Used Aircrafts

Used Aircrafts

Global Used Aircrafts Market to Reach US$5.4 Billion by 2030

The global market for Used Aircrafts estimated at US$3.8 Billion in the year 2023, is expected to reach US$5.4 Billion by 2030, growing at a CAGR of 5.3% over the analysis period 2023-2030. Below 15 Years Age Aircraft, one of the segments analyzed in the report, is expected to record a 6.5% CAGR and reach US$2.8 Billion by the end of the analysis period. Growth in the 16 - 30 Years Age Aircraft segment is estimated at 4.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.0 Billion While China is Forecast to Grow at 8.9% CAGR

The Used Aircrafts market in the U.S. is estimated at US$1.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 8.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.0% and 5.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.

Global Used Aircraft Market - Key Trends & Drivers Summarized

Why Is the Used Aircraft Market a Viable Option for Aviation Stakeholders?

The used aircraft market provides a cost-effective alternative for airlines, charter operators, and private buyers looking to expand their fleets without the significant financial outlay required for new aircraft. Used aircraft can range from older models that have been retired from commercial service to relatively newer planes that have been well-maintained and offer substantial operational life. The market covers a wide range of aircraft types, including commercial jets, regional aircraft, business jets, and helicopters. For airlines, purchasing used aircraft can be a strategic decision to quickly increase capacity, replace aging fleets, or enter new markets. Additionally, used aircraft often come with a shorter lead time compared to new orders, allowing operators to respond swiftly to market demands.

How Has the Market for Used Aircraft Evolved?

The used aircraft market has evolved significantly over the years, influenced by economic cycles, technological advancements, and changes in the global aviation industry. Historically, the market was primarily driven by airlines looking to offload older aircraft as they upgraded to newer models. However, in recent years, the market has expanded to include a broader range of buyers, including low-cost carriers, start-up airlines, and private operators. The availability of financing options and leasing arrangements has also made it easier for buyers to acquire used aircraft. Additionally, the growth of online platforms and marketplaces has increased transparency and accessibility in the used aircraft market, allowing buyers to compare options and make informed decisions. The COVID-19 pandemic further impacted the market, leading to an increased supply of used aircraft as airlines downsized fleets and deferred new orders, creating opportunities for buyers to acquire well-maintained aircraft at lower prices.

What Are the Latest Trends and Considerations in the Used Aircraft Market?

Several emerging trends and considerations are shaping the used aircraft market, offering new opportunities and challenges for buyers and sellers. One significant trend is the increasing demand for fuel-efficient and environmentally friendly aircraft, which has led to a preference for newer used models with advanced engines and avionics that offer lower operating costs and reduced emissions. Another important trend is the rise of aircraft leasing companies, which are playing a larger role in the market by acquiring used aircraft and leasing them to operators on flexible terms. The use of digital platforms and data analytics is also transforming the market, with more sophisticated tools available for assessing the value and condition of used aircraft, predicting maintenance needs, and managing the buying process. Additionally, the growing importance of sustainability in aviation is influencing the market, as operators seek to reduce their environmental impact by extending the life of existing aircraft rather than purchasing new ones.

What Factors Are Driving the Growth of the Used Aircraft Market?

The growth in the used aircraft market is driven by several key factors that are influencing the demand for cost-effective and flexible fleet solutions in the aviation industry. One of the primary drivers is the increasing need for airlines and operators to manage costs effectively, particularly in the face of economic uncertainty and fluctuating fuel prices. The availability of well-maintained, relatively new used aircraft with modern features and lower operating costs is also driving demand, as these planes offer a balance of affordability and performance. Additionally, the growing role of leasing companies and the availability of flexible financing options are making it easier for buyers to acquire used aircraft, further fueling market growth. The ongoing expansion of low-cost carriers and regional airlines, particularly in emerging markets, is another significant factor driving demand for used aircraft, as these operators seek to quickly scale their fleets and enter new markets. These factors, combined with the increasing focus on sustainability and the efficient use of existing resources, are expected to sustain the growth of the used aircraft market in the coming years.

Select Competitors (Total 56 Featured) -

• Bombardier, Inc.
• Breezer Aircraft GmbH and Co. KG
• Britten-Norman Aerospace
• CIRRUS DESIGN CORPORATION D/B/A CIRRUS
• Dassault Falcon
• Deutsche Aircraft GmbH
• Diamond Aircraft Industries GmbH
• Embraer SA
• Gulfstream Aerospace Corporation
• Lancair International LLC
• Piper Deutschland AG
• Textron Aviation, Inc.

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