Business Wire

Business Aviation Flying High as Corporate Buyer Roars Back to Life, Jetcraft Forecast Finds

Share

The return of the corporate buyer has played a key role in driving unprecedented business aviation demand, according to new research from Jetcraft, the global leader in business aircraft sales and acquisitions.

Ever Forward, Jetcraft’s 2023 Pre-Owned Business Jet Market Forecast reveals that continued growth is predicted for the years ahead, despite an inevitable market correction in 2023, setting new annual benchmarks for volume and value. In 2022, transaction values hit a record $16.3B, driven in part by the resurgence of corporate aviation, following a dip during the pandemic.

Jetcraft’s data shows the share of Jetcraft 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 recognise the value of in-person meetings.”

New entrants to the market, OEM backlogs and the corporate buyer’s return resulted in total annual pre-owned transaction values beyond industry expectations – increasing by 38% in 2022.

“Existing corporate and individual clients looking to upgrade their aircraft will drive sales volume over the next five years,” continues Fazal-Karim. “First-time business jet owners continue to play a role in market growth, with many, having tested the waters through charter or fractional ownership, purchasing their own aircraft outright. From 2024, values will stabilise at above $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.”

Jetcraft’s 2023 report also breaks down the nuances found in pre-owned transaction values, explaining why average prices increased more than expected during 2022.

Chad Anderson, CEO, Jetcraft adds “Today’s pre-owned jet marketplace is extremely complex, with aircraft segment prices differing widely and overlapping significantly. This price and segment variation stems from greater demand of popular makes and models, as well as turnkey aircraft, which have always attracted a premium but are especially lucrative at present due to the length of the OEM and maintenance facility backlogs. We expect prices to level out as supply increases and depreciation normalizes in 2024.”

Download Ever Forward, Jetcraft’s 2023 Pre-Owned Business Jet Market Forecast here.

ENDS

About Jetcraft

More than brokers, Jetcraft® is a network of global aircraft advisors, offering unmatched international reach and unrivalled local knowledge. The company’s market-leading intelligence, strategic financing solutions, and extensive inventory support even the most intricate of transactions. For over 60 years, Jetcraft has led the way, setting standards that continue to shape the industry. Today, a team of 80+ dedicated aviation specialists across 25+ offices deliver worldwide aircraft sales, acquisitions, and trading at the Speed of Life.

Learn more at: www.jetcraft.com

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

8020 Communications.
Email: jetcraft@8020comms.com
Telephone: +44 (0)1483 447380

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

VeriSilicon Obtained Bluetooth 5.3 Certification for Its Complete Bluetooth Low Energy Solution6.6.2023 02:30:00 CEST | Press release

VeriSilicon (688521.SH) today announced its complete Bluetooth Low Energy (BLE) solution has passed the Bluetooth 5.3 certification issued by Bluetooth SIG. This complete BLE solution integrates VeriSilicon’s self-developed radio frequency (RF) IP, baseband IP, and software protocol stack, offering a one-stop solution compliant with the Bluetooth Core Specification Version 5.3. It caters to multiple IoT sectors, including industry, automobile, smart home, smart city, and healthcare, empowering customers to significantly reduce design time, mitigate risks, lower costs, and accelerate time-to-market of their products. Bluetooth Core Specification Version 5.3 brings enhancements to the BLE specification, including low-rate connection, periodic advertising, and channel classification, thereby enhancing the wireless coexistence and security of Bluetooth-enabled products. VeriSilicon’s complete BLE solution is based on 22nm FD-SOI process node, and its receiver sensitivity of RF transceiver

IPS Appoints Jim Stephanou as New CEO5.6.2023 20:30:00 CEST | Press release

IPS, a leading provider of architecture, engineering, procurement, construction management, and validation services for the life sciences sector, announces the appointment of Jim Stephanou, as its new Chief Executive Officer (CEO) to lead the company into its next phase of growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230605005759/en/ IPS is excited to announce the appointment of Jim Stephanou as its new Chief Executive Officer (CEO) to lead the company into its next phase of growth. (Photo: Business Wire) Mr. Stephanou is a well-recognized and accomplished leader in the Pharmaceutical Industry with over thirty years of experience in manufacturing operations and engineering. His most recent role was Vice President, Global Engineering Solutions at Merck & Co., Inc., a position he held for eight years. During that time, he was responsible for managing and overseeing one of the largest capital investment cycles of any

Translated Unleashes Full GPT-4 Potential for Businesses Operating in Languages Other Than English5.6.2023 17:06:00 CEST | Press release

In a significant breakthrough for generative AI and content creation, Translated, a leader in AI-enabled language solutions, is proud to introduce its innovative language model T-LM (Translated Language Model). T-LM will help unlock the full potential of OpenAI’s GPT-4 for businesses around the world. It provides companies with a cost-effective solution to create and restructure content in 200 languages, bridging the performance gap between GPT-4 in English and non-English languages. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230525005702/en/ (Graphic: Business Wire) Until now, GPT's impressive performance has been a privilege of the English-speaking world. Companies operating in languages other than English have often found their performance lagging behind that of GPT models from several years ago, with some languages trailing by as much as three years. For these companies, the performance gap in understanding, generati

Wipro VisionEDGE to Power Bowling Center TV’s New Digital Out-of-Home Network5.6.2023 14:58:00 CEST | Press release

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, today announced its dynamic digital signage solution, Wipro VisionEDGE, will power Bowling Center TV (BCTV), a new digital out-of-home television network distributed across bowling centers in the United States. BCTV is a partnership between Strike Ten Entertainment, the Bowling Proprietors’ Association of America (BPAA), and Equity Sports Partners. BCTV is supported by a best-in-class team of technology partners, including Cisco and Wipro VisionEDGE, and is designed to transform bowling center entertainment, revolutionize the way audiences engage with this popular sport, and how brands engage with those audiences. “Wipro VisionEDGE and BCTV represent a significant breakthrough in the digital signage and out-of-home industry, enabling targeted customer engagement,” said Malay Joshi, Senior Vice President and Sector Head of Communications, Retail, Connectivity & Services, Wipro Limit

Adva Network Security and Quantum Optics Jena showcase German-made QKD solution5.6.2023 14:00:00 CEST | Press release

Adva Network Security and Quantum Optics Jena today announced a successful joint demo of entanglement-based quantum key distribution (QKD) technology. The field trial leveraged quantum key generation and verification technology from Quantum Optics Jena in combination with Adva Network Security’s Layer 1 encryption solution to establish a secure optical communication channel between data centers owned and operated by the Thüringer Landesrechenzentrum (TLRZ), the IT service provider for the state’s administration in Thuringia. The test represents a milestone in the development of entanglement-based commercial QKD systems, as it is the world’s first complete integration into an IT infrastructure. By delivering quantum-secured keys to the encryptor of the high-bitrate optical channel, the team was able to show how data traffic could resist quantum attacks on the link between the data centers. The demo represents a significant leap forward for quantum-safe communications made in Germany and