Business aviation flying high as the corporate buyer roars back to life

New data from Ever Forward, Jetcraft’s 2023 Pre-Owned Business Jet Market Forecast, shows the corporate buyer has returned to business aviation, playing a key role in driving demand.

Predicting a total of 11,429 transactions representing $74.4B in revenue over the next five years, Ever Forward reveals that continued growth is expected for the years ahead, despite an inevitable market correction in 2023, setting new annual benchmarks for volume and value from 2024.

In 2022, transaction values hit a record $16.3B, in part due to the resurgence of corporate aviation, following a dip during the pandemic. Jetcraft’s data shows the share of its 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 importance of in-person meetings.” 

During the rest of 2023 and throughout the forecast period, the number of pre-owned transactions will grow steadily, exceeding previous highs by 2027.

“Existing corporate and individual clients looking to upgrade their aircraft will drive sales volume over the next five years,” continues Fazal-Karim. “From 2024, values will stabilize at over $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.”

To download Ever Forward, visit https://www.jetcraft.com/forecast/