An expected 8,000 new private jets are projected to be ordered by multinational companies over the next ten years, each private jet will burn 40 times more carbon per person as regular commercial flights, according to by aviation firm Honeywell Aerospace most recent report.

Around 690 brand new private jets are expected to take to the skies in 2019, a 9% increase on last year, as businesses and the wealthy refresh their fleets with new models released by three of the world’s biggest private jet manufacturers.

Over the next decade, the number of new private jets taking to the skies is expected to total 7,600 – costing buyers a combined £193bn.

One-fifth of the new jets are expected to be ordered by celebrities and other members of the richest 1% of the population.

The new jets are also projected to be bought by big companies to ferry executives across the world.

Foley says the global super-rich account for between 15 and 25% of the world’s private jet market.

It is expected out of the new orders, two-thirds of the private jets are expected to be delivered to customers in the US and China, while Europe will account for about 20%.