Spread the love

Post Views: 77

In a remarkable shift within the business aviation sector, pre-owned business jets are now selling 45% faster than they did four years ago, according to the latest Pre-Owned Business Jet Market Forecast by Jetcraft, a global authority in aircraft sales, acquisitions, and trades. The report underscores a significant post-pandemic boom, revealing that from 2022 to 2023, the average time an aircraft spent on the market plummeted to 129 days, down from 233 days in the pre-pandemic period of 2018-2019.

The latest data from Jetcraft’s comprehensive forecast suggests that reopened borders drive this acceleration, resumed international travel, and a surge in buyer confidence, resulting in quicker, emotionally charged purchasing decisions. “For the first time, we’re including an analysis of market dynamics in our Pre-Owned Business Jet Market Forecast,” said Chad Anderson, CEO of Jetcraft. “Since 2022, the number of days an aircraft spends on the market has decreased by almost half. This is due to the resumption of international travel and heightened buyer demand, leading to faster transactions.”

Despite a dip in volume and value in 2023, the industry is experiencing what Jetcraft terms a much-needed market correction period. While transaction volumes align closely with 2019 levels, values remain higher than the pre-pandemic peak. The forecast anticipates a striking 59% increase in total transaction value from 2019 to 2028, with an expected annual revenue of $15.6 billion by 2028.

A notable trend highlighted in the report is the rising influence of younger buyers. Since 2019, the proportion of Jetcraft’s clients under 45 years old has grown by 14%, constituting 28% of their customer base. These younger buyers, averaging $13 million per transaction, are predominantly from the Middle East and Africa, regions witnessing significant growth in ultra-high-net-worth individuals (UHNWIs).

“Jetcraft’s data has become increasingly robust since we first launched the Market Forecast in 2015,” stated Jahid Fazal-Karim, Owner and Chairman of the Board of Jetcraft. “We were the first to report on the rise of younger buyers as a key growth driver for our industry. This demographic’s market share has nearly doubled since 2015, reflecting shifts in generational wealth and the ascent of tech billionaires.”

As Jetcraft continues to refine its expertise in data analysis and interpretation, it remains at the forefront of predicting market trends and providing valuable insights into the forces shaping the dynamic business aviation landscape. Readers can download the complete Pre-Owned Business Jet Market Forecast here to delve deeper into the forecast and access detailed graphs.