While the used business aircraft market in 2021 may have been a boon for dealers accredited by the International Association of Aircraft Dealers (IADA), it wasn’t a necessarily favorable one for buyers. “We enjoyed a solid year, maybe our best," said Ogarajets president and CEO Johnny Foster. "However, the market created an environment that was not nearly as positive for our buying clients. Values and prices are completely disconnected, supply is almost nil, and due diligence is limited by shop capacity and demand.”

According to IADA’s Fourth Quarter 2021 Market Report released today, accredited dealers such as Ogarajets closed 20 percent more aircraft deals in 2021 than in 2020: 1,372 aircraft transactions compared with 1,135 a year earlier. IADA noted that many of those airplanes never made it to the market “before being snatched up by buyers willing to pay top dollar.”

Dealers also reported that they expect a continued increase in demand for used business turboprops and jets across all size categories through at least the first half of this year. Prices also will keep rising, they added. “Values have increased an average of 10 percent a month for the past three months,” said IADA chairman emeritus Paul Kirby, executive v-p of IADA dealer QS Partners. “Absent an increase in supply or a dramatic drop in demand, appreciation will likely continue into 2022.”