News — 10.07.23

Jetcraft’s latest research reveals that corporate buyers are driving unprecedented business.

Global leader in business aircraft sales and acquisitions, Jetcraft, has produced ‘Ever Forward’, its 2023 Pre-Owned Business Jet Market Forecast. Jetcraft’s 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 and also the return of the corporate buyer playing a key role in driving business.

In 2022, the total worth of transactions reached an unprecedented $16.3 billion, fuelled partly by the revival of corporate aviation after experiencing a decline during the pandemic. According to Jetcraft’s data, the corporate sector accounted for 60% of Jetcraft buyers in 2022, highlighting the significant importance corporations attach to owning private jets.


“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 predicts that existing corporate and individual owners looking to upgrade their aircraft will drive sales volume. The market will continue to rely on new participants for its growth. Many individuals, after testing the waters through charter and fractional ownership, which has become more accessible with the rise in wealth, will eventually transition to full ownership. As anticipated, following the heightened trading levels of 2021, where there was a significant surge in demand for light jets to cater to domestic travel, the total transaction volume witnessed an 18% decline in 2022. However, during the remaining period of 2023 and throughout the projected timeframe, the number of pre-owned transactions is expected to increase once again, surpassing previous peak levels by 2027 with an average yearly growth rate of 4.7%

Ever Forward: Jetcraft’s 2023 Pre-Owned Business Jet Market Forecast reveals that continued growth is predicted for the years ahead.

Average transaction value increased by an unprecedented 38% in 2022. In 2023, Jetcraft is seeing normal depreciation levels resume and it predicts that, from 2024, transaction values will reach a new annual benchmark of more than $15.4B



Business aviation is back! Based on Jetcraft’s analysis of buyer data and behaviour, it is evident that corporate buyers have made a strong comeback and display no indication of slowing down. While conferencing technology played a vital role when borders were closed, businesses now recognise the importance of face-to-face meetings. After resuming their purchasing activities in 2021, Jetcraft anticipates corporate buyers to take the lead in the aircraft investment market during this period of inflation.

It is evident that corporate buyers have made a strong comeback.


Also, Jetcraft buyers in EMEA now use their aircraft more than those in APAC and even the Americas, despite North America being the most mature market. Finally, younger owners have used their aircraft the most, flying 19% more on average than those aged over 50. As highlighted in Jetcraft’s last forecast, many of its younger buyers are tech entrepreneurs flying globally to carry out business, which increases their overall usage.

“This is all positive news for our industry but as innovators and market leaders, it’s not in our nature to rest. At Jetcraft, our focus remains on market intelligence and technology. The reason we’re the best in the world comes down to two simple things: understanding the market and knowing how to interpret the data gained from every transaction. No one else in this industry can match our insight,” concludes Fazal-Karim.