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has been an increase in first-time buyers who do not have a previously owned aircraft to sell. We can assume that many of the factors listed above all have played a part in this very slow and lengthy business jet market recovery since 2009.
New Business Jet Deliveries
New business jet deliveries by OEMs over the past eight years are reflected in Table A (left). YTD 2016, new deliveries are down -7.7% versus the same period in 2015. New business jet deliveries by OEM reflect that the Top Three (Bombardier, Gulfstream and Cessna) have all changed positions since 2009, with Cessna now leading the pack in business jets delivered. Textron’s Cessna is the only OEM showing an increase, up 13.2% compared to 2015, owing in part to new model introductions. Bombardier, Gulfstream and Dassault are all showing double-digit decreases versus 2015. Overall, new business jet deliveries are lower today compared to 2015, but are at the exact same level as reported in 2012 (first nine months).
Pre-owned Full Sale Transactions
Pre-owned business jet deliveries (by OEM) over the past eight years are presented in Table B (top, right). Results YTD: 2016 deliveries are down -2.2% compared to the same period in 2015; 2014 represented a record year for pre-owned business jet full retail sale transactions; and JanuarySeptember 2016 is only slightly off that pace. Note, the largest increases in used aircraft sale transactions are from Gulfstream (29 more sales than in 2015) and the Hawker Beech Premier (+11). The largest decreases in pre-owned sales (YTD 2016 vs 2015) were found among Hawkers (-32), Challengers (-24) and Dassault Falcon (-13).
CHART A: Business Jets For Sale
2005 to 2016
Higher Pre-owned ‘For Sale’ Inventory Levels
Chart A (right) shows the number and percentage of business jets ‘For Sale’ from 2005 to the first nine months of 2016. The chart is broken into four sections: PreRecession (2005-2007); Recession (2008-2009); Post-Recession (2010-2014); Current (2015-2016). The number of business jets ‘For Sale’ jumped 1,100 from 2007 to 2009, going from a 10.8% Fleet ‘For Sale’ to 16.3%.
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