At John Bell Aircraft, we’ve observed that Memorial Day typically sparks a surge in aviation activity, from football and tailgate parties to aircraft sales. However, 2025 is shaping up differently as the pre-owned aircraft market grapples with rising inventory and economic uncertainty.
Market Dynamics
Growing inventories in homes, boats, and heavy equipment signal a cautious market, and aviation is no exception. Buyers are adopting a wait-and-see approach amid economic and trade uncertainties. Tariffs on new aircraft production are driving up prices, pushing demand toward pre-owned models and creating opportunities for savvy buyers in specific segments.
VREF Market Trends: Business Jets
The used business jet market is expanding, with over 1,150 jets currently for sale—a 7% increase year-over-year, though slightly down from December 2024. Key insights include:
- Newer jets (<7 years old): Inventory up 12% year-over-year.
- Midsize jets: Leading the surge with a 15% inventory increase.
- Light jets: Up 9%.
- Heavy jets: Down 3%, except for the G550 platform.
- Pricing: Adjusting downward across most models, with G600s as a notable exception.
Stable quarter-to-quarter values in select models offer a silver lining in an otherwise softening market.
VREF Market Trends: Turboprops
Turboprop trends are mixed:
- King Airs: Stable values, but tightening inventory limits options for models like the 350, B200, 200, and C90.
- Softer Markets: M350, Jetprop, Meridian, and Malibu are seeing declining values.
- Stable Markets: TBM and PC-12 remain unchanged, though tariffs may impact future trends.
- Market Stagnation: Nearly 900 business jets and over 400 turboprops have lingered on the market for over 180 days. Turbine sales are down, with only 3,800 closings in 2025 compared to 4,194 in the same period last year. Since January 1, 2025, 1,737 aircraft have been listed for sale.
VREF Market Trends: Pistons
Piston sales, typically robust in spring, have been sluggish. Tariffs, trade uncertainties, and supply chain concerns for parts from overseas vendors have dampened buyer enthusiasm. Financing challenges—higher down payments, elevated interest rates, and stricter underwriting—are further complicating sales, particularly for aircraft priced above $500,000.
The trainer market remains a bright spot, with strong demand for G1000-equipped Cessna 172s. However:
- Cirrus SR22 G7 (non-Autoland): Values have dropped sharply due to a midyear announcement and high inventory (nearly 200 Turbo and Non-Turbo units for sale).
- Diamond DA50: Premiums have turned to discounts, reflecting waning interest.
A Market Ripe with Opportunity
The VREF report highlights a challenging yet opportunity-rich market. New aircraft orders dropped significantly in April 2025 due to tariffs and economic uncertainty, creating a buyer’s market in select segments. High inventory, selective buyers, and tight financing present hurdles, but they also open doors.
For Buyers: Now is a prime time to acquire high-quality pre-owned aircraft at corrected values— potentially the best pricing environment for the next 18 months. Acting swiftly, especially with tax benefits in play, could position you ahead of the curve as the market stabilizes.
For Sellers: To move your aircraft, ensure records are meticulous and work with a professional who understands current market dynamics and realistic pricing. At John Bell Aircraft, we’re here to guide you through this turbulent market. Contact us to seize opportunities or strategically position your aircraft for sale.
