A market shift that accelerated through the end of last year has continued into 2023, with declining sales, increasing inventory, and softening prices. More on what these trends mean for buyers and sellers in a moment, but first some data points illustrating the change, and the forces driving it.
Preowned business jet and turboprop transactions in the fourth quarter—historically the year’s busiest time—dropped from 1,021 in record-setting 2021 to 636 in 2022, according to Amstat, a 37 percent decline. Back in the fourth quarter of 2020, as post-COVID demand jumped, sales hit 979 units, also bettering the last quarter of 2022’s volume by more than a third.
Meanwhile, the number of business jets for sale rose from about 700 at the end of March 2022 to nearly 2,000 at year-end, reports London-based business aviation consultancy Altea. The increase is “an indicator of a market shift,” says partner Jean Sémiramoth.