GlobalAir.com, a web-based aviation information resource and developer of the BuyPlane app, reported during NBAA-BACE 2019 that the value of its online inventory of preowned aircraft grew to an estimated $6.5 billion for the third quarter of 2019, about 17 percent higher than a year ago.
At the same time, market inquiries also rose by 20 percent compared to 2018 numbers, resulting in a busy preowned market that saw sales of 574 aircraft worth approximately $3.1 to $3.5 billion during the first three quarters of 2019, including 16 Gulfstream G550s and 15 Cessna Citation CJ3s.
“It has been an unusual, but brisk, year,” said GlobalAir.com president Jeffrey Carrithers. “We are noticing that high-pedigreed aircraft priced within the market boundaries are selling in weeks, whereas older aircraft with higher airframe times or priced outside of market boundaries are requiring substantially more time on the market.”
The average time for business jets listed on the site through the third quarter of 2019 was 199 days, with helicopters averaging 235 days, twin-engine turbines 228 days, and single-engine turbines 155 days. GlobalAir.com predicts that this market will continue through the first half of 2020 with no foreseeable decline with the exception of “election nerves.”
Based in Louisville, Kentucky, GlobalAir.com also provides an airport resource center, aviation business directory, and listing of aviation events. GlobalAir’s BuyPlane app has been downloaded more than 20,000 times since its launch in 2017.