Quarterly Insights
2025-02-07
2024 Q4 State of The Market
View our comprehensive analysis of recent market trends.
MARKET HIGHLIGHTS
- The quarter-over-quarter trend of increasing inventories in the Top 60 pre-owned jet markets continued for the third consecutive quarter, now at 7.5% of the active fleet for sale. In contrast, December saw the first month-over-month decrease since July, due primarily to the increased transaction volume at year-end. The year 2024 ends with inventories 13% higher than it began the year.
- Retail transaction volume was the strongest of the year in Q4 with 474 aircraft sold, which was up 1% year-over-year and meaning that every quarter of 2024 surpassed those in 2023. In total, 2024 ends the year with 8% more Top 60 market transactions than 2023, and is on record as the third most successful year for pre-owned business jet sales, behind only 2021 and 2022.
VALUE TRENDS
- Fleetwide, quarter-over-quarter pre-owned modern jet values decreased by an average of 2.1% in Q4, the ninth consecutive quarter in which we have experienced an average value decline. Individual fleet value performance remains varied in Q4, with 18 of the 26 fleets detailed recording a reduction in value compared with the prior quarter.
- The year-over-year average value loss of 7.3% remains slightly higher than the ~6% historical benchmark of value loss per year for mature fleets. Aircraft values remain up an average of 8.2% compared to Q4 2019 with seven of these fleets below their pre-pandemic values. However, no fleets are below the ~30% value loss that would typically be expected if the market had experienced five years of standard depreciation rates over that timeframe.