Asian Sky Quarterly 2021Q1

PRE-OWNED MARKET SPOTLIGHT: GLOBAL XRS & GLOBAL 6000
ACTIVE FLEET BY DELIVERY YEAR
Global EXP Global XRS Global 6000 Global 5000 Global 5500 Global 6500 Global 7500
80
70
60
50
40
30
20
10
0
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Data Source: AMSTAT
Fleet Distribution
Over 160 Global XRS and 310 Global 6000s have been delivered to
customers all over the world. The highest number of Global XRS
deliveries in a single year took place in 2010, whilst for the Global
6000 it was 2015.
The Global family had been one of the most important product lines
for Bombardier before it divested itself of its other aviation and transportation
assets so that it could focus entirely on business aviation.
The Global 7500 saw its first delivery take place in 2018 and was delivered
in good numbers in 2020 – giving it a good start on Gulfstream’s
G600 & G700.
Given the Global family’s trans-Atlantic capabilities, North America
and Western Europe are the top operating areas for the XRS
and 6000, whilst Asia comes third place, with majority of its fleet
based in Greater China market (Hong Kong, and mainland China).
OPERATION AREA
REGION GLOBAL XRS GLOBAL 6000 GRAND TOTAL
N. America
W. Europe
Asia
76
39
15
123
107
42
199
146
57
According to ASG’s 2020 Business Jet Fleet Report, at the end of
2020, there were 17 Global 6000s based in Hong Kong, 16 based in
mainland China, and two in Taiwan. Australia has the second largest
fleet in in Asia-Pacific, with 11 Global XRS and four Global 6000
aircraft in operation.
On operator side, according to Amstat, VistaJet and NetJets are
the largest operators internationally. For Greater China, operators
include TAG Asia, Lily Jet, BAA and Bellawings.
Pre-owned Market Status
The average age for XRS fleet in operation is over ten years, whilst the
Global 6000 has just reached the five years threshold. Both models
have now entered their active pre-owned market age group. Despite
its current active state in the market, we estimate that supply will
fluctuate in the future.
Before 2020 the supply for both the XRS and Global 6000 had been
relatively stable, with 10-15 aircraft of each model actively in the market.
Since the pandemic, much like its competitors, supply has been
building up. In the first quarter of 2021 there were a total of 19 Global
XRS aircraft for sale - 11.8% of the total fleet. For the Global 6000,
there were 22 aircraft for sale – 6.7% of the total fleet. The inventory
level of both models is higher than for the Gulfstream G550, which is
currently between 4-5%.
Mid. East/Africa
Australia/Oceania
E. Europe / W. Asia
S./C. America
Grand Total
13
11
4
2
160
17
6
10
9
314
30
17
14
11
474
Data Source: AMSTAT
Over the past year, we have seen sellers mainly from the US and Europe,
and buyers mostly from the US and Asia. Between 2017-2020 there was
a stable market for the both the Global XRS and Global 6000, with an
average of 2-3 transactions taking place in each month for each model.
However, since the onset of the COVID-19 pandemic we have seen a
sharp increase in the number of Global 6000 transactions, with an average
of 4-6 transactions each month since Q2 2020.
FIRST QUARTER 2021 — ASIAN SKY QUARTERLY | 41