Luxury Jet Fever Is Reaching Its Peak
The luxury-jet market is shifting towards the seller right now. If you were in the market for a luxury-jet a couple of years ago, you would have a multitude of amazing options and opportunities. Now, the options are pretty slim, though it’s still possible to find a great jet for fair price. However, after you find the desired jet, you have to be quick because there are hundreds of other potential customers who are also looking to buy the jet of your dreams.
Looking through the listings just one year ago, you could find over 40 pre-owned Falcon7X jets. Now, there are less than a dozen. You might even have to order a delivery of the luxury jet from other countries such as China, Japan or India. This is a huge difference, because last year, you could have found several high quality, available Falcon’s in the US.
This is all because, as we mentioned earlier, the market is finally leaning toward the seller. All major jet manufacturers are working hard and developing new models to be released in 2019 and 2020.
According to experts, the economy couldn’t be better for plane manufacturers. People are flying more than ever, corporate investments are growing every month, and the economy is only getting stronger. New aircraft manufacturing is said to rise 8% next year after being down since 2014.
Though it’s usually the largest in the world, the US market is growing even more. The US used to earn 60% of all private jet orders in the past. Now over 70% of new jet orders have been placed from the US. Experts think that the reduction of the corporate taxes from 35% to 21% is one of the key reasons that there are so many new luxury jet owners in America.
Here are just a few things that big jet manufacturers are up to these days:
- Bombardier is getting ready for certification from the US and Europe to start deliveries of its brand new Global 7500, the largest purpose-built corporate jet at this time.
- Gulfstream just delivered its G500, a smaller version of G650. A brand new model – G600, is getting ready to be launched in 2019.
- Cessna’s Longitude is waiting to be certified and launched into the market. It’s even bigger than Cessna’s Latitude aircraft.
- Embraer is working on their new aircraft called Praetor – a new version of Legacy that has increased flying range and improved cockpit control.
As you can see, a variety of new aircraft are about to hit the market in 2019.
For now, it’s getting harder and harder to find a good aircraft with high-quality interiors and advanced avionics. “Inventory is getting picked over,’’ says the president of Corporate Aviation Asset Professionals, Barry Justice. On the other hand, all the buyers that trade-in their older jets might help restore the market of pre-owned planes and make it easier for new players to enter the market.
Experts say that the risk is still out there. US economy hasn’t been down since 2009, when the aircraft market suffered a huge crash, much like many other markets. It looks like the economy will remain stable for the next couple of years, so the aircraft market has room to grow. And at Miami Jets, we can help you get the best price when selling your jet. If you’re in the market, our team can also help you get the best deal on the perfect aircraft!
Miami Jet is highly educated on the private jet market. Our professional sales team knows how challenging it is to find affordable, high quality jets but it is our goal to find you the aircraft of your dreams, no matter the financial climate. Our team of experts will do its best to deliver a jet of your dreams. Contact us online and let us show you just how unmatched our inventory is.