JetNet Underscores Aircraft Sales, Launches New Intelligence Platform
From AIN: As new-production business jet deliveries and preowned sales continue to increase, JetNet (Booth X112) has launched its new Business Intelligence (BI) platform to help keep the industry tuned in on what is going on in this market. JetNet BI's graphic visualizations and interactive dashboards provide insight into business aircraft fleet stats, flight activity, values, and JetNet iQ surveys and forecast data, among others, the company said. Its launch this week at EBACE follows a preview of the product at Heli-Expo in February.
The JetNet BI rollout follows the introduction of its revamped JetNet Values program for preowned aircraft that launched in the fourth quarter in partnership with Asset Insight. The updated Values offering is now a single-source asset valuation platform that combines key historical market data and reported sold prices with access to estimated residual value figures produced by Asset Insight’s eValues product.
Meanwhile, JetNet iQ’s latest business aircraft forecast, released last month, sees deliveries this year of 1,100 jets and turboprops, about 6 percent above the 1,034 airplanes shipped in 2021. Demand for new aircraft “remains robust by almost any prior-year standard,” the business aviation data service reported. But despite what it terms “surging OEM backlogs and book-to-bills,” JetNet expects the modest year-over-year growth to continue in the near term, “driven primarily by production and supply chain limitations.”
Among the bottlenecks, JetNet cited “the daily pressures that put stress into workflows and that disrupt smooth production cadence,” along with labor shortages, supply chain pressures, and “cautious management practices,” labeling the latter limitation “appropriate.”
More than 3,600 preowned business jets changed hands last year, according to JetNet, up 30 percent from 2021 and the highest annual total ever recorded by the company. Preowned turboprop sales also climbed 27 percent year-over-year.
The robust transaction pace occurred even as preowned business jet inventory fell 46 percent by the end of 2021, to just 855 aircraft by JetNet’s accounting. At the beginning of last month, preowned inventory totaled just 706 business jets, with less than 8 percent of the inventory being five years old or younger.
In other news, JetNet in December appointed Greg Fell as its first CEO. Fell brings management experience in telecommunications, aviation, and oil and gas to the new position. He also serves as an industrial mentor for Columbia University.
Concurrently, the U.S. company announced it would “immediately embark on a strategic plan to increase its research capabilities, harness the latest in information technology, and develop a BI platform unparalleled in the industry.”