Business Jet Market Transitions to Sellers Market
The preowned business jet market has been transitioning into a seller’s market since December, with inventory now at just 9.9 percent, below the 10 percent threshold of inventory for sale and significantly down from 11 percent in 2016, according to recently released data by JetNet, a provider of business aviation research. Since 1988, JetNet has gathered comprehensive data on around 27,000 business aircrafts around the world. The data shows that inventory of preowned business jets has decreased steadily from a high point of 2,938 aircraft in July 2009, or 17.7 percent of the in-service fleet, to just 2,143 jets in December.
JetNet’s advice to those condidering the purchase of a business jet? Act now! “A period of transition is now in play, wherein the pendulum swings [from] in favor of the buyer to the seller,” Says Jet Net. “The pristine used jets that were on the market a few years ago have become more challenging to locate. The sage advice for buyers is to act now. The counsel of ‘just wait a few months—the price will come down’ may not present itself as we break into the seller’s market environment.”
According to the research firm, there were 2,668 more business jet transactions last year, an increase of rising by 177 sales over 2016. This increase in sales is largely due to large-cabin jet deals, which accounted for 37 percent, of the total transactions: up 17.3 percent from 2016. Sales of preowned light jets also grew last year, by about 8 percent. Meanwhile, preowned midsize jet sales fell 4.9 percent, from 630 total transactions in 2016 to just 599 in 2017.
“The recovery in business aviation during the post-recession period has been underwhelming,” states JetNet. “Now that 2018 is here, we hope the U.S. preowned market, along with improvements in the world economy, will continue to push more aircraft purchases.”
The numbers don’t lie. With demand like this, Now is the perfect time to purchase a pre-owned business jet and Miami Jet can help! We have an unmatched selection of only the sharpest private aircraft. There is no time to wait, because with this rise in preowned interest, our inventory wont last. Take a look at all of the well-kept pre-owned jets we have available and contact us to schedule a showing! Our full-time sales team is here to help you every step of the way.