High-flying young buyers help drive private aviation boom

In this year’s Jetcraft 5-Year Pre-Owned Business Jet Market Forecast, Ever Forward, we find that younger buyers are playing a significant and increasing role in the expansion of private aviation.

Our forecast reveals the share of Jetcraft clients under 45 years old has risen by 20% in the last five years, with these buyers driving a trend towards larger aircraft purchases at an average transaction price of $25m, some 31% more than their more mature counterparts.  

In total, nearly a quarter (24%) of pre-owned jet buyers in Europe are now younger than 45, with this figure rising to 38% in the Middle East and Africa.  

Our study also identified potential growth areas internationally, with Asia-Pacific’s UHNWI population set to increase by 33% over the next five years, suggesting significant potential for pre-owned Large jet transactions.  

With the profile of a typical pre-owned jet buyer shifting, this younger buyer persona offers real lifetime value to our industry and the predicted growth of the UHNWI population underlines the potential for the future of the sector.

It’s against this backdrop that Ever Forward predicts a much more rational market over the next five years when compared with the previous industry boom during 2004-2008. After stabilizing in the wake of the post-pandemic surge, we are forecasting pre-owned transactions will maintain their new higher base and growth rates, reaching a total of 10,921 transactions valued at $66.6B over the next five years. 

These opportunities for growth exist even though 2021 was a record year for business aviation, with an annual pre-owned transaction value of $14.5bn, which is almost a 40% increase on 2020 and was principally driven by Large and Midsize jet purchases.

Finally, a note on this year’s Market Forecast theme, Ever Forward. This title very deliberately encapsulates our industry’s incredible resilience. In the face of global and economic hurdles, business aviation access, activity and the overall global fleet continue to grow year on year.   

Ever Forward also reflects Jetcraft’s commitment to playing its part in driving this growth and carrying out transactions at the speed of life

To download Ever Forward, Jetcraft’s 5-Year Pre-Owned Business Jet Market Forecast, visit jetcraft.com/forecast.