After the recent launch of its tech driven experiential private jet platform, Hype Luxury (www.hype.luxury), a global mobility platform headquartered in Bengaluru and renowned for its luxury car fleets, has experienced an unprecedented surge in demand, registering a staggering 500% increase. Hype Luxury has successfully secured over 100 private jets in its India fleet alone. Hype Luxury also boasts of an impressive fleet size of over 21,000 private jets and helicopters globally, catering to the needs of elite clientele around the world.
This surge comes in the wake of the post-pandemic era, where there has been a notable rise in demand for private jets worldwide. It’s the first ever mobility platform that was founded by siblings, Raaghav Belavadi and Vijaya Belavadi. With an average valuation of a private jet ranging from $25 million to $90 million, the current collective asset worth of all private jets housed in Hype’s Hangar amounts to approximately $630 billion. This establishes Hype Luxury as the foremost luxury fleet provider globally with presence in 23 cities in India and operates in seven other countries.
Projections indicate that the private jet charter services market is poised for substantial growth, anticipating a Compound Annual Growth Rate (CAGR) of 10.3% over the next five years. Additionally, the Asia-Pacific charter jet service market is expected to exhibit a robust CAGR of 13.77% from 2024 to 2029, with a projected value of USD 345.14 million by 2029.
As a global brand synonymous with opulence and refinement and serving a clientele of prominent figures from India and Western nations, Hype Luxury is uniquely positioned to cater to the discerning needs of ultra-luxury customers. With a focus on providing seamless, point-to-point service, it is dedicated to ensuring that each customer’s journey is effortless and unforgettable.
Among its impressive fleet, Hype Luxury proudly features some of the most exclusive and high-end aircraft, including the coveted Gulfstream G700, valued at approximately $80 million. These luxurious jets are equipped to deliver unparalleled comfort, sophistication, and convenience, making them ideal for long-haul, non-stop flights and extraordinary travel experiences.
Raaghav Belavadi, Founder & CEO of Hype Luxury, emphasized, “The escalating demand for air charter services is attributed to the expanding landscape of e-commerce retail and express delivery services. With the demand for private jets in India still being in its growth phase, it presented a natural extension of its business model, built on a foundation of delivering exceptional luxury experiences. We comprehend the requirements of ultra-luxury clients, whether in their professional endeavours or celebratory occasions, and our services are impeccably tailored to offer seamless point-to-point experiences.
“The current collective asset worth of all private jets housed in Hype’s Hangar amounts to approximately $630 billion. Our expertise in luxury services, our global reach, commitment to quality, and ability to deliver tailored experiences make it a standout choice for individuals or businesses looking to charter private jets with a focus on opulence and sophistication,” he added.
In the aftermath of the pandemic, Hype Luxury has implemented various branding and marketing initiatives, attracting over a million potential customers worldwide. This surge in interest has solidified Hype Luxury’s position as a leading provider of luxury transportation services, underscored by its unwavering commitment to quality and customer satisfaction.
