Preowned turbine business aircraft inventories tightened across the board in the first quarter, but business jets shined most brightly, according to the latest data from business aviation research firm JetNet. Across all segments, including helicopters, there were 5,675 aircraft for sale in the quarter, down 10.7 percent, or 680 units, from a year ago. That equates to just 5.4 percent of the in-service fleet on the market.

Notably, the business jet inventory showed the largest year-over-year decrease, shrinking by 350 units, to 2,020, or 9.3 percent of the in-service fleet. In terms of units, that marks the lowest inventory level for business jets at the end of the first quarter since 2008; by percentage, it is the lowest since at least 2005, the earliest year for which JetNet provided data.

Likewise, preowned turboprop inventory also showed a large decrease, falling 0.9 percentage points, to 6.9 percent, at the end of the quarter. That amounts to just 1,051 of the 15,337 in-service turboprops up for sale.

While business jet full-sale transactions fell 3.8 percent, they are taking 16 fewer days to sell versus last year, at 297 days. Business turboprop transactions slid 0.7 percent and are taking more time to sell at 303 days on the market, up 13 days year-over-year.