The private jet market is growing rapidly and the aircraft industry can’t keep up. Even used jets disappear from the marketplace.

As more businesses go public, the stock market reaches record heights, there has been a boom in wealth, particularly among the already wealthy. According to analysts, many companies that are newly listed buy their first business jets. 

Business jet landings and take-offs in the United States are up by 40% annually. These numbers are at an all-time high since the 2008 financial crisis. This is partly due to the Pandemic that saw big corporations expand private jet privileges for top executives.

However, the market continues to attract individuals.   

“The industry is experiencing a huge demand. “I’ve been in this industry for 23-years, and I have never seen anything similar,” Ian Moore (chief commercial officer at VistaJet) told CNBC.

Because of the growing demand for private aircraft travel, and also the severe global supply chain shortage, many customers now turn to the used aviation market.

Even though the demand for second-hand private planes remains low, it is still a record.

You can watch the video to find out more about the causes of the shortage in private jets.