Mon, Dec 27, 2010
Inventory Is Down Over First 11 Months Of the Year
The pre-owned business jet inventory has shown improvement
through November of this year, but market analyst Jetnet says that
the number of available used bizjets remains stubbornly high.
Business Jet inventory For Sale percentage shows the largest
change, down 1.5 points to 15.1% from 16.6%. Most important is the
percentage change in the Sale Transactions; Business Jets lead with
the largest percentage gain, 18.7%, compared to 2009. All aircraft
categories are taking longer to sell in 2010, ranging from 34 to 79
more days in the YTD comparisons. The Pre-owned Piston Helicopter
segment is the only aircraft market sector to show a decrease in
sale transactions (an 8.1% drop).
According to one group of economists, the recession ended in
June 2009 and the U.S. has now recorded five consecutive quarters
of positive results in U.S. Real Gross Domestic Product (GDP),
defined as the output of goods and services produced by labor, and
property located in the United States. However, the GDP quarterly
numbers released by the U.S. Bureau of Economic Analysis have shown
a subpar result for business aviation, at least for the last two
quarters. Historically, whenever the GDP has been greater than
3.0%, the business aircraft market is in a growth mode.
While the Business Jet inventory For Sale remains stubbornly
high reflecting the subdued pace of recovery, it is lower than in
2009. Good news can be seen in the Full Sale Transactions for
Business Jets, as the industry has finally dug its way out of the
hole created in October 2008 and throughout all of 2009. The YTD
(January through November) 2010 Business Jet Full Sale Transactions
have now exceeded the YTD transactions in 2008 by 1% and 2009 by
18.7%, as shown in Chart B. The YTD 2010 results are 7% and 16%
below the YTD 2006 and YTD 2007 (peak) levels.
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