Who should buy an airplane?
It is no mystery that aviation has been used by a wide range of companies and individuals all whom have a specific needs. There are many cases where the standard commercial flight just no longer fits your schedule or desire for privacy and quality in service.
Even after one goes from flying commercial to starting to book charter flights there are still so many restrictions to when you can fly and if the airplane is available. In many cases the best suitable option is for there to be partial or complete ownership of the airplane that you use.
Individuals and corporations who choose to purchase their own airplane can now maximize their utilization on the airplane unlike ever before. With the ability to make customizations and upgrades on their own accord. Being able to operate the airplane whenever necessary and without having to have extended periods of waiting comes also with the responsibility of maintenance and crew resource management depending on the type of aircraft that was purchase.
In the recent decades the market for general aviation has increase dramatically as more and more people are starting to take notice of the incredible benefits that come with being able to manage your own time on your own schedule.
Some common airplane owners include:
Entrepreneurs have been using private aviation for many years now. With social media and the internet making becoming an entrepreneur not only more accessible but also more popular there is a exponential increase in individuals becoming entrepreneurs. Many of these entrepreneurs use their wealth to then attract others to use their products. Flying privately has been known as one of the symbols of the wealthy class. As so many entrepreneurs are looking to not only fly private but even own their own place entirely.
Real Estate companies that cover large regions and often need to travel to visit many properties in a single week use private aviation to maximize their time visiting locations. Being restricted to the schedule of others can result in hours of wasted time in the process. Companies need to be able to maximize the time of their while traveling as well by having space where they can work in private and comfort.
Start-ups have been known to use private aviation in the early years as there may be a lot of travelling with vendors and suppliers in the early stages of development. Business aviation is necessary for the executives to be able to fly within a moments notice to attend to business opportunities or matters which require attention. When flying to pick up investors to come and visit your new facility some companies use the company airplane to pick up the guest to bring them to their facility. This certainly creates an unique experience for your client and shows the value you have of them.
Established Companies have had a long history of using business aviation. In an article produced by the National Business Aviation Association, they stated that companies that utilized the benefits of business aviation outperformed non-aviation users in several financial metrics. With about 15,000 total business aircraft registered in the U.S., only about 3% of that are flown by Fortune 500 companies. The other 97% is a range of organizations, governments, universities, charities, and other businesses ranging from small, medium and large.
Just about Anyone can pick up an interest in aviation from maybe spending some time around a local airport or having a close family member who owns an airplane. Those who embark on their first discovery flight often fall for the thrill and excitement of flying and make it a goal to get their own license. Some individuals who start a career as a commercial pilot may choose to switch career paths choosing to buy their own plane to fly with friends on the weekends to go play golf. Being able to take a quick weekend getaway on your own accord is a freedom that many people of all walks of life take on for the pure enjoyment of flying and being part of a global community of pilots and airplane owners.
What is Business Aviation?
Business aviation is a general term that the industry describes as using a General Aviation Aircraft for business purposes. Flying to primarily to smaller airports and visiting the private Fixed-based Operators (FBO) for services during their stop. Business aviation helps individuals remain safe and secure while also operating on their own schedule.
Business aviation reaches 10 times more airports in the U.S. than the commercial airliners are able to offer. U.S. airlines only fly to roughly 70 major airports located around the nation leaving many locations unserved to scheduled operations. Often times individuals traveling business aviation work for factories or facilities which require time-sensitive equipment.
Depending on if the equipment is approved by TSA for commercial flight it may not be allowed on a commercial airliner, in the cabin or the belly. Depending on the owner and opeartions of the airplane, some may be used to carry tools or material that require urgent delivery. Hospitals have been known to use private aviation to transport organs to make it in time to the surgery which could be multiple states away.
What kind of plane should you buy?
You are ready for the next step now! You have decided that buying an airplane is the next best step for you or your company moving forward. Now the next questions probably rattling through your head is “what kind of plane should you buy?” Now I know you are probably thinking that a Gulfstream 550 is going to be the best for you and your company because you enjoy the luxury. Which you are correct Gulfstream is known for their luxurious cabins and exquisite features. They are also known for having a price tag to match.
Here is a brief overview of some of the most popular aircraft types that are currently on the market today.
Our Favorite Airplanes
Seats: 4 – 9
Range: 1,200 – 6,000 NM
Seats: 4 – 9
Range: 800 – 2,000 NM
Cost: $150K – $4M
Seats: 1 – 8
Range: 400 – 1,200 NM
Cost: $45K – $500K
Finding the right fit
Part of understanding what is going to be a great fit for you is answering some basic questions to learn more the airplanes mission. Figuring out who is going to be flying the plane. Who is going to be a passenger in the airplane if there is going to be any. Then also determining how often the plane will be used and how far you intent to fly it are all logical questions to ask yourself before embarking on this journey of purchasing an airplane.
As we start to get a better understanding of how this airplane will be used, who is going to be flying, and who is going to be paying for it all then we can start to look into the more specifics of what kind of plane is going to be best. Is a long range high speed jet required with at minimum of 8 seats? Can a turboprop with only 7 seats and a range of 1,200 NM be appropriate for the long term? Is there only a need for a small piston engine because the owner of the airplane also has intentions on being the pilot and being the only individual in the airplane.
It’s important that as you start to build a drive for owning an airplane you have a complete understanding of the many possibilities before hand. This can help save time and money in the future and save you from potentially learning you may need a different airplane a few months down the road. Part of how we help at Air Market Group is by providing assisting in this process. We walk you through step by step and help answer questions and guide you through finding the perfect airplane for you. There is no need for you to walk this path alone.
Where to buy an airplane?
The internet has expanded the global market for aviation making it more expansive than ever before. Navigating the market can be time consuming as there are more specific factors to consider as compared to when purchasing a car. An airplane is a very expensive piece of equipment. Some airplane require specific training prior to being able to operate. Other airplane are designed in a manner that require a different set style of flying. There are many variations and models of the same aircraft finding the right one can be challenging. Many airplane are listed on marketplaces that rewards the company with the biggest marketing budget.
One could purchase directly through the airplane manufactuere if they are willing to pay the premium that comes with buying a brand new airplane. This allows individuals some extra flexibility sometimes with design and equipment upgrades that can be made available directly from the OEM.
Searching through the classified can take a great deal of time and knowing your way around the airplane market. Many companies and individuals use aircraft brokers to conduct the market research on their behalf. Aircraft brokers know how to navigate the market smoothly to find the appropriate airplane for their customer.
They are able to help answer questions and walk you through the process of you purchasing your airplane. Many first time buyers enjoy using the resources and aid of a broker. Should the broker maintain a great relationship with that buyer, they often keep their contact details handy for when the time comes that the person decide to upgrade.
Buying an airplane can also be done directly here on AirMarketGroup.com. Your source for finding and selling airplanes. We use our passion for aviation to market aircraft the right way. Find your passion in the sky.
Sell your airplane, with Air Market Group.
We use our passion for aviation to market aircraft the right way.
Air Market is a one-stop shop where you can find your dream aircraft. View our listings and discover the aircraft of your dreams. If we don’t have it, we will find it for you!
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