At Jetcraft, our client base tends to be evenly split between Ultra High Net Worth Individuals (UHNWIs) and buyers of corporate fleets.

Naturally, during the pandemic, the level of activity from corporate buyers significantly tailed off, with many businesses establishing policies advising against travel.

The good news for our industry is that, with the world once again open for business, corporate travel is increasing, and companies are looking to renew their fleets as they restart their travel planning.

These are market developments that reflect our own optimistic outlook in our recent 5-Year Pre-Owned Business Jet Market Forecast.

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Younger buyers are playing a significant and increasing role in the expansion of the private aviation industry, according to the new data from our latest market forecast.

Ever Forward, Jetcraft’s 5-Year Pre-Owned Business Jet Market Forecast reveals that the share of Jetcraft clients under 45 has risen by 20% in the last five years. Further, these buyers are driving a trend towards larger aircraft purchases, with their average transaction price hitting $25m, some 31% higher than their over 45 counterparts. Nearly a quarter (24%) of Jetcraft’s pre-owned jet buyers in Europe are younger than 45, with this figure rising to 38% in the Middle East and Africa.

Jahid Fazal-Karim, Owner and Chairman of the Board, Jetcraft, says: “We are now entering a post-pandemic business cycle from a new, higher starting point, with a predicted steady upward trajectory fuelled by more and younger first-time buyers entering the market, alongside strong demand for larger jets and a growing UHNWI ...

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Product Overview

The Challenger 850 is derived from the Bombardier CRJ-200 commercial airliner. The Challenger 850 has transcontinental range and a high-speed cruise. With the option of auxiliary fuel tanks, the Challenger 850 can have an increased range capacity.

As of July 2022, 77% of the Challenger 850 aircraft were purchased pre-owned, the other 23% new. 9.6% are for sale with the majority of those (86%) under an exclusive broker agreement. When for sale the average time on the market is 252 days.

Brief History

The Challenger 850, formerly the Challenger SE and then the Challenger 800, was first manufactured in 1996 as the Challenger SE (Special Edition) and rebranded in 2006 as the Challenger 850. Production of the Challenger 850 ended in 2017. A total of 74 Challenger SE/800/850 aircraft were produced with one since retired.

Worldwide Appeal

There are 73 Challenger 850 aircraft in operation today. The majority of those (72) are wholly owned with one in shared ownership. 13.7% are currently leased. Europe has the largest percentage of wholly owned Challenger 850 aircraft (41%), followed by North America (31%) and Asia (25%).

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Jetcraft is taking the next step in business aircraft sales, acquisitions and trades by establishing the first business aviation lounge in Decentraland, joining luxury brands including Louis Vuitton and Ferrari in the most prominent of the Metaverse platforms.

The Metaverse and Web3 are the new places to do business, with their growth expected to nearly double by 2024, according to Bloomberg Intelligence. Earlier in 2022, Decentraland held the first Metaverse Fashion Week, providing luxury retailers with pop-up stores, and users the opportunity to invest in NFT wearables and limited-edition pieces for their avatars.

Lauren Kinelski, Vice President Marketing, Jetcraft says: “Clients turn to Jetcraft for an unmatched international presence and local insight in every key region. Our sellers reach the widest global network of qualified aircraft buyers, and our buyers gain access to the largest aircraft inventory in the industry. We’re well covered in the physical world, with more...

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2022 marks a variety of significant milestones for Jetcraft, particularly for David Dixon, president of Jetcraft Asia.

This year sees David celebrate his 70th birthday, as well as his Golden Aviation Jubilee - 50 years in the industry. Throughout this career, David has continuously expressed his enthusiasm for aviation and selling aircraft to a vast range of customers.

Prior to specializing in business aviation at Jetcraft, David was involved in airliner and bush aircraft transactions. A self-proclaimed ‘aviation geek’, David has a passion for all aircraft types, particularly Spitfires, and will continue to work in the industry for as long as he can.

At Jetcraft, David’s career highlights include opening the Hong Kong office – the company’s first in the region, and growing Jetcraft’s market presence in Asia which paved the way for the more recent addition of a second office in Singapore.

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Product Overview

The Falcon 8X has extra range—due to an additional center-fuselage fuel tank and a lighter, redesigned wing compared to the Falcon 7X. The reworked wing also keeps the 8X competitive on short runways; it needs 5,880 feet to take off fully loaded but can stop in 2,245 feet.

The Pratt & Whitney Canada PW307D engines have been optimized offering an increase in thrust with lower emissions. The 8X has a cabin altitude of just 3,900 feet at a cruising altitude of 41,000 feet. The 8X has a service ceiling of 51,000 feet

As of June 2022, 12% of the Falcon 8X aircraft were purchased pre-owned by their current owners, the other 88% new, and there are no Falcon 8X for sale on the pre-owned market.

Brief History

Unveiled in May 2014, the latest addition to the growing Falcon business jet family entered into service in October 2016 after receiving both EASA and FAA certifications in June 2016.

Worldwide Appeal

There are currently 81 Falcon 8X aircraft in operation today. All of those (81) are wholly owned. 3.7% are currently leased. Europe has the largest percentage of wholly owned Falcon 8X aircraft (59%), followed by North America (16%) and Asia (13%).

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Jetcraft is releasing Ever Forward, its 5-Year Pre-Owned Business Aviation Market Forecast, identifying significant market opportunities and global trends.

View the detailed chart in our forecast

Chad Anderson, Chief Executive Officer, Jetcraft says: “This year’s report predicts that, after stabilizing in the wake of a post-COVID surge, pre-owned transactions should maintain their new higher base and growth rates, reaching 10,921 transactions valued at $66.6B over the forecast period.

2021 was a record year for business aviation, with an annual total pre-owned transaction value of $14.5bn, a near 40% increase on 2020, principally driven by Large and Midsize jet purchases. Despite an equally strong performance in early 2022, Jetcraft predicts the market will soften with normal depreciation levels resuming in 2023.

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The only way to accurately assess the value of pre-owned aircraft is by having access to comprehensive data. Price fluctuations – whether the depths of the market when Covid hit, or the height of the 2008-2009 peak – make it difficult to judge value when compared to a single data point, so it’s necessary to have a long-term view.

The good news for prospective buyers is that when we take a more sophisticated approach and assess lasting trends, there is plenty of value to be found. For example, a five-year-old Gulfstream G550, which, while trading at a higher price than it was during the market lows of the pandemic, is still available at around 50-60% of its new price on the pre-owned market, which represents a healthy depreciation curve for buyers.

We’re now entering a period of market stability, so both buyers and sellers should be getting fair deals, with key barometers, such as fleet operator acquisitions, suggesting it’s unlikely there will be any significant drop in prices imminently.

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Product Overview

The Bombardier Learjet 75 is the newest derivative of the popular Learjet 45XR. Compared to the Learjet 45XR, the Learjet 75 has improved avionics, redesigned winglets yielding better fuel efficiency, and upgraded engines.

As of May 2022, 32% of Learjet 75 aircraft were purchased pre-owned by their current owners, the other 68% new. 1.5% are for sale with half of those (50%) under an exclusive broker agreement. When for sale the average time on the market is 98 days.

Brief History

Bombardier received FAA certification for the Learjet 75 on November 14, 2013 and it entered service shortly thereafter. The aircraft received the European Aviation Safety Agency (EASA) certification in September 2014 and the 100^th Learjet 75 was delivered in June 2017. A total of 137 Learjet 75 aircraft have been built with 135 in operation.

The new Learjet 75 Liberty model, a lower-cost version, is now in production with the first delivery in October 2020. The Liberty lower cost is achieved by replacing 2 seats in the forward cabin with two-fold down ottomans and fold-out tables, creating an “executive suite” and an aft 4-place club.

Worldwide Appeal

There are 137 Learjet 75 in operation today. The majority of those (125) are wholly owned, with 1 in shared and 9 in fractional ownership. 8.1% are currently leased. North America has the largest percentage of wholly owned Learjet 75 aircraft (83%), followed by Europe (10%) and South America (6%).

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