Ahead of the International Aircraft Dealers Association’s (IADA) fourth-quarter market report next month, the organization said early projections are for its dealers to have completed more than 1,320 business aircraft transactions totaling more than $8.8 billion this year. That would be down slightly from the 1,372 transactions IADA counted in 2021.

Still, the market is expected to cool a bit going into 2023. “The signals that we’re seeing from the broker-dealers in our group and our service providers are that the markets are beginning to normalize, and buyers are starting to become more rational,” said Zipporah Marmor, IADA chairman and v-p of aircraft transactions at ACASS. “The frenzy of the last 12 to 24 months has calmed down quite a bit and we see this as healthy for our industry.”

Marmor explained that business aircraft are no longer appreciating at the “unsustainable rate” they were in previous quarters. However, she added, “We do think the first half of 2023 will be strong as we’re seeing some buyers waiting to see what happens after 100 percent U.S. bonus depreciation is no longer on the table and the rush to close at the year-end is over.”

In the first 11 months of this year, IADA members bought and sold more than 1,200 business aircraft worth $8 billion.