The next five years will see “steady and sustainable” growth in preowned business aircraft transactions, according to a market forecast published late last week by Jetcraft. According to the latest “Ever Forward: The Pre-Owned Business Aviation Report,” 11,202 preowned business aircraft transactions worth $73.9 billion will be completed between 2025 and 2029.

Jetcraft’s projections anticipate a 5.8% compound annual growth rate for the volume of transactions, with transaction values rising by 2.8% over the same five-year period. The report concluded that the large jet segment of the market will make a substantial contribution to driving sales as new models are increasingly delivered.

In 2024, the total value of preowned aircraft transactions worldwide was $13.4 billion, with 64% of deals closing in the U.S. As evidence of a generational shift in the market, Jetcraft’s analysts said that 29% of aircraft buyers were under 45 years old.

According to Jetcraft, growing numbers of “new tech” billionaires are fueling increased demand from younger aircraft buyers. The new report said that over the past decade, the number of under-45-year-olds in the market has nearly doubled.

Wealthy Clients Are Younger

“This mirrors rapid growth in the tech, AI, and finance sectors, where younger HNWIs [high-net-worth individuals] are generating new wealth and leveraging business aviation to support their business and lifestyle needs,” the report stated. “This trend is further accelerating globally as wealth transitions to the next generation, with an increasing number of HNWIs inheriting businesses and investments at a younger age.”

Demand from younger aircraft buyers was particularly apparent in Europe, the Middle East, and Africa, according to Jetcraft’s senior vice president of sales, Pascal Bachmann. Last year, there were 307 transactions worth $2.2 billion.

In the Asia-Pacific region, Jetcraft’s report logged 62 transactions worth $500 million. According to Joanna Kwong, president of Jetcraft Asia, that part of the world has a growing appetite for newer, large-cabin jets.

The 1,477 preowned aircraft transactions logged in the Americas last year were collectively worth $10.7 billion. According to Jetcraft CEO Chad Anderson, the company expects further growth in the U.S. in part due to business-friendly policies from the country’s new government.

Overall last year, across most regions Jetcraft identified the financial, energy, and aviation sectors as the most significant drivers of preowned aircraft acquisitions. In Asia, real estate was also logged as a growth area, while in Latin America agriculture and entertainment were singled out.

Jetcraft’s brokers also welcomed what they said had been a “much-needed market correction” in 2023 and 2024. During this period, aircraft transaction volumes returned to pre-pandemic levels values leveled out above peak rates seen in 2019.