In the years following the COVID-19 pandemic, the world of private aviation has boomed. During the travel lockdowns of the pandemic, private jets were often the only way to get around, and they were considered much safer as the lack of proximity to others significantly reduced the chance of the virus transmitting. Even when lockdown orders were lifted and commercial aviation did resume (albeit with mask-wearing requirements), private jets were still the preferred mode of transit for many, especially those who valued the health safety that flying private could provide.

While a large segment of the customer market turned towards private jets during the height of the pandemic mostly out of necessity, they eventually chose to continue flying privately out of a newfound preference for the convenience and privacy that private jets offer. Those flying private do not need to wait at the airport hours in advance, and they are not expected to stand in lengthy queues at security. Private jets typically operate in and out of private terminals, where security screenings are minimal and passengers can quickly get straight to their aircraft, which can depart immediately.

There are several other reasons why private jet usage became extremely popular during the COVID-19 pandemic, but all relate to the elevated nature of the private passenger experience. As a result, the demand for private jet flights exploded, with large orders for new private jets being placed by individuals and air charter companies, which have slowly come to form the backbone of the private aviation industry.

In fact, last year, over 760 private jets were delivered to customers by manufacturers, according to Jet Card Comparisons. This demonstrated the second-highest number of deliveries for private jets since 2010. Private aviation is booming, private jet manufacturers are growing, and private jet operations at US airports are becoming more visible than ever. Let's take a deeper look at the private aviation industry and what motivated this increase in deliveries.

A look at industry growth over the past year

Reports from the General Aviation Manufacturers Association (GAMA) confirmed that deliveries of new private jets increased by around 4.7% in 2024, including 764 units that were delivered last year. When including turboprop and piston-powered aircraft, the total number of deliveries increases to more than 3,162 units, a sharp increase from the 3,069 that were recorded the previous year.

The private jet manufacturing industry's total revenues surged from around $23.38 billion to $26.73, with helicopter deliveries accounting for another $4.45 billion in sales. This marked the second consecutive year that more than 4,000 aircraft units were delivered across all general aviation manufacturers. The CEO of GAMA, Pete Bunch, was quick to share his confidence in the industry's rapid growth, stating as follows:

"As we report on the strength of the general aviation manufacturing industry over the past year, it is notable that for the first time in a decade, our companies again exceeded $30 billion in annual billings and for the second year in a row, we shipped more than 4,000 units."

However, there are some challenges that the industry will need to face in the coming six months. Policymakers and regulators in the United States and Europe have strong agendas for 2024, many of which include the implementation of tariffs and other restrictions on the sale of high-tech goods (like private jets). As a result, industry leaders have felt the need to request that regulatory bodies collaborate with them to address tax, trade, regulation, and supply chain-related challenges that may arise throughout the year.

General aviation undoubtedly plays a key role in helping develop more advanced, safer, and more sustainable technologies, all of which have a major impact on commercial passenger aviation. Furthermore, general aviation development is essential in rural areas, especially those which are underserved by commercial airlines.

Bunce and other leaders, however, have been quick to express their concern that policy decisions (especially tariffs) could hinder the markets' continued growth. Bunch himself argues that poor regulatory efforts will hamstring an industry that plays a key role in today's global economy.

So what manufacturers did the best in 2024?

As previously mentioned, 2024 was the second-best year since 2010 for private jets, when there were 767 aircraft delivered. This number does fall far below the 874 deliveries of 2009 and the sky-high 1,317 deliveries in 2008. The companies in this space sold more than 730 jets in 2023, which ranked as the third-highest total ever. Sluggish private jet sales in the 2010s can be attributed to several environmental efforts. In terms of the number of flight hours, 2024 was the third-best year on record, with total private jet flight hours continuing to decline from a peak that was recorded back in 2022.

Each independent Original Equipment Manufacturer (OEM) saw different results throughout the year, with almost all seeing delivery increases this year with a few noteworthy exceptions. For starters, Canadian manufacturer Bombardier saw mild delivery growth in 2024, with aircraft delivery numbers rising to 146 in 2024, increasing from 138 the year prior. The Canadian planemaker offers many different kinds of private jets to customers, including the flagship Global Express series.

US-based private jet manufacturer Gulfstream also saw its delivery figures increase. The company, which is a subsidiary of the larger General Dynamics conglomerate, is best known for its luxurious private jets which offer impressive range and efficiency. Popular Gulfstream models include the G700 and the G650.

Brazilian manufacturer Embraer also had a good year, one which was marked by increases in delivery numbers. Embraer's total deliveries of private jets rose from 115 to 130 between 2023 and 2024. This included 65 different Embraer Phenom 300 series jets, which stood out as one of the airline's most successful models last year. The manufacturer also delivered many Praetor aircraft, including 28 Praetor 500 models and 27 Praetor 600 variants.

One manufacturer actually did not have its best year, despite delivering more aircraft than any other builder of private jets. Textron Aviation, a subsidiary of the greater Textron conglomerate which is headquartered in Providence, Rhode Island, has led the industry in terms of deliveries for three years in a row. The company delivered 151 jets last year, a decrease from 168 deliveries in 2023 and a greater 178 deliveries in 2022.

The industry did have a good year overall

The private aviation sector does continue to grow, and delivery figures have continued to rise alongside increased demand for private jets. Regulatory uncertainty does put the industry in a tricky position at the moment, as manufacturers are concerned about the potential impacts a global trade war could have on them. However, the arrival of Donald Trump for his second term in office likely means that private manufacturers won't be facing any new environmental regulations any time soon.

Although private jet delivery figures do remain lower than the historical highs of the late 2000s, 2024 was still one of the best years on record for private aviation, something which suggests that there remains resilience in the market and strong demand for private jets. Technological advancements have helped reduce private jet operating costs, making them available for more business and personal travelers as we head into 2025.

What is the bottom line on the structure and standing of the private jet market?

According to Fortune Business Insight, a few trends are defining the growth of the private jet market. An increase in demand for flagship aircraft (large private jets) from ultra-high-net-worth individuals is driving the bulk of industry growth. With such a large increase in demand for the most lavish aircraft, companies are pushing to develop more luxurious jets while also enhancing performance-based attributes.