Asian Sky Quarterly 2023 Q4

MARKET DYNAMICS: BUSINESS JETS
% OF FLEET FOR SALE
Corp. Airliner Long Range Large Medium Light APAC
8%
7%
6%
5%
4%
3%
2%
1%
0
Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023
After a spate of transactions at the end of the year, there was a decline
in the global percentage of aircraft for sale from 5.3% to 5%. The
models with the largest changes in the fleet for sale were all from
Gulfstream, including 12 Long Range G550s (12 left the pre-owned
market), and the Large G450 (eight new to the market). Despite the
large number of aircraft sold over the winter, the number of aircraft for
sale globally continued to trend upward. Compared to the same period
in 2022, there were 137 more aircraft for sale at the end of Q4 2023, with
the ratio of fleet for sale increasing by one-third. The historical trend
of aircraft for sale in Asia-Pacific has been less pronounced than the
growth trend in the global market. During this quarter, the ratio of aircraft
for sale in Asia-Pacific rose from 4.4% to 5.7%, and the number of aircraft
for sale increased from 23 to 35, which was on par with the number of
aircraft for sale at the end of 2021.
AVERAGE DAYS ON MARKET
Corp. Airliner Long Range Large Medium Light APAC
700
600
500
400
300
200
100
0
Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023
The global average days on market (DOM) for all size categories
remained generally stable, with a slight increase compared to Q3 2023.
The average DOM for Corporate Airliners rose from 282 in Q4 2022 to
428 in 2023, with the DOM of Corporate Airliners sold in 2023 ranging
from three months to more than a year. The average DOM for other size
categories at the end of 2023 was 166 days. The addition of 28 aircraft
from APAC entering the pre-owned market during Q4 was one factor
which led to the average DOM for the Asia-Pacific region declining from
174 days to 166 in the fourth quarter.
The global market value has remained on a slow upward trend during
2023, while the demand for business jets did not show a significant rise
over the past year, and the average number of days on the market has
remained stable across all size categories. According to our Mood and
Intentions Survey earlier in this publication, the current business jet
market will likely remain a balanced market.
FOURTH QUARTER 2023 — ASIAN SKY QUARTERLY | 58