Second-quarter preowned business aircraft sales transactions dipped slightly from the same period last year, but dealers are “cautiously optimistic” going forward and expect an uptick in transactions over the next six months. That's according to International Aircraft Dealers Association (IADA) executive director Wayne Starling, who released the association’s Second Quarter 2023 Market Report this morning.

IADA members recorded 303 transactions from April through June, compared with 310 for the same period last year. Meanwhile, first-half sales of 598 aircraft, up from 542 in the first six months of 2022. Demand-wise, going forward dealers anticipate a “significant” uptick for turboprops; a stable market for midsize jets; a slight decrease in large-cabin and ultra-long range jets; and a slight boost in light jet interest.

Pricing for preferred aircraft models with the right pedigree is “reasonably strong,” but overall, averages have resumed their normal depreciation of 7 to 9 percent annually, the report said. That may lead to opportunities for value shoppers in the third quarter, though some dealers predict market activity will “be back to a feverish pace” in the fourth quarter.

Members cited ongoing inventory additions and a normalized buyer/seller balance as signs of the market’s vitality, though geopolitical tensions, supply-chain disruptions, pilot shortages, and the collapse of a few charter operators and fractional programs could negatively impact the preowned market, according to IADA.