Private jets are revered in our culture and seen as the height of luxury. They’re a sign that you’ve truly made it, and for good reason. The most affordable private jets cost around two million dollars.
With the costs of private jets being so high, it raises the question of how many of them there can really be in the world. The answer turns out to be quite a few, and that number is growing year after year.
That’s just one of many things to know about private jets, and we’ll talk about some of them in the paragraphs below.
Number Of Private Jets
How many private jets are there in the world, exactly? Data from 2019 states that there were just under 22,000 private jets operating at that time. That’s if you only count personal private jets.
If you add business jets, the number adds another 21,000 for the US alone. Many of the business jets in the world are privately owned and used for business purposes. This number will also increase as the market fills with more buyers and more private jets for sale.
84 percent of those jets are owned by North Americans or Europeans.
Growth Rate
We’ve mentioned that the number of private jets in the world is steadily growing, but how much is it growing? Each year, several hundred new private jets are ordered. Now, the number stands at over 700 per year, and 7,000 every nine years.
Part of this may have to do with the rise in the number of millionaires. During COVID 19, over five million Americans became millionaires. There could be any number of reasons for this, but part of it was due to the stimulus checks and economic benefits the government passed in an effort to keep the country functioning.
History Of Private Jets
The title of this point may sound intimidating, but it’s not. A guide to the history of private jets would be somewhat short, because the industry has only existed for a few decades.
While there have been owners of private planes before, most of them were far more expensive and only the richest of the rich could afford them. These included people like Henry Ford, who owned an automotive empire.
There were other people who owned planes at the time, but many of the earliest plane owners were aviators who built their own. The reason private jets have become popular in recent decades is because advancements in technology have lowered private jet costs for manufacturers. As people continue to invest more in the industry it’s possible that jets will become more sustainable and fuel-efficient.
Private Jets: A Guide
There are many more private jets in the world than most would think, and that number seems to be growing. We’ve talked a bit about this and why it’s happening in the paragraphs above.
The future of the private jet industry is still difficult to determine. There are several factors at play, and each one could play a major role in the coming years.
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