What Happened
Growing Demand For Affordable Aircraft Drives Market Expansion
The used aircraft market is experiencing steady growth, driven by increasing demand for affordable aircraft options and efforts to expand or modernize fleets efficiently. The market is projected to reach $46.06 billion by 2030, with a compound annual growth rate (CAGR) of 7.1%. This growth is largely due to the rising acceptance of pre-owned planes by budget-conscious operators and the growing need for rapid fleet growth. According to The Business Research Company, the market’s expansion is also fueled by the increase in air passenger traffic, with the Asia-Pacific region forecasted to experience the fastest growth during the coming years.