JETNET has released its 2024 Pre-Owned Business Aircraft Market Performance Review, detailing significant inventory growth, varied pricing trends and shifting sales activity across the sector.

“The 2024 pre-owned business aircraft market demonstrated significant supply-side growth, with inventory levels rising sharply across all segments,” says Paul Cardarelli, vice president of sales at JETNET. “While pricing trends varied, the market remained resilient and strong Q4 sales activity underscored continued buyer demand.”

Business jet inventory increased by 24%, peaking at 2,016 units for sale in November before closing the year at 1,851. Business turboprop inventory saw a 22% rise, reaching 822 units before settling at 779.

Pricing trends differed by category:

-Light jets maintained an average asking price of $3.0 million.

-Large jets rose 11% to $14.6 million.

-Mid-size jets declined 13%, closing at $4.75 million.

-Turboprops dipped 1.9% to $2.153 million.

Sales volumes also fluctuated. Just over 2,300 jets changed hands, a 4.2% year-over-year decrease, while turboprop sales fell 6% to 1,168 units. However, Q4 transactions surged, accounting for 33% of total annual business jet sales.

Cardarelli notes that the market is adjusting post-pandemic, with demand remaining strong for newer, well-maintained aircraft enrolled in engine programmes. Despite higher inventory, the percentage of the in-service fleet for sale stayed at seller's market levels, closing at 7% for jets and 5% for turboprops.