The data shows a growing interest in private aviation from the EMEA market
Jetcraft has revealed new research providing insight into the future of private aviation, demonstrating increased demand from corporate markets and younger buyers.
Jetcraft’s 2023 Pre-Owned Business Jet Market Forecast indicates that continued growth is predicted in the years ahead, despite an inevitable market correction in 2023, setting new annual benchmarks for volume and value.
In 2022, total transaction value hit a record US$16.3 billion, driven in part by the resurgence of corporate aviation, following a dip during the pandemic.
Jetcraft’s latest data shows that the share of its buyers coming from the corporate sector reached 60% in 2022, demonstrating the value corporations place on jet ownership, particularly as a means of saving time and increasing efficiency.
Speaking about the findings, Jetcraft owner and chairman of the board Jahid Fazal-Karim said: "The return of the corporate buyer proves what we’ve always known: the continued importance of face-to-face interactions in the relationship world of business.”
Data shows that Jetcraft buyers in EMEA – Europe, the Middle East and Africa – now use their aircraft more than those in Asia Pacific and even the Americas, despite North America being the most mature market, demonstrating the market’s growing interest in private aviation.
Following research that identified a 20% increase in Jetcraft buyers are now under age 45, new data shows that younger owners use their aircraft the most, flying 19% more on average than those aged over 50.
The average Jetcraft buyer flew for 200 hours in 2022, with younger buyers making use of their aircraft to carry out business in growing industries such as tech.
For more information, visit www.jetcraft.com/market-forecast-2023