Special Edition Includes Data through July 2021
The business aviation market demonstrated remarkable resilience in 2020 and continued to build on that strength in the first 7 months of 2021. Through July YTD, flight operations and pre-owned transactions were up, demonstrating continued demand for the capabilities that business jets provide. As the global economy grows, renewed business activity will continue to drive transactions in the business aviation market.
- Lifting travel restrictions and liquidity built up during the pandemic led to economic growth in Q2 2021.
- Driven by the entry of new users into the market, business jet flights grew through July 2021. While comparisons to 2020 can be misleading due to lockdowns during that time, flight activity increased nearly 1 percent when compared to 2019.
- Backlogs rose at major OEMs, driven by new users to the business jet market, low pre-owned inventory, and strong demand from fleet operators.
- Overall transaction activity continues to recover from 2020 levels, driven largely by the pre-owned market.
- Inventory levels continued to decline through July 2021 and remained at historically low levels.
- Limited supply and continued demand have given business jet sellers additional bargaining power, resulting in bluebook values firming up and even appreciating in some instances.