Key Takeaways
- Strong demand for new business jets and growing manufacturer backlogs are pushing buyers toward the pre-owned aircraft market.
- Limited late-model inventory is creating a competitive environment where buyers need accurate valuations, financing readiness, and access to off-market aircraft.
- The restoration of 100% first-year bonus depreciation has helped support business jet purchasing activity and is expected to influence transaction timing in 2026.
- Aero Ventures addresses key pre-owned aircraft buying challenges through real-time valuations, residual value forecasting, rapid capital-backed offers, and curated inventory access.
- As new aircraft backlogs continue to outpace production, speed, data, and efficient transaction execution are likely to remain important competitive advantages in the pre-owned market.
Manufacturers delivered 854 business jets in 2025, the highest annual count since 2009, and still couldn’t clear their order queues. Gulfstream’s backlog grew from $19.7 billion to $21.8 billion between Q4 2024 and Q4 2025. Bombardier’s expanded from $14.4 billion to $17.5 billion over the same period. IBA Group’s 2026 delivery outlook forecasts 884 deliveries in 2026, up 6.5%, while noting that “completions and supplier performance can cap output even when the orderbook is healthy.” For buyers who want an aircraft before 2028, the new market isn’t a realistic option. The pre-owned market is.
That constraint defines where activity is actually happening in private aviation ownership. The new market is moving paper. The pre-owned market is moving aircraft.
What the Backlog Data Actually Shows
The 854 deliveries recorded by the General Aviation Manufacturers Association in 2025 are high output by recent standards, and still not enough to clear either manufacturer’s queue. Deliveries fell to 644 in 2020, per Private Jet Card Comparisons’ GAMA data compilation, and recovered incrementally through 2021 and 2022 as supply chains remained disrupted. By the time demand accelerated, driven by pandemic-era adoption of private aviation and subsequent wealth accumulation, the production base couldn’t keep pace.
IBA’s analyst Vaibhav Shankar frames the delivery data in terms relevant to pre-owned buyers: “Delivery forecasts are not just a production statistic. They shape lead times, availability, residual risk, and the leverage that buyers and sellers bring to both new aircraft deals and the secondary market.” A two-year-plus lead time on new Gulfstream and Bombardier aircraft doesn’t merely inconvenience buyers who need near-term access. It redirects them entirely. The buyer who can’t get a new G700 in 2026 will look for a two-to-four-year-old G700 or G650 in the pre-owned market, where every other buyer has made the same calculation.
The pre-owned supply available to satisfy that redirected demand is tighter than the headline numbers suggest. Johnny Foster, CEO of OGARAJETS, told AvBuyer that overall pre-owned supply is approximately 60% of 2018 levels. Roughly 6% of the active business jet fleet is currently listed for sale, against the 8% benchmark that defines a balanced market. For U.S. buyers specifically, effective availability is narrower still. Many non-U.S.-registered aircraft were effectively ruled out by domestic buyers through much of 2025, as tariff uncertainty made imports too difficult to execute before year-end depreciation deadlines.
The Policy Variable: Bonus Depreciation
One factor accelerated pre-owned demand throughout 2025 and will continue to do so in 2026. The One Big Beautiful Bill Act, signed in July 2025, restored 100% first-year bonus depreciation for qualified aircraft placed in service from January 2025 forward. The previous depreciation schedule had been stepping down toward zero; the OBBBA eliminated the phase-down and made the full deduction permanent.
The effect on transaction timing was immediate. AvBuyer’s market analysis describes how OBBBA’s passage intensified Q4 2025 buying activity as buyers raced to place aircraft in service before year-end to capture 2025 deductions. That year-end concentration pattern will repeat in Q4 2026. PNC Aviation Finance’s Keith Hayes predicted it directly: “We anticipate it will be very strong and we do anticipate this carrying forward into 2026.”
The permanence of the depreciation benefit is also changing how buyers think about timing more broadly. Under the previous phase-down schedule, waiting a year to buy meant accepting a lower depreciation rate, which created artificial urgency. With the full deduction now available indefinitely, buyers can align a purchase with their financial planning calendar rather than a disappearing tax window. Hayes noted that 50 to 70% of corporate aircraft are acquired with cash. For that cohort, bonus depreciation on a $20 million aircraft translates directly to a large first-year tax offset on income that would otherwise be fully taxable.
PNC’s Ramy Sidhom added that financing access won’t be a constraint for the buyers who do require capital. “Banks are hungry for interest income,” Sidhom said. “I think there are plenty of lenders in the space.”
What the Transaction Data Shows
IADA-accredited dealers logged 1,630 closed pre-owned deals in 2025, the fourth consecutive year of increasing annual transactions. IADA members account for roughly 40% of global pre-owned sales and more than $6 billion in annual volume. New acquisition agreements in Q4 2025 came in 33% higher than Q4 2024. Market sentiment among dealer members reached 3.72 on a 1-to-5 scale in Q4, the highest reading of the year.
IADA’s chairman, John Odegard of 5×5 Trading, summarized the setup going into 2026: “Strong OEM backlogs, improved financing conditions, and sustained interest from both new and repeat buyers are expected to support continued market health in 2026.”
The late-model segment is the tightest. PNC Aviation Finance’s Wendy Preston told AvBuyer that “the lowest inventory levels are for aircraft two to five years old,” adding that supply remains constrained through the six-to-ten-year range as well. That inventory profile is a direct consequence of the backlog. Insufficient new aircraft production over the past five years means there’s no large cohort of three-year-old aircraft coming off original ownership cycles to replenish late-model supply. The shortage and the backlog reinforce each other.
Sellers recognize this. Fewer aircraft were discounted in 2025 than in any year since 2022. Exclusive sell-side retainers declined 11% year-over-year in Q4. That decline reflects seller confidence: well-positioned aircraft move without extended campaigns. Steve Bloom, founder and CEO of Bloom Business Jets, told AvBuyer that market conditions will remain steady: “In the next six months I think there will be slower growth but steady sales, and the market might even tick up a little bit in demand. I don’t think any buying freezes are coming up.”
Where Aero Ventures’ Tools Are Most Useful
Buyers in this market need two things: real-time valuation data and capital they can deploy within 48 hours. Sergey Petrossov identified both as the central problems when he designed Aero Ventures. In a market where inventory is scarce, demand is active, and depreciation deadlines drive year-end urgency, the difference between closing an aircraft and losing it to another buyer often comes down to how quickly a committed offer can be made.
A buyer who can access real-time valuation data moves faster than one relying on broker estimates updated weekly. A buyer who can execute financing commitments within 48 hours closes aircraft that a buyer still waiting on bank approvals loses. Late-model large-cabin aircraft in preferred categories trade before public listings; off-market access isn’t a convenience in this environment, it’s a prerequisite for seeing the best inventory.
Aero Ventures Marketplace launched September 3, 2025, and delivers all three capabilities through a single platform for transactions of $10 million and above. The Owner Marketplace generates AI-powered valuations from comparable sales, maintenance records, and utilization data in real time. Its five-year residual value forecasting gives buyers a projection of how a prospective acquisition will perform through the intended holding period, relevant for both the purchase decision and eventual exit planning. The 48-hour capital-backed offer facility addresses the speed requirement. The curated matching model, which qualifies buyers and sellers before connecting them through advisors, provides access to off-market inventory that doesn’t appear in any public database.
As Sherpa Report quoted Petrossov describing the founding rationale: “By solving for the two biggest pain points, lack of information and slow delivery, we believe Aero Ventures will become the hub where the world’s most discerning aviation clients begin and manage every major ownership decision.”
Petrossov’s prior experience serving as President of XO and Chief Growth & Digital Officer, overseeing a platform competing in the digital charter and membership market, gave him direct exposure to what buyers at the top of the market want when they decide to own rather than access. XO’s client base included buyers whose annual aviation spending was large enough to justify whole ownership but who had never navigated the pre-owned transaction process independently. Understanding what stops those buyers from completing an ownership transition, and building a platform that removes those specific barriers, is the applied logic behind Aero Ventures’ design.
What the Backlog Means for 2026 and Beyond
IBA’s delivery data frames the runway. The group forecasts 884 business jet deliveries in 2026, and notes Gulfstream maintained broadly flat delivery guidance despite a growing backlog. The queue is growing faster than production is resolving it. Bombardier’s 2025 book-to-bill ratio of 1.4 indicates it booked 40% more orders than it delivered. Both manufacturers are converting backlogs into commitments, not into aircraft buyers can fly.
IADA’s data shows accredited dealers completed transactions in 155 days on average through 2025, 19% faster than the 192-day industry norm. Speed is already a differentiating factor among established players. For a platform entering with AI-driven valuation tools, pre-committed capital, and off-market access, the performance benchmark is clear. The buyers who need to close quickly, in a market that can’t deliver a new aircraft for two years, are where Aero Ventures’ combination of capabilities is most directly applicable.
FAQs
Why are buyers turning to the pre-owned business jet market?
Strong demand and limited production capacity have created substantial backlogs for new business jets from major manufacturers. Buyers who need aircraft sooner may therefore turn to the pre-owned market, particularly for late-model aircraft that can be acquired without waiting several years for a new delivery.
How are new business jet backlogs affecting pre-owned aircraft prices and availability?
Long new-aircraft waiting lists are redirecting buyers toward pre-owned inventory, while the supply of newer used aircraft remains limited. This combination of strong demand and constrained inventory can create a competitive market in which desirable aircraft move quickly.
How does bonus depreciation affect business jet purchases?
The restoration of 100% first-year bonus depreciation for qualifying aircraft has provided an important tax incentive for eligible buyers. It can influence when buyers choose to place an aircraft into service and has contributed to increased purchasing activity around year-end.
What should buyers look for when purchasing a pre-owned business jet?
Buyers should consider factors including aircraft condition, maintenance history, utilization, market value, residual value, financing, and the availability of suitable inventory. Access to current valuation data and qualified professional advice can also help buyers make faster and more informed decisions.
How can technology improve business jet transactions?
Technology can give buyers faster access to valuation data, comparable sales information, maintenance records, and aircraft utilization data. Platforms that combine these insights with financing capabilities and curated off-market inventory can help qualified buyers evaluate and pursue aircraft more efficiently.