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In 2023, the preowned single-engine helicopter market conditions continued to slow down but the Aero Asset report says conditions remained strong. The 2023 helicopter market saw fewer preowned deals but increased supply. The retail sales volume decreased 50 percent compared to 2022, marking the lowest level in three years. The supply for sale finished 30 percent higher year over year. The absorption rate dropped YOY but was still a reasonable one-year supply at the current trade levels. The pricing for preowned copters remained strong. The average asking price increased four percent YOY, even with the drop in retail sales. Average transactions increased 13 percent YOY but the average days on the market dropped by six percent YOY. North America saw a great demand for singles, with North American retail buyers making up 60 percent of transactions while Latin American and Asia-Pacific buyers represented just a quarter. While retail transactions were looking up elsewhere, Europe dropped 70 percent YOY. The supply in Europe is 36 percent higher than the 22 percent in North America. In 2023, the most liquid preowned market was for the Bell 407/GX/P/I, followed by the Airbus AS350 B3/B3e/H125, and the Leonardo AW119K/Ke/Kx. The least liquid preowned market in 2023 was the Airbus EC 130 B4 / H130, with an absorption rate of 2.8 years.
Overall retail sales in 2023 were an estimated $248 million, down 40 percent, with a 50 percent overall decrease in units sold on and off the market with 120. Broken down, this includes 69 VIPs for $154 million and a 50 percent reduction, 38 utility for $70 million with a 20 percent reduction and 13 EMS for $24 million with a 70 percent reduction compared to 2022. Compared to 2022, the absorption rate for VIP was up eight months with 13 months, utility was up five months with 11 months, EMS was up four months with five months and overall was up seven months with a one-year absorption rate. Compared to units for sale on the market in Q4 2022, there were 75 VIPs for $194 million with a 27 percent increase, 35 utility for $85 million with a 50 percent increase, six EMS for $11 million with no change from Q4 2022 and a 30 percent increase overall with 116 on the market for a 35 percent increase at $290 million.
From 2021, supply saw a dip in 2022 but an increase in 2023. Retail sales jumped slightly in 2022 but have since stopped below the 2021 number. While the absorption rate from 2021 dropped in 2022, it shot back up in 2023 and could continue to rise in 2024.