International Aircraft Dealers Association (IADA) members reported a balanced market for preowned business aircraft in the second quarter of 2024. Sales are steady and values of late model aircraft remain strong, according to IADA’s Second Quarter 2024 Market Report.
“For the next six months, two thirds of members surveyed predict that pricing and demand for large and ultra-long-range bizjets will decline while supply will increase, continuing a trend noted in our last quarterly report,” said IADA Executive Director Wayne Starling. “Most IADA survey respondents anticipate stable demand in the turboprop and light jet segments for the next six months, though opinions vary more for mid-size and larger jets,” he added.
Aircraft Transactions Up
Reported activity in the second quarter of 2024 included an impressive 366 closed deals, up 20 percent, compared to the second quarter of last year. It was the highest number of transactions recorded in a second quarter since the IADA survey was initiated in 2020.
Year-to-date in 2024, the 620 closed deals reported were up 14 percent in volume compared to the first half of 2023, an indicator of a healthy level of activity in a rebalancing marketplace.
However, several macroeconomic factors are contributing to some ongoing uncertainty.
These include geopolitical tensions, the divisive global election cycle, and persistent inflation / interest rate concerns. Most IADA members have been impacted by these headwinds, and still view the global preowned business jet market with guarded optimism.
Demand for preowned business jets has remained resilient yet tempered as more aircraft have come to market. IADA has also seen an increase in transaction times as buyers and sellers take more time to negotiate pre-purchase inspection findings. IADA members look forward to the second half of the year, as their cautiously optimistic outlook continues to define the landscape moving through 2024.
To download the report, go to AircraftExchange.com/Market-Report.