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Global Jet Capital has released its business aviation market brief for 2025's fourth quarter. The company states market fundamentals remained strong, including usage, transaction activity and aircraft availability.
Global economic growth slowed to 2.5% in Q4 2025 compared to the first three quarter's 3%. Growth was still better than expected earlier in the year due to uncertainty following the White House's announcement of new tariffs on several major U.S. trading partners. Quarter four was relatively stable as inflation moderated in both the U.S. and internationally.
Annual flight operations grew 3.8% and activity rose 4.6% year over year for business jets. Growth was broad-based, with departures increasing 4.3 percent in North America and 5.4 percent in the rest of the world compared to Q4 2024. 2025 is the new peak for departures, as total flight operations ended the year 3% overall compared to 2022, which was the previous peak.
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OEM backlogs rose to $53.6 billion in Q4 2025, an increase of 10.4% year over year. Lead times have remained between 18 and 24 months and book-to-bill ratios were reportedly strong even as deliveries and revenue increased. New delivery dollar volume rose 6.1 percent year over year, despite early reports of decline. Pre-owned aircraft deliveries increased by 17.8% in Q4 and 13.5% for all of 2025.
Aircraft listings declined by 5.8% in 2025, with Q4 also declining by 5.6% year over year. aircraft that are 13 years or older account for 69.6% of listing with the remaining 30.4% being aircraft that are 12 years or younger.