With a full year of new aircraft approvals, flight testing, and new technology introductions, 2025 was a success for the business aviation market. Let’s look back on some of the notable developments in the industry:

Business Jet Industry Strong in Face of Ever-Changing World

The early part of 2025 was marked by uncertainty following the announcement of new tariffs on several major U.S. trading partners. These measures contributed to a decline in equity markets, raised concerns among economists about slowing economic growth, and elicited predictions of potential impacts on business aviation by industry observers. Initial volatility, however, subsided as the White House announced pauses on reciprocal tariffs and broader economic indicators exceeded expectations. Subsequent trade agreements, particularly those covering aircraft and aviation components, provided additional support for the business jet market. As a result, demand for business aviation increased in 2025. Departures rose steadily throughout the year, reaching record levels in October, according to WINGX.

OEMs Gain Strength as Demand Continues

As demand for business jets has continued to grow, major manufacturers have strengthened their positions and expanded their service offerings. At the start of 2020, the overall industry backlog stood at $33 billion. By the end of 2024, backlog had grown 62.2 percent, reaching $53.6 billion. This growth continued in 2025, with backlog increasing 5.3 percent through the end of Q3 (the latest data available at the time of publication). Further highlighting manufacturer strength in 2025, Embraer completed its 2,000th delivery during the year. OEMs continue to view services as a key growth opportunity alongside increases in production. Dassault, for instance, opened a new MRO center in central Florida and a new factory in Cergy, France, while Bombardier announced plans to expand its service centers in the U.S. and boost production as part of a multi-year strategy.

New Aircraft Enter Service

Manufacturers were active in introducing new aircraft into service in 2025, with Bombardier and Gulfstream both receiving certifications and delivering new ultra-long-range aircraft. The first production Bombardier Global 8000 flew in May and received Transport Canada certification in November. The first aircraft was delivered to a customer in December. Gulfstream’s G800 earned FAA and EASA type certification in April, followed by an initial customer delivery in August.

While ultra-long-range aircraft generated much of the headline attention, several other aircraft also entered service in 2025. Cessna introduced a Garmin G5000-equipped upgrade to its Citation Latitude, earned FAA approvals for the Citation CJ3 Gen2 and M2 Gen2, and certification of the Citation Ascend followed by entry into service for the new model in December. Lastly, Pilatus’s upgraded PC-12 PRO was certified in March 2025.

One Aircraft Announced, One Aircraft Teased

Even as new aircraft entered service in 2025, manufacturers unveiled (and hinted at) new models in development that will enter service in the future. In September, Gulfstream introduced the G300, a new super-midsize jet intended to replace the G280. The G300, which features an upgraded cabin, a new flight deck, and new cabin windows, took its first flight in December. As the G300 progresses toward entry into service, Embraer also signaled potential new product development. In November, the company’s CEO said Embraer is evaluating business cases for an aircraft larger than its current Praetor 500/600 family.

Other Aircraft Achieve Milestones

 While some new aircraft entered service and others were newly introduced, several programs reached key development milestones in 2025. In February, HondaJet began wing assembly for its next-generation light jet, the Echelon, and in October completed authorization testing of its next-generation Autoland system for the HondaJet Elite II. Following a Flexjet order announcement in September, Otto, which is developing a fully composite airframe designed to enhance laminar flow and fuel efficiency, debuted a mockup of its Phantom 3500 at NBAA-BACE in October. Dassault also advanced development of the Falcon 10X, with the Rolls-Royce Pearl 10X engine completing most certification testing by May. Media reports in December indicated the first aircraft was completed and is nearing initial flight testing. Finally, Cessna began flight testing the second Citation CJ4 Gen3 aircraft. 

Final G650 Delivery Marked End of an Era

The final G650 rolled off of Gulfstream’s production line in February, with the last two aircraft delivered to the Italian Air Force in July. These deliveries marked the end of a 13-year production run. With type certification achieved in 2012, the G650 established a new class of globe-spanning business jets, offering larger cabins and longer range than its predecessors. In 2014, Gulfstream unveiled the G650ER, extending the aircraft’s range. According to JetNet market intelligence, Gulfstream delivered nearly 600 G650 and G650ER aircraft over the program’s lifetime. The G650 is now being replaced in Gulfstream’s product lineup by the upgraded G800.

Fractional Programs a Popular Way to Access Business Aviation in 2025

Fractional programs have continued to grow in popularity. Based on data from WINGX and JetNet, aircraft owned by fractional operators have represented a growing share of the installed base since 2020, while flight activity has increased steadily over that period. To meet this demand, operators are expanding their fleets. Flexjet signed a $7 billion order with Embraer in February and introduced Gulfstream’s G700 into its fleet in September. FlyExclusive added its fifth Challenger 350 in April and is targeting a 15-aircraft Challenger fleet.

This growth is attracting new investment into the sector. LVMH took a 20 percent stake in Flexjet in July, and a new fractional startup, called Bond, was announced in October after placing an order for up to 120 Bombardier aircraft. Operators are also extending their reach through partnerships. The PlaneSense–Jetfly agreement announced in January is one example, allowing customers of each company to access the other’s fleet. The fractional market appears well positioned for continued growth in 2026, underscored by NetJets’ announcement in November that it had presold more than half of its expected 2026 deliveries.

U.S. FAA Makes Headlines

The FAA drew attention in 2025 with several notable developments. In March, the agency announced the creation of a process to allow aircraft owners to keep their contact information private, as required under the FAA Reauthorization Act of 2024. Under the new rule, owners may submit a request to remove identifying information from public aircraft ownership records.

The FAA was also affected by the U.S. federal government shutdown. Staffing shortages led the agency to suspend nearly all general aviation and nonscheduled operations at 12 major airports and to slow operations at an additional 28 airports in November. Responding to these disruptions, business aircraft operators diverted to secondary airports, limiting operational impacts and demonstrating the flexibility of business aviation.

The Future Looks Bright

Over the past several years, the business jet transaction market remained stable. Despite strong demand, supply chain and labor constraints limited manufacturers’ ability to increase production, while pre-owned transaction volumes remained steady. By 2024, manufacturers began making progress in easing these constraints, and activity in the pre-owned market picked up, increasing transaction volume. Supported by a strong economic environment, ongoing wealth creation (despite continued uncertainty), and sustained demand for business aviation from both new and established users, transactions rose again in 2025 and are expected to continue growing. Global Jet Capital forecasts that new and pre-owned transactions will grow at an average annual rate of 3.9 percent through 2029. Growth is expected to be strongest among larger aircraft, where greater range, passenger capacity, and a superior cabin experience will drive higher demand than in other segments of the market.

GJC Surpasses $5 Billion in Total Originations

Completing a record year, Global Jet Capital has now surpassed $5 billion in total originations over its first decade in business, helping clients finance the acquisition of nearly 300 business aircraft along the way.

That milestone reflects the strength and scalability of the GJC platform, with annual originations steadily growing since the company was founded in 2015. As business jet owners have increasingly recognized the flexibility and strategic value of operating leases, that momentum accelerated again in 2025, driving another meaningful step up in originations.