![]() Suborbital flights are currently available in a limited capacity. They concluded that some could experience ‘physiological responses’ but added that these would ‘likely be benign for most passengers’. To make the vision a reality, aviation experts at the UK Civil Aviation Authority (CAA) are hard at work, studying how passengers would cope with suborbital long-haul trips. According to The Times, the CAA has found that most people are able to cope with the G-forces of a suborbital space flight. The flights would enter space for a period of time before descending back into the Earth’s orbit – slashing a good 20 hours of flying time in the process. Thankfully, we might only have to put up with it for another decade before suborbital flights revolutionise our transportation.Īn ambitious plan to fly travellers across the world via space would see the flight time between the UK and Australia drop to a mere two hours. But let's be honest, that’s still not a walk in the park. Qantas recently revealed that it will launch direct flights between London and Sydney in 2025, cutting the journey length to 20 hours. Many think the flight there and back will only be worth the hassle if they manage to spare weeks aside for the trip, which is a hard-to-come-by privilege. We expect prices to level out as supply increases and depreciation normalizes in 2024.”ĭownload Ever Forward, Jetcraft’s 2023 Pre-Owned Business Jet Market Forecast here.Currently, travelling between the UK and Australia requires careful consideration and lots of planning ahead given its near-24-hour length (including a stopover in the middle). This price and segment variation stems from greater demand of popular makes and models, as well as turnkey aircraft, which have always attracted a premium but are especially lucrative at present due to the length of the OEM and maintenance facility backlogs. Jetcraft’s 2023 report also breaks down the nuances found in pre-owned transaction values, explaining why average prices increased more than expected during 2022.Ĭhad Anderson, CEO, Jetcraft adds “Today’s pre-owned jet marketplace is extremely complex, with aircraft segment prices differing widely and overlapping significantly. From 2024, values will stabilise at above $15.4B annually, due to an increase in the total transaction volume, retirement of a significant portion of Light Jets from the under 25-year-old pre-owned fleet, and a higher share of larger jets entering the market.” “First-time business jet owners continue to play a role in market growth, with many, having tested the waters through charter or fractional ownership, purchasing their own aircraft outright. “Existing corporate and individual clients looking to upgrade their aircraft will drive sales volume over the next five years,” continues Fazal-Karim. New entrants to the market, OEM backlogs and the corporate buyer’s return resulted in total annual pre-owned transaction values beyond industry expectations – increasing by 38% in 2022. “Video conferencing technology served a purpose for all of us when the borders were closed, but businesses recognise the value of in-person meetings.” “The return of the corporate buyer proves what we’ve always known: the continued importance of face-to-face interactions in the relationship world of business,” says Jahid Fazal-Karim, Owner and Chairman of the Board, Jetcraft. Jetcraft’s data shows the share of Jetcraft buyers coming from the corporate sector reached 60% in 2022, demonstrating the value corporations place on jet ownership. In 2022, transaction values hit a record $16.3B, driven in part by the resurgence of corporate aviation, following a dip during the pandemic. The return of the corporate buyer has played a key role in driving unprecedented business aviation demand, according to new research from Jetcraft, the global leader in business aircraft sales and acquisitions.Įver Forward, Jetcraft’s 2023 Pre-Owned Business Jet Market Forecast reveals that continued growth is predicted for the years ahead, despite an inevitable market correction in 2023, setting new annual benchmarks for volume and value.
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