Covid-19 impacted private jet deliveries to 644 units, down 20.4% from 809 in 2019, and the lowest since 2004.
New private jet deliveries dropped by 20.4% from 809 in 2019 to 644 last year. It was the lowest total since 2004, according to the General Aviation Manufacturers Association.
Business Jet delivers reached their highest total since 2009, according to the General Aviation Manufacturers Association
Many of the new aircraft will find their way to both fleet and fractional operators providing access to shareowners and jet card customers
Glory days, well, they’ll pass you by
Glory days, in the wink of a young girl’s eye– Bruce Springstein
No doubt, many of those involved in manufacturing private jets recall fondly 2008. That’s when the industry delivered 1,317 new business jets. It was an increase from 2007’s then-record mark of 1,137 new private jets delivered. That busted the 2006 numbers, also a then-record of 887 units delivered.
With the Great Recession, deliveries of new private jets dropped to 874 units in 2009, even more to 767 in 2010, then 696 in 2011, before bottoming out in 2012 at 672 aircraft.
Despite the seemingly rosy forecast, figures underline how the industry has now struggled through a decade of tepid recovery
Private jet broker Jetcraft has released new research predicting 11,765 pre-owned transactions over the next five years, equating to $61 billion in value, and 3,444 new deliveries, representing $90.5 billion. By 2023, the total market for used and new deliveries will exceed $30 billion annually. Pre-owned business aircraft transactions are expected to outpace those of new deliveries four to one.