Aircraft deliveries are up but values were down a tad. That’s the conclusion of the recently published General Aviation Aircraft Shipments and Billings Report from the General Aviation Manufacturers Association (GAMA).
The report covers the first quarter of 2023 and shows that the number of planes delivered was up year to year with slightly lower prices across all segments other than helicopters.
Shipments of private aircraft for sale through the first quarter of 2023 when compared to the same period in 2022 saw piston airplane deliveries increase by 10.1% with 294 units delivered. Turboprop deliveries increased by 6.4% with 117 units, and business jet deliveries were flat with 117 planes delivered.
The value of airplane deliveries through the first quarter of 2023 was just under $3.7 billion, down from north of $3.8 billion in 2022. The mean average cost per aircraft in the first quarter of 2023 was $6.99 million, down from $7.73 million a year ago.
Piston helicopter deliveries increased by 40%, year to year, with 56 units, and turbine helicopter deliveries increased by 53% with 153 units.
“The continued health of the general aviation manufacturing industry is encouraging, particularly in light of persistent supply chain, workforce and North American regulatory process challenges,” GAMA President and CEO Pete Bunce said. “Our manufacturers are focused on meeting this thriving product demand with new aircraft which incorporate advanced technologies that further enhance safety and fuel performance.”
GAMA’s report on the quarter comes as many in the business aviation community are departing from EBACE, the major European convention for the industry. Also during EBACE, Global Jet Capital released its five-year forecast for the business aviation market.
Among the main highlights, the analysts who drafted the report expect the total unit volume of business jet transactions, for new and preowned aircraft, to slide 2.6% this year. However, price tags on jets should remain strong, forecast to gain 1% due to the increase in deliveries of new planes and the still-growing demand for larger business jets.
Global Jet Capital calls for the preowned private jet sales market to slip by 4.8% in unit transactions at a lower dollar volume, reduced by 8.5% this year before rebounding over the next several years.