Business aircraft data specialist JetNet's iMarket Report 2021, released today at the JetNet iQ Summit in New York City, predicts "an enduring business aircraft recovery." The report forecasts 718 new business jet deliveries this year, up 15 percent from 2020, and a 7 percent delivery increase in 2022, before flattening in 2023 due to supply chain issues before anticipated increases in production. JetNet predicts some 8,529 new business jet deliveries over the next decade worth $245 billion.
Based in part on ongoing, statistically valid surveys with owners and operators, the forecast reflects the highest level of optimism since JetNet began measuring customer sentiment more than a decade ago, said Rolland Vincent, consultant and JetNet iQ creator.
More than 80 percent of respondents reported they are likely to buy a new business jet in the next five years. Another bullish indicator: nineteen of the world’s 20 largest economies are expected to grow 3 percent or more this year.
In the preowned market, as of the end of July 2021, 3,205 preowned retail transactions were registered globally, and 1,289 aircraft (about 5 percent of the in-service fleet) were available for sale. “We’ve never seen inventory so low,” said Vincent, and the shortage is driving some shoppers to buy new, rather than a preowned jet.