Business Aviation Market Intelligence

APAC Swings Towards Pre-Owned

APAC Swings Towards Pre-Owned

Respondents to the latest Asian Sky Quarterly Survey indicated that they would be more interested in acquiring a pre-owned aircraft, rather than purchasing a brand new one in the next 12 months.

Business and general aviation consultancy and transaction company Asian Sky Group presented the survey results as part of its Quarterly publication, which is widely regarded to be the definitive source of information for the Asia-Pacific markets.

Purchase Intentions

Q2 2022 – Q2 2023

Asia-Pacific has long been regarded as a home for new aircraft, and whilst survey respondents have shown more interest in pre-owned jets before, during Q2 2023 there was a dramatic shift, with a 17% swing noticed between the first and second quarter in favour of pre-owned aircraft. The swing towards pre-owned closely matches the drop in the number of people indicating that they were unsure if they would acquire any aircraft in the next 12 months. Overall, those suggesting new acquisitions dropped by 9.2%, with those saying pre-owned climbing 4.1% and those unsure up by 5.7%.

“What we really mean when we say a shift is that there is some normalization going on as the market adjusts itself from the historic pricing and transaction levels that we have seen in the past few years, although we weren’t expecting the swing towards pre-owned to be so pronounced.”

Although there has been a shift in preference towards pre-owned aircraft, what didn’t change was the region’s preference for large cabin jets, which remained the preferred option for respondents in Greater China, as well as Southeast & Northeast Asia. You can read more about the survey findings by reading or downloading the latest Quarterly here.