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2024 Q3 State of The Market
View our comprehensive analysis of recent market trends.
2024 Q3 Insight

MARKET HIGHLIGHTS

  • Modern pre-owned jet supply continued to increase in Q3, now at 7.2% of the Active Fleet for sale, or a 0.3 percentage point gain compared to last quarter. This is the highest available inventory since 2020 Q4, when it was at 8% of the Active Fleet for sale.
  • Demand remained relatively strong as well in Q3 with 343 aircraft sold to retail, or a 5% increase year-over-year, which is the third quarter in a row with a quarterly year-over-year increase. This brings year-to-date transaction volume up 10% compared to the first three quarters of 2023; no surprise given the shift back towards buyer-favorable market conditions with a larger amount of aircraft options on the market and decreasing pricing.

VALUE TRENDS

  • Individual fleet value performance remains varied in Q3, with 16 of the 26 fleets detailed recording a reduction in values compared with the prior quarter. Fleetwide, quarter-over-quarter pre-owned modern jet values decreased by an average of 2.6% in Q3, the eighth consecutive quarter in which we have seen average values decline.
  • The year-over-year average value loss of 7.3% is slightly higher than the ~6% historical benchmark of value loss per year for mature fleets, and aircraft values remain up an average of 10.4% compared to 2019 Q4 with six of these fleets below their pre-pandemic values.