Sales of business jets soared in 2021/2022. Almost all were sold out.

After a prolonged period of sluggish sales, corporate jet manufacturers are beginning to see a backlog of orders, writes Brian Foley. If patience is a

After a prolonged period of sluggish sales, corporate aircraft manufacturers are beginning to see a backlog of orders, writes Brian Foley.

If patience is a virtue, then business jet manufacturers are the most virtuous of all, having waited around 13 years to announce that the industry is thriving again.

Back in 2008, the industry delivered over 1,300 new aircraft worldwide. Following the 2008–2009 recession, this number shrank to about half that amount per year, roughly where it stands today.

But that is about to change.

Overall deliveries fell by 20% in 2020, a period that included the height of the pandemic and was characterized by factory shutdowns, supply chain disruptions, and potential buyers waiting for economic confidence to return.

However, while manufacturers took steps to optimize their operations, other sectors suddenly began to thrive. Wealthy travelers sought alternatives to crowded airports and cramped airlines, opting for private jet charters or fractional ownership. Data showed that business jet travel quickly rebounded to pre-pandemic levels, while airlines continued to struggle.

This influx of new private jet users, which led to a business increase of over 20%, combined with increased usage by existing clients, forced fractional provider NetJets to temporarily halt further sales of its charter services.

At the same time, the second half of 2020 saw a sharp rise in transactions involving pre-owned business jets, setting unprecedented records and nearly depleting available inventory.

The increase in charter activity and used aircraft sales in 2020 foreshadowed what was to come for business jet manufacturers. Although the beginning of 2021 was still somewhat sluggish, by the end of the first half, most OEM manufacturers reported new aircraft orders outpacing deliveries by a factor of two, replenishing depleted backlogs and providing hope that the long-lost productive days of the early 2000s might finally return.

Since aircraft production cannot be ramped up with the snap of a finger, overall deliveries in 2021 will not differ significantly from previous years. However, as OEM manufacturers gain confidence that the increased demand is real and that they can produce more aircraft without risking unsold inventory, the ramp-up will become increasingly steep.

Significant growth began in 2021/2022 and will continue for several years, exceeding 900 units for the first time since 2007.

All major aircraft manufacturers will benefit from this trend, but the improving market situation has particularly favored Bombardier, which has recently transformed into a business jet manufacturer, and its future is tied to this segment.

For now, business jet manufacturers will continue to gladly accept orders, replenishing their unfinished orders, and will finally be able to afford the luxury of considering increased production in the future. “It’s a good time to be in business” — a phrase not uttered since 2007 — will soon return to the industry’s lexicon.

As Aristotle said, “Patience is bitter, but its fruit is sweet.”

Currently, there is a shortage of business jet offerings for sale, as all aircraft have been actively purchased in 2021 and 2022.

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