IADA members noted that the anticipated slowdown due to geopolitical tensions and the ongoing election cycle had less impact than expected. [Courtesy: Pilatus Aircraft]
Key Takeaways:
IADA's Q3 2024 report indicates robust growth in business aircraft transactions, with new acquisition agreements up 22% year-over-year and closed deals reaching record highs for the third quarter since 2020.
The market is experiencing a normalization of values, evidenced by an increase in reduced-price listings and buyers absorbing increased inventory at slightly lower prices than two years ago, particularly in midsize, light jets, and turboprop segments.
Days on market have stabilized, and despite anticipated slowdowns, buyer hesitation is diminishing due to renewed confidence and dropping interest rates, leading to an optimistic outlook for an active Q4 and the next six months.
The International Aircraft Dealers Association (IADA) released its third-quarter market report for 2024 on Monday analyzing the current aviation marketplace.
The full report, available here, stated that IADA dealers and brokers collectively account for over half of all transactions worldwide.
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Caleb Revill is a journalist, writer and lifelong learner working as a Junior Writer for Firecrown. When he isn't tackling breaking news, Caleb is on the lookout for fascinating feature stories.
