Business jet departures were up, OEM backlogs grew, and transaction activity was healthy. Following a strong first half, the business jet market is well positioned for the balance of 2026, according to the latest research from Global Jet Capital.

Q2 2026 HIGHLIGHTS

• The global economy remained stable in Q2, with global GDP growing 2.3% during the quarter. Economists expect steady growth through the remainder of the year absent significant external events.

• Business jet departures experienced broad-based growth in H1, rising 3.4% year over year.

• OEM backlogs rose 20.4 percent year over year in Q2 2026, reaching $66.8 billion as new orders for business jets continued to increase.

• Reported transaction activity was lower in H1, apparently reflecting delays in data reporting rather than a material decline in transactions.

• Pre-owned aircraft availability declined in Q2, driven by fewer young aircraft being listed for sale.

• In Q2 2026, average bluebook values increased 2.9% on a year-over-year basis, although variance was observed across segments and models.

The global economy remained stable in Q2 2026 despite geopolitical developments in the Middle East. In Q1 2026, Brent Crude oil prices rose 106.5%, and the U.S. Volatility Index (VIX) increased 68.9%. During Q2 2026, however, Brent Crude oil prices declined 44.6%, and the VIX declined 24.1%, pointing to more stable conditions at the end of the quarter. Furthermore, the broader economic foundation remained firm, with global GDP rising an estimated 2.3% according to Oxford Economics. Economists pointed to a buildout of AI infrastructure as a major catalyst for global economic growth during the quarter.

The global economic outlook remains uncertain, however. As of publication time, hostilities have resumed in the Middle East, disrupting the flow of oil out of the region, and global trade remains disrupted due to the conflict and related trade disputes. Despite this uncertainty, economists expect growth to continue through the second half of 2026. For example, the IMF’s July 2026 World Economic Outlook Report projects global GDP expansion of 3% for the calendar year, while Oxford Economics expects global growth for 2026 to be more modest but still respectable at 2.5%.

With steady economic growth and the wealth creation that accompanies it, the business jet market remains well positioned for continued health through the remainder of 2026.

Flight Operations

Demand for business aviation has grown consistently since mid-2024. In Q2 2026, business jet departures increased 3.2% year over year, with global departures up 3.4% through the first half of the year. North America led global growth, with departures increasing 4.9% year over year. Declines in the Middle East, driven by regional geopolitical events, contributed to a 1% year-over-year decrease in rest of world departures in Q2. Fractional operators remained the leading growth segment, posting solid gains throughout the quarter.

Departures in Q2 2026 increased 8.5% from Q1 2026, in line with historical seasonal patterns as flights ramped up following winter lows in Q1.

This strong performance reflected the consistent expansion of the business aviation user base over the past five years. Supported by the industry’s core value propositions — personal safety, flexibility, productivity, and comfort — and bolstered by continued creation of global wealth, flight operations are expected to remain steady in 2026.

OEM Backlogs

OEM backlogs rose 20.4% year over year in Q2 2026, reaching $66.8 billion. Aggregate Q2 2026 deliveries were nearly even with Q2 2025. Following year-over-year increases in Q1, total first-half deliveries for the five main OEMs increased 4.5% year over year as OEMs continued to address supply chain and labor issues. Even as deliveries remained at a healthy level, strong demand for new business jets persisted. Orders grew in Q2 supported by activity from both fleet operators and private users, resulting in an industry-wide book-to-bill ratio above 1-to-1. With lead times among major manufacturers remaining between 18 and 26 months on average (and even longer for some models), OEMs can sustain current delivery levels throughout the remainder of 2026 while maintaining a healthy backlog.

Transactions

Based on available data, year-to-date Q2 2026 transaction dollar volume decreased by 4.8% compared to the same period in 2025. The downturn follows an active end to 2025, when Q4 transaction dollar volume increased by 19.3% year over year.

Analysis of other data sources, however, including OEM reports and our own field intelligence at Global Jet Capital, indicates that a significant proportion of the decline may be attributable to delays in official data reporting. As additional transactions are reported, we expect 2026 results to move more in line with historical trends.

As reported, new deliveries declined throughout the first half of 2026, with unit volume falling 19.8% and dollar volume decreasing 14.5%. As additional transactions are reported, however, we expect final 2026 new-delivery transaction data to be largely on target. While isolated pockets of supply chain and labor constraints remain an issue, OEM commentary from the quarter reflected continued progress toward resolution.

In Q2 2026, YTD pre-owned transaction unit volume was down 7.5% and dollar volume was up 7% year over year. The divergence between unit volume and dollar volume was attributable to continued stability in aircraft values and strong demand for heavy jets. At the same time, declines in unit volume were driven by reporting delays as well as an unfavorable comparison with an unusually active beginning of 2025. In Q1 2025, pre-owned unit volume increased 37.4% year over year as some buyers accelerated transactions to finalize deals ahead of anticipated U.S. tariff implementation. Without that time pressure, Q1 2026 transaction unit volume declined 18% from Q1 2025. By Q2 2025, market conditions had stabilized, making it a more normal comparison; as a result, transactions increased 3.7% in Q2 2026. That increase was not enough to balance out the full first-half comparison, but it does indicate that demand for business jets has remained healthy. With signs of continued activity, transactions are expected to continue at a steady pace throughout the rest of the year.

The full report can be found here.