Record demand for business aircraft in Q3 2021, report finds


The latest business aircraft market report from Asset Insight, covering the third quarter of 2021, reveals record demand in all aircraft groups. The Q3 AI2 Market Report covers 134 fixed-wing models and 1,190 aircraft listed for sale.

According to the report, demand in the third quarter of 2021 was 68% above the second quarter of 2021. Sales volume in the third quarter increased just 1.5% over the second quarter, but was up 18% through the third quarter of 2021 versus the third quarter of 2020.

“In our last Market Report, the laws of supply and demand seemed to have been paused with demand increasing for a smaller and smaller pool of aircraft, while prices continued to fall,” said Tony Kioussis, president of Asset Insight. “Traditional economic forces appear to have regained their footing as the selling frenzy continues to reduce the fleet of available aircraft, and in Q3 prices began to rise. It’s more important than ever, however, that buyers have clear and accurate data about the aircraft they’re considering as the quality of the for-sale fleet has been picked over with available aircraft often carrying the promise of higher future maintenance costs.”

The company said that the average ask price trend, led by the large and mid-size jets, appears to have made a turn in September and is on the rise again. Asset Insight said the overall quality rating worsened during the third quarter of 2021, except in the light jets category, which improved slightly.

Referencing the speed with which some aircraft are selling, Kioussis noted: “The small pool of less attractive aircraft are also driving the number of average days on the market up, now to 407 days, which is not reflective of the unprecedented pace by which newer, higher quality aircraft are selling.”

Asset Insight provides a broad spectrum of machinery and equipment valuation services, along with aircraft acquisition consulting services, and expert witness support. The company has been involved in thousands of aircraft appraisals, from light single-engine aircraft to heavy airline transport aircraft. Asset Insight also provides aircraft maintenance evaluation and asset financial optimisation services. The company uses a proprietary Asset Grading System Process and related analytics, which it said will translate any asset’s maintenance condition into easy-to-understand, actionable financial information.

Image: Pexels from Pixabay

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Izzy has been part of the Business Jet Interiors International team since its second issue, and the editor since 2011. She also edits Auditoria and Railway Interiors International. Outside of work, Izzy is rediscovering her love of art by learning how to paint with watercolors.

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