Business aircraft are spending less time for sale than ever before, according to the latest edition of the Pre-Owned Business Jet Market Forecast by Jetcraft.

The report shows that in 2022-2023, aircraft spent an average of 129 days on the market compared to 233 days in 2018-2019, driven by unprecedented post-pandemic demand. Furthermore, the data affirms that the industry is in a much-needed market correction period, with a dip in both volume and value in 2023. However, ongoing transaction volumes are similar to 2019 levels, while values remain higher than the pre-pandemic peak, with an expected 59% increase in total transaction value between 2019 and 2028.

Chad Anderson, Chief Executive Officer, Jetcraft says: “For the first time, we’re including an analysis of market dynamics in the Pre-Owned Business Jet Market Forecast. As our data shows, since 2022 the number of days an aircraft spends on the market has decreased by almost half – due to borders opening and international travel resuming, along with buyers making faster, more emotional purchase decisions due to increased demand. We expect transaction rates will settle at this new level, even with more inventory available, culminating in a total forecast revenue of $15.6B annually by 2028.”

Among the report’s key findings is a continued rise in younger buyers, with 28% of Jetcraft buyers now aged under 45 years old (a 14% increase since 2019), averaging $13M per transaction. The Middle East and Africa boast the greatest proportion of younger buyers, due to the growth of UHNWIs in these regions.

Jahid Fazal-Karim, Owner and Chairman of the Board, Jetcraft, adds: “Our data has gone from strength to strength since the Market Forecast’s inception in 2015. We were the first to report the rise in buyers under 45 as a contributing factor to the growth of our industry and this demographic continues to be influential. Their market share has almost doubled since 2015, caused by a shift in generational wealth and the continued rise of billionaires in the tech space.

“As Jetcraft evolves, so too does our expertise in analyzing and interpreting the data, allowing us to make increasingly accurate predictions for the years ahead and provide deep analysis of the trends driving our dynamic industry.”

For full graphs and additional insight, download the Pre-Owned Business Jet Market Forecast here.

Niki Rokni, Partner and Head of Aircraft Sales at AXON, says: “Jetcraft is the global leader in business jet transactions and is a natural fit to take on our respected clients. The AXON team will remain the same, now with additional focus on our commercial aircraft sales and leasing services.”

The handover follows many years of successful collaboration between AXON and Jetcraft in navigating complex transactions around the world. AXON, who specialize in exclusive, off-market listings, will continue to work hand in hand with each customer to provide a seamless transition.

Jahid Fazal-Karim, Owner and Chairman of the Board at Jetcraft says: “I want to thank Niki and all at AXON for placing their trust in us. Jetcraft is a global force in the industry, offering the best-in-class service for aircraft sales, acquisitions and trades. By taking on AXON’s elite customer base and quality aircraft we continue our growth trajectory, providing the expertise nobody else can match.”

Pictured: Niki Rokni, Partner and Head of Aircraft Sales at AXON with Jahid Fazal-Karin, Owner and Chairman of the Board at Jetcraft

Provided by Pan-African banking firm Absa Group Limited, the new credit facility will ensure Jetcraft Commercial builds upon its strong track record in facilitating multi-layered, complex transactions with airlines worldwide.

Marc Meloche, Managing Director, Aviation Finance, Jetcraft Commercial, says: “The trust placed in the capabilities of Jetcraft Commercial by our customers has seen our deal volume increase by more than 70% in the past year.

“Establishing new lines of credit gives us additional opportunities to support our customers in their aircraft purchases and build on our recent successes. Absa’s commitment proves Jetcraft Commercial’s standing as a business, giving airlines total confidence in our ability to deliver and meet their needs.”

Morne Visagie, Senior Investment Banker at Absa Corporate and Investment Banking, says: “Jetcraft Commercial has an excellent track record of closing deals between multiple parties and we’re proud to support the business in reaching its next phase of growth, ensuring it has the financing solutions to seize opportunities quickly and expand into new and developing markets.”

Presented during AsBAA’s Icons of Aviation 2023 gala dinner on Saturday 11th November, Jetcraft Asia’s president David Dixon accepted the award on behalf of everyone in the company, which Jetcraft first won in 2015.

Commenting on the award afterwards David Dixon stressed that: “The whole team is so pleased the Icons of Aviation awards are back. It’s always a fantastic evening and a pleasure to connect with our friends in business aviation, especially in Asia. Any win is an enormous achievement and to be named Best Aircraft Broker for the sixth time is incredibly humbling, especially since this award is voted for by our peers.

“We have an outstanding team here at Jetcraft Asia and with the region continuing to bounce back we are committed to setting standards that shape the industry, delivering aircraft sales, acquisitions, and trading at the Speed of Life. Thank you all.”

Asad Rahman, Jetquity’s CEO, expressed his enthusiasm about the collaboration, stating, “The Protect Program is about instilling confidence and clarity in aircraft ownership. By letting owners know their exit price, we’re revolutionizing the buying and selling process in the aviation world. As part of our objective to align with the most esteemed names in business aviation, we’re thrilled to partner with Jetcraft as the first aviation specialist to bring the Protect Program to its clientele.”

Jahid Fazal-Karim, Owner and Chairman of the Board, Jetcraft, adds: “Today’s pre-owned jet marketplace is extremely complex, and at Jetcraft, we’re committed to harnessing innovative technology to benefit our clients. Through Jetquity’s Protect Program, we’re offering our customers the peace of mind that comes with knowing their aircraft’s future resale value, and when they are ready to sell their investment, access to Jetcraft’s market-leading intelligence and strategic financing solutions to support even the most complex of transactions.”

Launched in spring 2023, Jetquity’s Residual Value Protect Program is designed to safeguard a client’s business jet investment against market volatility. Owners are able to select the duration of the program (from one to 10 years), and offered an end of term minimum exit price for their aircraft as part of a single premium. The integration of the Protect Program into service offerings, sets new standards in the aviation landscape, promising a streamlined, transparent, and enhanced buying and selling experience for business aircraft owners worldwide.

Chad Anderson, CEO at Jetcraft, says: “With Jetcraft, Bill is taking his global perspective to the next level. He is a recognizable force in this industry and now he has access to a leading transaction team located all over the world that’s backed by proprietary data analytics. Our partnership with AeroVentures will allow him to better serve the demands of his clients, and his strategic aircraft investments.

“For Jetcraft, AeroVentures gives us access to Bill’s extensive network supported by strong credit lines, creating even more opportunities for our customers to continue transacting at the Speed of Life. We’re looking forward to a fruitful relationship.”

AeroVentures is an investment firm uniquely focused on innovating and evolving the world of global aviation through direct equity and credit investments to leading businesses providing technology, service, and infrastructure solutions to the business aviation industry. AeroVentures’ unmatched expertise and unique vision provides investment partners from across the world with opportunities to foster strong long-term growth. The distinguished experience of their portfolio management team and CEO Bill Papariella in the global aviation industry distinctly positions AeroVentures as a powerful new investing partner in the private aviation category.

Bill Papariella, CEO of AeroVentures says: “As a premier private aviation brokerage with unmatched international reach, data-driven market analysis, and advisors that possess extensive knowledge in the global private aviation ecosystem, we are pleased to partner with Jetcraft. As the private aviation industry continues to experience shifting demand, AeroVentures looks forward to helping Jetcraft further succeed by accessing our capital on a global scale for aircraft transactions across the world.”

After more than a decade trading aircraft at Aerolineas Ejecutivas (Ale), Noriega will now act as a sales specialist for Jetcraft customers in Mexico, Central America and the Caribbean.

Dan Kilkeary, SVP Sales, Americas, says: “Business aviation continues to soar in Latin America and Alejandro’s appointment builds upon Jetcraft’s recent hire in Brazil, with our thriving team supporting growth in the region.”

“As a seasoned professional, Alejandro has been responsible for global transactions across all aircraft segments during his nearly 15 years at Ale. His regional insight ensures we can negotiate the best deals for our customers and locate aircraft that others can’t.”

Alejandro Noriega, Sales Director, Jetcraft, adds: “This is an exciting time to join Jetcraft as the company further enhances its footprint across the Americas. I’m eager to bring the company’s financial strength, industry-leading data and the attitude that no transaction is impossible, to customers in this region.”

“We are proud to work with Jetcraft Commercial on a global leasing solution and welcome them to the DHC community as a launch customer for our newest aircraft, the DHC-6 Twin Otter Classic 300-G,” said Brian Chafe, Chief Executive Officer, De Havilland Canada. “With the same rugged airframe, the lighter weight DHC-6 Twin Otter Classic 300-G will deliver increased payload range and decreased operating costs for our customers. De Havilland Canada is once again driving the utility transport aircraft market forward.”

“We believe that the DHC-6 Twin Otter Classic 300-G represents the best in-class commuter aircraft solution,” said Raphael Haddad, President of Jetcraft Commercial. “This versatility enables the aircraft to operate into areas where regional aircraft cannot go and provide air connectivity there.

“Our boots-on-the-ground structure enables us to take on numerous aircraft with confidence because we know where demand lives, and where best to place them,” said Haddad. “We are thrilled to be working alongside De Havilland Canada as it brings this new, innovative product to market.”

DHC-6 Twin Otter Classic 300-G is the fifth generation of the Twin Otter aircraft, joining the current Series 400. All DHC-6 Twin Otters carry passengers, transport VIPs, move cargo, conduct medivac operations, and perform special missions in the world’s most unforgiving environments. When mounted on amphibious floats, these aircraft move seamlessly between paved surfaces and water-landing areas.

For more details about the DHC-6 Twin Otter Classic 300-G, including images, video, and brochure, please visit: https://dehavilland.events/TwinOtterClassic300G

The return of the corporate buyer has played a key role in driving unprecedented business aviation demand, according to new research from Jetcraft, the global leader in business aircraft sales and acquisitions. 

Ever Forward, Jetcraft’s 2023 Pre-Owned Business Jet Market Forecast reveals that continued growth is predicted for the years ahead, despite an inevitable market correction in 2023, setting new annual benchmarks for volume and value. In 2022, transaction values hit a record $16.3B, driven in part by the resurgence of corporate aviation, following a dip during the pandemic. 

Jetcraft’s data shows that the share of Jetcraft buyers coming from the corporate sector reached 60% in 2022, demonstrating the value corporations place on jet ownership.

“The return of the corporate buyer proves what we’ve always known: the continued importance of face-to-face interactions in the relationship world of business,” says Jahid Fazal-Karim, Owner and Chairman of the Board, Jetcraft. “Video conferencing technology served a purpose for all of us when the borders were closed, but businesses recognize the value of in-person meetings.” 

New entrants to the market, OEM backlogs and the corporate buyer’s return resulted in the average pre-owned transaction value going beyond industry expectations – increasing by 38% in 2022.  

“Existing corporate and individual clients looking to upgrade their aircraft will drive sales volume over the next five years,” continues Fazal-Karim. “First-time business jet owners continue to play a role in market growth, with many, having tested the waters through charter or fractional ownership, purchasing their own aircraft outright. From 2024, values will stabilize at above $15.4B annually, due to an increase in the total transaction volume, retirement of a significant portion of Light Jets from the under 25-year-old pre-owned fleet, and a higher share of larger jets entering the market.”  

Jetcraft’s 2023 report also breaks down the nuances found in pre-owned transaction values, explaining why average prices increased more than expected during 2022.  

Chad Anderson, CEO, Jetcraft adds “Today’s pre-owned jet marketplace is extremely complex, with aircraft segment prices differing widely and overlapping significantly. This price and segment variation stems from greater demand of popular makes and models, as well as turnkey aircraft, which have always attracted a premium but are especially lucrative at present due to the length of the OEM and maintenance facility backlogs. We expect prices to level out as supply increases and depreciation normalizes in 2024.”  

Download Ever Forward, Jetcraft’s 2023 Pre-Owned Business Jet Market Forecast here.