OEM backlogs rose 12.1% year over year in Q3 2025, reaching $51.1 billion. During the quarter, manufacturers continued addressing supply chain and labor constraints while delivery growth remained steady. Revenue increased as manufacturers retained pricing power and, in some cases, expanded deliveries. Strong demand also drove higher order volumes, resulting in a book-to-bill ratio above 1-to-1. Lead times among major manufacturers remained between 18 and 24 months, allowing OEMs to sustain current delivery levels while maintaining a healthy backlog.

 

 

Year to date, overall transaction dollar volume increased 12.2% compared to the same period in 2024. After a 0.7% year-over-year decline in Q2 2025, activity rebounded strongly in Q3 2025, growing 16.3% compared to Q3 2024. Growth in business jet transaction dollar volume was split evenly between new deliveries and pre-owned transactions, reflecting the market’s overall stability and health in 2025.

Following a large jump in 2024, new deliveries grew at more moderate rates in the first nine months of 2025. OEMs continued to address supply chain disruptions and labor shortages, which limited their ability to significantly increase production. As a result, new unit volume rose 1.2% year to date. The share of OEM deliveries that were heavy aircraft have increased in 2025, however, resulting in a 12.1% increase in the total dollar volume of new aircraft deliveries compared to the same period in 2024.

The pre-owned market also performed well in 2025 through the third quarter, expanding 9.4 percent in Q3 2025 and 11.1 percent year to date. Growth was especially strong among younger aircraft, with transactions involving models 12 years old and newer increasing 22% in Q3 2025. Momentum in the pre-owned market has remained steady since late 2024, underscoring the continued demand for business jets. Strong market activity is expected to extend into Q4 2025 as buyers upgrade their fleets and new bonus depreciation incentives encourage additional purchases.

 

 

In Q3 2025, aircraft availability rose slightly, increasing from 7.3% of the total fleet in Q2 2025 to 7.6%. Despite this sequential increase, availability declined from 7.8% in Q3 2024 and remained below the long-term average of roughly 10 percent. Low availability was driven by declining listings and sustained strength in the pre-owned market through late 2024 and 2025. This period of stability followed a stretch of rising availability as more aircraft became publicly listed throughout 2023 and 2024.

Availability of aircraft 12 years and younger was lower than that of older models in Q3 2025, standing at 5.1% of the fleet compared with 5.6% in Q3 2024. In contrast, availability for aircraft aged 13 years and older was 8.9%, a slight decline from 9% a year earlier.

Overall, the relationship between supply and market activity is expected to remain balanced for the foreseeable future, with steady listings and availability continuing to track below historical averages.