Used Aircraft Market Research Report By Aircraft Type (Commercial Airliners, Corporate Jets, Turboprops, Helicopters, General Aviation Aircraft), By Age (0-5 years, 6-10 years, 11-15 years, 16-20 years, 20+ years), By Condition (Excellent, Good, Fair, Poor), By Mission Type (Passenger, Cargo, Special Mission, Training, Other), By Disposition Method (Direct Sale, Lease Return, Aircraft Broker, Online Marketplace, Trade-In) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032.

Used Aircraft Market Overview

Used Aircraft Market Size was estimated at 30.6 (USD Billion) in 2022. The Used Aircraft Market Industry is expected to grow from 32.73(USD Billion) in 2023 to 60.0 (USD Billion) by 2032. The Used Aircraft Market CAGR (growth rate) is expected to be around 6.97% during the forecast period (2024 - 2032).

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Key Used Aircraft Market Trends HighlightedThe used aircraft market is primarily driven by factors such as increasing travel demand, aging fleet of airlines, and reduced production of new aircraft due to supply chain disruptions. Cost savings, environmental sustainability, and the need for flexibility in fleet management are also driving the demand for used aircraft.Opportunities exist in exploring niche markets for specific aircraft types or models, such as regional jets and narrow-body aircraft. The growth of low-cost carriers and the expansion of routes present further revenue streams for used aircraft suppliers. Additionally, advancements in technology and maintenance practices are enhancing the value proposition of used aircraft.Recent trends indicate a significant rise in demand for used aircraft as airlines seek to optimize their fleets amidst uncertain economic conditions. The average age of aircraft in service is increasing, and airlines are turning to the used market for cost-efficient solutions. The availability of well-maintained used aircraft is expected to continue driving the market's growth in the coming years. Furthermore, the introduction of new technologies, such as digital twins and predictive analytics, is revolutionizing the maintenance and operation of used aircraft, leading to increased efficiency and reliability.

Used Aircraft Market Drivers

Increasing Demand for Low-Cost Air Travel

One of the Used Aircraft Market Industry growth drivers is the increased popularity of low-cost carriers in the aviation market. Low-cost carriers mainly function on the principle of low costs, and the operation of older aircraft that are more fuel-efficient. With such a business model used aircraft gain more attraction in the market because LCCs want to keep their operational costs as low as possible, they tend to purchase used aircrafts to extend their fleets and obtain used aircraft for the available offer.Moreover, the LCCs start to fly in new directions, including emerging economies and developing countries, and in this regard, used aircraft become attractive to the market as a cost-effective solution for new airlines and airplanes in general. Not least is the demand for a cheaper transportation option, and it is expected that it will continue to grow in the future, thus promoting the growth of the Used Aircraft Market Industry.

Growth of Emerging Markets

The rapid growth of aviation markets in emerging economies is another key driver of the Used Aircraft Market Industry. As economies develop and disposable incomes rise, there is an increasing demand for air travel in these regions. However, many emerging markets lack the infrastructure and resources to support the purchase of new aircraft. As a result, airlines in these regions are turning to the used aircraft market to acquire affordable and reliable aircraft to meet the growing demand for air travel.The availability of used aircraft from developed markets, combined with the favorable regulatory environment and government initiatives in emerging markets, is contributing to the growth of the used aircraft market in these regions.

Technological Advancements

Technological advancements in the aviation industry are also having a positive impact on the Used Aircraft Market Industry. The development of more fuel-efficient and technologically advanced aircraft has led to a decrease in the operating costs of older aircraft. This has made used aircraft a more attractive option for airlines, as they can acquire older aircraft at a lower cost and still benefit from the advancements in technology. Additionally, the introduction of new technologies, such as predictive maintenance and data analytics, is enabling airlines to better maintain and utilize used aircraft, further extending their lifespan and contributing to the growth of the used aircraft market.

Used Aircraft Market Segment Insights

Used Aircraft Market Aircraft Type Insights

The Used Aircraft Market is segmented by aircraft type. Based on aircraft type, the market is bifurcated into commercial airliners, corporate jets, turboprops, helicopters, and general aviation aircraft. Overview of each segment is as follows Commercial airliners segment is poised to grow at the fastest rate in 2024. The segment is projected to reach USD 18.54 billion over the years due to increasing demand for the used airliners from low-cost carriers and regional airlines. The corporate jets segment is expected to grow at a CAGR of 5.3% during the forecast period and is projected to reach a value of USD 12.63 billion by 2024.Growth of the segment is attributed to the increasing preferences from business enterprises and high net worth individuals. The turboprops segment is likely to grow at a CAGR of 4.8% during the forecast period, reaching a value of USD 9.42 billion in 2024. The growth of the segment can be attributed to the increasing demand for the airframes among regional airlines and cargo operators. The Helicopters segment is expected to grow at a CAGR of 4.5% during the forecast period, reaching the value of USD 7.31 billion in 2024. Increasing demand for the airframe from law enforcement, emergency medical services, and corporate customers is likely to drive the growth of the segment.The general aviation aircraft segment is projected to grow at a CAGR of 4.2% during the forecast period, reaching a value of USD 6.1 billion in 2024.raq Overall, the Used Aircraft Market is expected to grow at a CAGR of 5.1% during the forecast period, reaching a market value of USD 54.0 billion in 2024

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

The age of used aircraft is a key segmentation factor in the Used Aircraft Market. Aircraft aged 0-5 years are in high demand due to their relatively low operating costs and high resale value. This segment is expected to account for a significant share of the market in the coming years. Aircraft aged 6-10 years are also popular, as they offer a balance between operating costs and resale value. Aircraft aged 11-15 years are typically less expensive to purchase, but they may require more maintenance and have a lower resale value. Aircraft aged 16-20 years are often used for cargo or charter operations, and they can be purchased at a relatively low cost.Aircraft aged 20+ years are typically used for parts or scrapped, as they are no longer economical to operate.

Used Aircraft Market Condition Insights

The condition segment of the Used Aircraft Market plays a crucial role in determining the value and demand for used aircraft. The segment is categorized into four primary conditions Excellent, Good, Fair, and Poor. Aircraft in Excellent condition is highly sought after, as they have undergone rigorous maintenance and have minimal wear and tear. This segment typically commands a premium price due to its reliability and low operating costs. Aircraft in Good condition is also in high demand, as they offer a balance between quality and affordability.They have been well-maintained but may have some minor cosmetic or mechanical issues. Fair condition aircraft are typically older and have accumulated more flight hours, resulting in a lower market value. However, they may still be suitable for certain operations or as spare parts sources. Aircraft in Poor condition is generally not operational and are often sold for scrap or used for training purposes. The Used Aircraft Market revenue for the Excellent condition segment is expected to reach $12.5 billion by 2024, while the good condition segment is projected to generate $9.7 billion.The Fair and Poor condition segments are estimated to account for $5.2 billion and $2.6 billion, respectively.

Used Aircraft Market Mission Type Insights

The Used Aircraft Market segmentation by Mission Type includes Passenger, Cargo, Special Mission, Training, and Other. The Passenger segment is expected to hold the largest market share during the forecast period due to the increasing demand for air travel and the growing number of budget airlines. The Cargo segment is also expected to witness significant growth due to the rising demand for air cargo transportation. The Special Mission segment is expected to grow at a steady pace due to the increasing demand for aircraft for military and government purposes.The Training segment is also expected to witness growth due to the increasing number of pilots and cabin crew being trained. The Other segment includes aircraft used for various purposes such as aerial photography, crop dusting, and firefighting.

Used Aircraft Market Disposition Method Insights

The Disposition Method segment plays a crucial role in the Used Aircraft Market, influencing market growth and dynamics. Direct Sale involves the sale of an aircraft directly from the owner to the buyer, offering a faster and more flexible transaction process. Lease Return refers to aircraft returned to lessors at the end of lease agreements, contributing significantly to the market. Aircraft Brokers facilitate transactions between buyers and sellers, providing expertise and market insights. Online Marketplaces enable digital platforms for aircraft trading, increasing accessibility and transparency.Trade-Ins involve exchanging an old aircraft for a newer or different model, simplifying the acquisition process for buyers. The market segmentation provides valuable insights into the industry, enabling stakeholders to make informed decisions and capitalize on growth opportunities.

Used Aircraft Market Regional Insights

The regional segmentation of the Used Aircraft Market offers insights into the market's geographic distribution and growth patterns. North America, Europe, Asia-Pacific (APAC), South America, and the Middle East Africa (MEA) are the key regions analyzed in the market study. North America held the largest market share in 2023, accounting for approximately 36.5% of the Used Aircraft Market revenue and is projected to maintain its dominance throughout the forecast period. Europe held the second-largest share in 2023, with a market size of around USD 10.23 billion.The APAC region is anticipated to witness the highest growth rate during the forecast period, owing to the increasing demand for used aircraft from emerging economies such as India and China. South America and MEA are expected to contribute significantly to the overall market growth, driven by factors such as expanding regional airlines and growing tourism.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Used Aircraft Market Key Players and Competitive Insights

Major players in the Used Aircraft Market are constantly striving to gain a competitive edge in the industry. Leading Used Aircraft Market players are investing heavily in research and development to introduce innovative products and services that cater to the evolving needs of customers. The Used Aircraft Market industry is also witnessing a trend towards consolidation, with larger players acquiring smaller companies to expand their market share and enhance their product portfolio. This competitive landscape is expected to drive Used Aircraft Market development and shape the future of the industry.Textron Aviation is a leading player in the Used Aircraft Market. The company offers a wide range of used aircraft, including turboprops, jets, and helicopters. Textron Aviation also provides a variety of services, such as maintenance, repair, and overhaul (MRO), to support its customers. The company has a presence and a strong reputation for quality and reliability.Another major player in the Used Aircraft Market is Jet Aviation. The company offers a comprehensive range of used aircraft, including business jets, regional jets, and commercial aircraft. Jet Aviation also provides a full suite of services, including aircraft management, charter, and MRO. The company has a network of FBOs and maintenance facilities, which allows it to provide its customers with a seamless experience.

Key Companies in the Used Aircraft Market Include

• Apollo Jets


• Airtrade International


• Jet Capital


• Luxaviation


• Flight Options


• Falcon Aviation Services


• Boeing


• Bombardier Aerospace


• Embraer


• Jet Aviation


• B/E Aerospace


• An Aircraft Sales


• Pilatus Aircraft


• Air Culinaire Worldwide


• Avflight

Used Aircraft Market Industry Developments

The used aircraft market is poised for steady growth, driven by increasing demand for cost-effective and sustainable air travel. In 2023, the market was valued at USD 32.73 billion and is projected to reach USD 60.0 billion by 2032, exhibiting a CAGR of 6.97%. Key factors fueling this growth include rising air passenger traffic, fleet expansion by low-cost carriers, and technological advancements in aircraft design and maintenance.Recent developments in the market include the entry of new players, such as Jetran and Abelag Aviation, and the expansion of existing players, such as Air Lease Corporation and Avolon. These companies are investing in new aircraft acquisitions and remarketing services to cater to the growing demand for used aircraft. Additionally, the increasing adoption of digital platforms for aircraft transactions is streamlining the buying and selling process, making it more efficient and transparent.

Used Aircraft Market Segmentation Insights

Used Aircraft Market Aircraft Type Outlook

• Commercial Airliners


• Corporate Jets


• Turboprops


• Helicopters


• General Aviation Aircraft

Used Aircraft Market Age Outlook

• 0-5 years


• 6-10 years


• 11-15 years


• 16-20 years


• 20+ years

Used Aircraft Market Condition Outlook

• Excellent


• Good


• Fair


• Poor

Used Aircraft Market Mission Type Outlook

• Passenger


• Cargo


• Special Mission


• Training


• Other

Used Aircraft Market Disposition Method Outlook

• Direct Sale


• Lease Return


• Aircraft Broker


• Online Marketplace


• Trade-In

Used Aircraft Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa

Used Aircraft Market Report Scope