Private jet ownership is on the rise, with one of the primary reasons being that "ownership" has become more affordable, thanks to models like fractional ownership. There's also the increase in the number of wealthy folks, and more people are taking their health and safety during air travel more seriously.
The growth of the private jet market is in the numbers. As an article published by the newspaper The Wichita Eagle notes, it had a value of $26.6 billion in 2024, a figure projected to soar to almost $50.8 billion by 2034.
By understanding the perks and pros of luxury air travel, you can determine whether owning a jet makes sense in your case, and if so, what your options for ownership are.
How Much Does It Cost to Own Your Own Private Jet?
Whether you buy a brand-new or a used jet, it will cost you millions in the long run.
Financial media and advisory website Investopedia reports that the "least expensive" brand-new jet you can buy has a $2 million sticker price. Used options are available for about $250,000. On top of this is the ongoing cost of private jet ownership, ranging from $500,000 to $1 million yearly.
How Does Private Jet Ownership Work?
There are several ways to achieve private jet ownership, including full and fractional jet ownership.
Full ownership (also referred to as whole or complete ownership) means you own the entire aircraft yourself. You have complete control over its management and itinerary, from when and where to fly it to its amenities and in-flight experiences.
There's a lot of prestige that comes with full ownership, but it also comes at a high cost. Since you'll own the entire aircraft yourself, you'll have sole responsibility not just for its purchase price but also the ongoing expenses associated with its ownership.
Fractional jet ownership, on the other hand, refers to a private aviation market model in which you only buy a portion of an aircraft. It provides many of the same private jet benefits as whole ownership, including guaranteed access, prestige of ownership, and highly personalized travel itineraries.
Why Is Private Jet Ownership on the Rise?
Private jet ownership is on the rise because, thanks to fractional ownership, owning a jet has become more affordable. Along with this is the increase in the number of affluent individuals and those who prioritize their health and safety during travel.
Affordability Through Fractional Ownership
Owning a jet through fractional ownership will cost you less than whole ownership, as you'll share the aircraft with several other co-owners. You'll pay less upfront, too, as you'll only buy a fraction of the jet.
With fractional ownership, you'll also spend less in the long run, given that you'll share the ongoing expenses (e.g., maintenance and insurance) with the rest of the owners.
All those benefits have made private jet ownership more viable and feasible for a greater number of individuals.
Increase in the Number of Wealthy Individuals
Another factor influencing the growth in private jet ownership is the soaring number of wealthy individuals, from millionaires to the ultra-rich.
According to CNBC, for instance, the share of Americans with over $10 million has grown by 5.2% (as of 2025). Nearly 40% of the world's "super-rich" now reside in the U.S., a figure that's almost double that of China's ultra-rich residents.
As more people build wealth and become rich, the number of individuals who desire unparalleled convenience, safety, security, and privacy when traveling also increases. Since private jets provide these perks, their use is likely to see continued growth, too.
Prioritization of Health and Safety During Travel
Even after the COVID-19 pandemic, some travelers continued to have health concerns about commercial air travel. Airports and commercial planes can, after all, facilitate the transmission of pathogens (disease-causing microorganisms) due to:
- Close person-to-person contact in confined spaces
- High passenger volumes
- Rapid local and international movement
While flying on a private jet doesn't eliminate all the health and safety risks associated with air travel, it can help minimize the likelihood, as it reduces the frequency and need to be in close contact with other people. There'd be no other passengers on the aircraft aside from you and your group, for instance.
Frequently Asked Questions
Do Private Jet Owners Still Go Through Security?
Yes. Private jet owners and their groups still go through security. However, the process significantly differs from that which commercial flight passengers undergo.
With private jets, owners and other passengers go through the security process at fixed-based operators (FBOs). ID checks, background checks, and bag screening are typical procedures, but they usually take much less time and have shorter queues than standard TSA/airport checkpoints.
Are There Other Cheap Ways to Fly Private?
Yes. In addition to fractional jet ownership, there are several other ways to fly private "cheaply," including empty leg flights and jet card memberships.
Empty leg flights are flights in which an aircraft, such as a private jet, repositions (moves from one location to another without passengers). One example is after dropping off passengers at one airport or FBO, and from there, it heads to its next destination.
If the aircraft doesn't have any passengers on its "second" leg, then it's an empty leg flight. The private jet company can offer this to passengers at significant discounts, which it will likely do to offset some of its costs (e.g., fuel and maintenance).
A jet card membership, on the other hand, is a prepaid program in which you purchase a set number of flight hours for a year (for instance, 25 hours or 50 hours). Because you're paying for the flight hours in advance, you'll generally pay much less than if you chartered a jet for a one-time service.
Consider Private Jet Ownership
Private jet ownership is on the rise, thanks to ownership being more affordable. There's also the fact that the number of wealthy individuals and those who prioritize their health and safety while traveling is increasing.
If you're one of those folks and you can afford to enjoy luxury air travel, consider fractional jet ownership as one of your options.
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