Q4 2024 marked a period of stability for the business jet market following unprecedented utilization and demand in the aftermath of the COVID-19 pandemic. The market continued to demonstrate strength and resilience, evidenced by an increase in flight operations, continued strong backlogs, and a high volume of transactions. Inventory gradually increased throughout 2024, but declined in Q4 compared to Q3, and remained below pre-COVID norms. Additionally, the macroeconomic environment experienced steady growth and declining inflation levels, despite geopolitical uncertainty. Overall, the industry is poised for a strong start to 2025.
- Global economic growth continued through Q4, despite geopolitical uncertainty.
- Flight operations increased 2.4 percent year-over-year in Q4 and were 1.6 percent higher than Q3, reflecting an enduring expansion in the user base for business aviation.
- OEM backlogs increased 7.2 percent year-over-year in Q4.
- The number of transactions was stable through the end of 2024 as OEMs worked to resolve supply chain and labor constraints, and there was consistent activity in the pre-owned market.
- Aircraft availability increased in Q4 year-over-year but declined from the previous quarter as a result of strong transaction volume.
- Most aircraft models experienced depreciation in line with historical norms during Q4. However, younger aircraft experienced less depreciation than older aircraft.
