Cessna Citation CJ4 in flight
Business jet flight operations in the third quarter topped year-ago levels fueled in part by new business aviation users and those returning to the market, according to a Global Jet Capital report. (Photo: David McIntosh)

Business Jet Market Remains Resilient Despite Headwinds

Supply-chain issues and global economic concerns have had little effect on private flight demand.

The business jet market continued to show strength in the third quarter despite supply-chain issues and global economic concerns, according to Global Jet Capital’s latest "Business Aviation Market Brief."

A healthy labor market and growth in the service sector blunted the effects of inflation and rising interest rates during the quarter, according to the report. Meanwhile, Global Jet Capital said flight operations topped year-ago levels, thanks partly to new business aviation users and those returning to the market.

In addition, aircraft manufacturers saw backlogs rise to $43.5 billion in the three-month period, which was 38 percent higher year-over-year. Transaction volume did slow in the quarter when compared with third-quarter 2021, the report noted, and inventory levels increased slightly during the same period but remained below historic levels.

Despite the higher inventory, business jet bluebook values rose in the third quarter, climbing an average of 36.8 percent compared with the same period last year. The transaction value of used business jets totaled $10.5 billion from July through September, up from $9.1 billion in the third quarter of 2021.