Preowned business aircraft transactions remain on the upswing, increasing by 24% through the first three quarters of the year for accredited International Aircraft Dealers Association (IADA) members, according to the organization.
Releasing its&nbsp;third-quarter 2024 preowned aircraft market report on Monday in Las Vegas at the NBAA’s 2024 edition of BACE, IADA reported 847 business aircraft transactions were under contract through the first three quarters, compared with 704 in the same period in 2023.
For the third quarter, IADA dealers closed 373 business aircraft deals, compared with 324 in the same period in 2023 and 331 in the third quarter of 2022. Year-to-date, closings reached 993 by the end of the third quarter, up from 868 in 2023 and 929 in 2022.&nbsp;
“While the summer months may have been a bit light on sentiment toward business aircraft transactions, which is a seasonal norm, most of the dealers and brokers are reporting heightened activity over the past month,” said IADA chair Phil Winters, vice president of aircraft sales and charter management for Greenwich AeroGroup and Western Aircraft.
There were 965 aircraft retained to sell exclusively with IADA dealers, which is 50% up from 642 at the end of the third quarter in 2023.
How long an aircraft stays on the market has been a focus in the industry. According to Amstat data, the "days on market" rate increased by 55% over the past 18 months. The trend has stabilized in the third quarter, with the days-on-market rate experiencing only an 8% increase, staying below the 10-year average.

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