#USA #Market Trends #Utica #JETNET #Business Aircraft

Introduction

In a recently published report, JETNET, a premier provider of business aviation market intelligence, has shared an in-depth evaluation of the pre-owned aircraft market for 2024. This comprehensive review shines a light on significant growth in inventory levels, pricing variants, and robust sales activities, offering valuable insights to industry stakeholders.

Inventory Growth

The pre-owned business aircraft market has experienced remarkable supply-side expansion in 2024. Notably, the available inventory of business jets increased by 24%, reaching a peak of 2,016 units for sale in November, before settling at 1,851 units by year’s end. In the same vein, business turboprop inventories rose by 22%, peaking at 822 units, only to conclude the year with 779 units available. These developments underscore a year marked by considerable and consistent supply growth across the various segments of the market.

Pricing Trends

The report outlines varying pricing trends across diverse aircraft categories throughout the year:

• - Light Jets: The average asking price remained stable at approximately $3 million.
• - Large Jets: These jets saw a significant price boost of 11%, culminating in an average price of $14.6 million.
• - Mid-Size Jets: In contrast, mid-size jets experienced a decline of 13%, closing the year at $4.75 million.
• - Turboprops: These aircraft saw a modest decrease of 1.9%, averaging around $2.153 million.

These trends indicate a complex marketplace where price fluctuations reflect ongoing adjustments by buyers and sellers alike.

Sales Activity Dynamics

In terms of transactional activity, JETNET's findings indicate a slight contraction in sales volumes for pre-owned business aircraft during 2024:

• - A total of just over 2,300 jets changed hands, which denotes a 4.2% decrease year-over-year, equating to approximately 100 fewer units sold compared to the previous year.
• - Sales of turboprops totaled 1,168, reflecting a 6% decline.
• - Notably, the sales cycle for jets decreased significantly to 207 days, a marked improvement from the 265 days recorded in pre-pandemic 2019, while turboprop sales cycle times reduced to 190 days from 279 days during the same period.
• - A remarkable surge in Q4 sales accounted for 33% of overall annual business jet transactions, underscoring a seasonal uptick in market activity.

Market Evolution and Trends

The report also addresses how post-pandemic adjustments continue to influence market characteristics. Despite a substantial rise in the number of available aircraft, the proportion of the in-service fleet for sale remains at seller-favoring levels—around 7% for jets and 5% for turboprops. With decreasing sales cycles and rising inventory, Paul Cardarelli, JETNET's Vice President of Sales, highlighted that buyers are increasingly inclined towards investing in newer and well-maintained aircraft, particularly those with engine maintenance programs in place.

Conclusion

As market dynamics evolve rapidly, JETNET is committed to delivering top-tier fleet and market intelligence solutions that serve aviation professionals aspiring to navigate the business landscape of 2025 and beyond effectively. The full report, titled '2024 Pre-Owned Business Aircraft Market Performance Review,' details these findings comprehensively and is available for interested stakeholders.

For more information on JETNET and their extensive services, visit JETNET's Website, or contact their sales team directly.