft Hangar Space Available Now at One of the USA’s Leading Private Airports – Monmouth Executive Airport in NJ 

 

Aircraft are a significant investment in your brand and business, and storing your aircraft safely is essential to protect it from the elements and to reduce the repair and maintenance costs – which is why Monmouth Executive Airport is prioritizing hangar space in New Jersey. With custom built hangars, common-use hangars, t-hangars, and larger aircraft hangars with attached office space available now at rates competitive with those offered at Teterboro, Morristown Airport, and other regional jet centers, we offer convenience, expert services, and low stress airspace for private and charter companies – and a world class experience for your clients.

For more information about Monmouth Jet Center or aircraft hangars in New Jersey, please contact us or visit our website at http://monmouthjetcenter.com/

The New Monmouth Jet Center is ready now, and building for the future