Inventory of preowned business jets is now 4.8 percent of the in-service fleet, according to the latest monthly report by Jefferies Equity Research, but remains 67 percent below the August 2009 peak.
Last month, there were 1,116 jets for sale versus 922 in April 2023. For young aircraft—those less than seven years old—there was a 27 percent increase year-over-year (YOY), to 3.7 percent of the active fleet.
Midsize jets on the market were up 31 percent YOY, followed by light jets (+28 percent) and heavy/large-cabin jets (+16 percent). Among the major OEMs, all had rising inventory—with the exception of Embraer, which saw its available aircraft decline by 19 percent, to 29 jets.
The report also noted that average used jet pricing declined by 2 percent YOY but rose by 1 percent month-over-month. U.S. business jet activity was down 5 percent YOY in January—the most recent month reported by the FAA—but remains 6.6 percent above 2019 levels.
In Europe, business jet flying was slightly more active, with traffic up 3.9 percent YOY in February 2024—the most recent reported month—and up 8.1 percent from 2019 levels. “We tend to believe this environment bodes well for business jets,” the report stated, “as there continues to be a perception of risk surrounding commercial air travel, which has been supportive of the quick recovery for business jet traffic.”
For the year, Jefferies forecasts new-production business jet delivery growth of 19 percent, spurred by service entry of Gulfstream’s new flagship G700 and the ramp-up of Falcon 6X manufacturing at Dassault.