Market Intelligence · FLYING Finance

Aircraft Finance
Market Update

Quarterly analysis of aircraft financing rates, GAMA shipment data, FAA registry trends, and economic indicators: what is actually happening in the market and what it means for buyers right now.

6.81%

Piston starting rate

405

Q2 2026 piston shipments

$35.7B

2025 GA billings

174,155

Active private pilots (2025)

194

Days to bonus dep deadline

Content refreshed monthly via live data feeds · GAMA Q2 2026 data live · Next full quarterly refresh after GAMA Q3 (November 2026)

Certified pistonfrom 6.81%5yr base · fixed · 20yr

LSA / MOSAICfrom 7.33%5yr base · fixed · 15yr

Turboprop / Jetfrom 6.70%5yr base · fixed · 20yr

EAB / Kitplanefrom 7.40%5yr base · fixed · 15yr

5-yr Treasury4.25%Piston base · 52wk: 3.62–4.89

Fed Funds4.50%Cut cycle stalled

SOFR4.31%52wk: 4.30–5.31

Prime Rate6.75%WSJ Prime

10-yr Treasury4.42%52wk: 3.98–4.79

WTI Crude$7452wk: $62–$87

Bonus dep deadline47 daysDecember 31, 2026

Certified pistonfrom 6.81%5yr base · fixed · 20yr

LSA / MOSAICfrom 7.33%5yr base · fixed · 15yr

Turboprop / Jetfrom 6.70%5yr base · fixed · 20yr

EAB / Kitplanefrom 7.40%5yr base · fixed · 15yr

5-yr Treasury4.25%Piston base · 52wk: 3.62–4.89

Fed Funds4.50%Cut cycle stalled

SOFR4.31%52wk: 4.30–5.31

Prime Rate6.75%WSJ Prime

10-yr Treasury4.42%52wk: 3.98–4.79

WTI Crude$7452wk: $62–$87

Bonus dep deadline47 daysDecember 31, 2026

Not a Blog Post. A Data Desk.

Three proprietary indices, built because no one else was tracking this

Most aviation market data is dealer-reported, appraisal-scoped, or jet-only. We built our own instead, sourced from primary data (FRED, the FAA registry, our own closed loans) and refreshed on a real schedule, not a press-release cycle.

Index 01

Aircraft Lending Index

Live financing rates by category, indexed to the 5-year Treasury and refreshed automatically, not a rate card someone forgot to update.

Index 02

Closed & Funded Ledger

Real deal volume: transactions, states, and dollar volume from loans we've actually closed, not a survey panel.

Index 03

National Piston Aircraft Transaction Index

Sourced directly from FAA Bill-of-Sale filings. Every other tracker in this space covers jets. This is the only one built for piston.

Featured Analysis

MarketIndustryQ2 2026

The Market Doesn't Want What It Used to Want

GAMA's Q2 2026 data shows the industry shipping more premium metal to a buyer increasingly insulated from rates, while the piston buyer gets squeezed on price: new prices keep rising and used values are holding steady, so the bargain buyer has nowhere to go.

Tripp Thurston · September 4, 2026 · 13 min read

Read the full analysis

Market Coverage

Market commentary

MarketIndustry

The Market Doesn't Want What It Used to Want

Tripp ThurstonSeptember 4, 2026 · 13 min

EconomyRates

We Said Rates Would Pause, Then Chase Inflation. The Chase Has Started.

Chair Warsh's Jackson Hole remarks confirm what the calendar already implied: the pause is over and the Fed is chasing inflation again.

Tripp ThurstonSeptember 4, 2026 · 13 min

AffordabilityIndustry

MOSAIC Was Supposed to Fix This

Premiumization and a rising-rate environment are squeezing the piston buyer just as MOSAIC was supposed to make entry-level aircraft cheaper. Here's where the real affordability still exists.

Tripp ThurstonSeptember 4, 2026 · 13 min

IndustryQ2 2026

GAMA Q1 2026: Piston Aircraft Market Surges

381 piston aircraft of 667 total civil shipments. The data behind the breakout and what it means for used market values and financing.

Tripp ThurstonJune 3, 2026 · 7 min

MarketEconomy

The Altitude and the Amplitude: Premiumization is Here to Stay

How premiumization of luxury assets is reshaping the financing landscape and how to position for it.

Tripp ThurstonMay 14, 2026 · 6 min

Market2025

Aircraft Finance Market Update: 2025

Full-year look at 2025 financing conditions, rate environment, and the market forces that set up 2026.

Keller Lasseter2025

What Actually Drives This

Aircraft Demand vs. the Macro Factors 1994 to 2025

Toggle any factor on or off, switch between indexed level and year-over-year percent change, and narrow the years shown. Piston, turboprop, and jet buyers are driven by genuinely different things. See which lines actually move together. This is correlation across 31 years of annual data, not proof of causation; read it directionally.

From To

Source: GAMA (shipments) · EIA (gas price) · BLS (CPI, PPI) · FRED / Federal Reserve (S&P 500, 5yr Treasury, Fed funds, corporate profits, household net worth, housing starts) · FLYING Finance analysis, 1994–2025 annual panel.

Market Conditions · Q4 2026

Buyer vs. seller market by category

Certified Piston

Slight seller's market

BuyerSeller

Clean, late-model airplanes still sell quickly and hold their price. Buyers have more room on older airframes that need avionics or engine work. Prices on the airplanes we finance have held steady all year.

Updated Q4 2026

Turboprop

Neutral

BuyerSeller

AMSTAT shows the typical turboprop sold for about 8% less than a year earlier, and values have been flat since the first quarter. Newer airplanes in good condition still trade quickly; older ones are where buyers can negotiate.

Updated Q4 2026

LSA / MOSAIC

Buyer's market

BuyerSeller

MOSAIC certification rules took full effect July 24. New, more capable light sport designs are starting to reach the market, and legacy LSA pricing remains soft while buyers weigh the new options.

Updated Q4 2026

GAMA Shipment Data

General aviation shipments by quarter

Civil Aircraft Shipments, 2023 through Q2 2026

Source: GAMA · gama.aero · Updated quarterly (Feb/May/Aug/Nov)

Q2 2026 Manufacturer Deliveries

Top manufacturers by category

Piston Aircraft

Q2 2026: 405 total worldwide

Manufacturer	Key Models	Q2 2026
Cirrus Aircraft	SR20, SR22, SR22T, SF50	209
Textron Aviation	172S, 182T, T206H, Baron	177†
Piper Aircraft	Archer, Seminole, M350	64
TECNAM	P2008JC, P-Mentor, P2010	48*
Diamond Aircraft	DA20, DA40, DA42, DA62	38

*Includes LSA/ASTM models. †Textron piston only. Source: GAMA Q2 2026.

Turbine Aircraft

Q2 2026: 386 total worldwide

Manufacturer	Key Models	Q2 2026
Gulfstream	G280, G500/600/700/800	41
Textron Aviation	King Air, Citations, Caravan	177†
Bombardier	Challenger 350/3500/650, Global	32
Embraer	Phenom 300E, Praetor 500/600	45
Pilatus	PC-12, PC-24	37

†Textron combined piston + turbine total across all categories. Source: GAMA Q2 2026.

Q2 2026 deliveries by manufacturer Select a manufacturer

CE-172S Skyhawk SP

Grand Caravan EX

CE-182T Skylane

CE-T182 Turbo Skylane

CE-T206H Turbo Stationair

Pipistrel 121A Explorer

Pipistrel AT162A Alpha

Pipistrel Velis Electro

PA-28-181 Archer / Pilot 100i

M700 FURY (turboprop)

PA-44-180 Seminole

PA-46-350P M350

PA-46-500TP M500

PA-46-600TP M600/SLS

DA62 twin

DA40 (all variants)

DA20 (all)

DA42 (all variants)

DA50 RG

TBM 980 (new 2026)

Kodiak 100

Kodiak 900

TBM 960

Tecnam (all models)

CubCrafters

Extra Aircraft

Game Aerospace

Elixir Aircraft

Closed & Funded

45 states. Aircraft loans closed coast to coast.

See every state where FLYING Finance has closed aircraft loans, by transaction count, loan volume and aircraft category.

405Transactions

$115M+Volume

45States

View the map →

Our research

Go deeper: the data behind this update

Two standing reports, each updated on its own schedule. The numbers below update live from the same data.

FLYING Finance Indices · Updated monthly

Proprietary indices, built from primary data

FAA bills of sale for piston aircraft, the loans we close, and live loan rates indexed to the 5-year Treasury.

1,692Piston bills of sale, Sept 2026

6.81%Certified piston starting rate

2.34 ptsMedian spread at close, Q3 2026

Explore the indices

Business Jet and Turboprop Report · Q3 2026

The bigger the jet, the hotter the market

Turboprops through large cabin jets: who has the edge, what is selling, how values are moving, and the OEM backlog.

+13%Large-jet values, year over year

6.6%Share of jets listed for sale

−8%Turboprop values, year over year

Read the market report

Deal Index Rate Index Loans by state OEM backlog

FAA Registry

Active private pilots in the United States

Active Private Pilots, 2019 to 2025

Source: FAA Civil Airmen Statistics · faa.gov · Updated annually (April/May)

AI Assistant

Have questions about the data or your financing?

Amelia can explain what the GAMA numbers mean for your purchase timing, walk through the rate environment, or help you get started on a pre-approval.

Amelia, FLYING Finance AI

Hi! I can help you interpret the shipment data, understand how current rates affect your deal, or get you started on pre-approval. What would you like to know?

Amelia provides general information only and does not constitute financial advice.

Common Questions

What buyers ask about the market

What does the GAMA shipment report measure?+

GAMA (the General Aviation Manufacturers Association) publishes quarterly data on worldwide civil aircraft shipments by category (piston, turboprop, business jet, rotorcraft) and manufacturer. It is the definitive public dataset for GA production volume, published each February, May, August, and November.

How often are the aircraft loan rates updated on this page?+

Rates update automatically via FRED (Federal Reserve Economic Data) through a live WPCode integration. The 5-year Treasury rate, the base for all loan categories, updates daily when markets are open. The spread added to that base reflects FLYING Finance's current lending program and updates when market conditions change meaningfully.

What is bonus depreciation for aircraft, and who qualifies?+

The One Big Beautiful Budget Act reinstated 100% bonus depreciation for qualifying business aircraft. A qualifying aircraft must be used more than 50% for business purposes and placed in service by December 31, 2026. 100% bonus depreciation allows the full purchase price to be deducted in the year of purchase rather than depreciated over time. Consult your CPA for your specific situation.

What does the 5-year Treasury rate have to do with aircraft loans?+

Aircraft loans are priced as a spread over a benchmark Treasury rate. FLYING Finance uses the 5-year Treasury Constant Maturity Rate (DGS5) as the base for all loan categories, then adds a fixed spread for each loan category to arrive at the starting rate for qualified borrowers. When Treasury rates fall, aircraft loan rates follow.

What does a rolling 4-quarter comparison show that a single quarter does not?+

Individual quarters are noisy: Q4 always runs high as manufacturers push year-end deliveries. Rolling 4-quarter totals smooth that seasonality and show the underlying trend in production. The current rolling period shows piston at 1,805 (slightly below the prior period's 1,834), turboprop contracting to 585 from 651, and business jets growing strongly to 875 from 740.

Regulatory Calendar

Key dates affecting aircraft buyers

October 2025

MOSAIC Sport Pilot Privilege Expansion Complete

FAA expanded Sport Pilot privileges. Pilots may now fly heavier, faster LSA aircraft under the Sport Pilot certificate.

July 20, 2026

EAA AirVenture Oshkosh 2026 Complete

FLYING Finance was on site at FLYING Magazine Booth 2004, July 20–26. Attendees who financed an aircraft purchase during the show closed before leaving Wisconsin.

July 24, 2026

MOSAIC Manufacturer Certification Effective 34 days

Manufacturer certification requirements become effective. Affects new LSA pricing and financing eligibility. Legacy LSA buyer window closes at this date.

December 31, 2026

100% Bonus Depreciation Deadline Critical

Aircraft must be purchased and placed in service by December 31, 2026. October is the last comfortable entry point. 47 days remaining.

Source Data

Explore each data series: Aircraft Lending Index · Loan rates vs. Treasury · GA aircraft shipments · Piston Transaction Index · Active private pilots

Industry data and primary sources

GAMA

GAMA Statistical Databook and Industry Outlook

Primary source for all shipment charts and manufacturer tables. Quarterly worldwide civil aircraft shipments by category.

Updated quarterly · gama.aero
FRED

Federal Reserve Economic Data (FRED)

Live source for all rates and macro indicators. 5-yr Treasury, Fed Funds, SOFR, Prime Rate, WTI Crude. Updates automatically via WPCode.

Updated daily to monthly · fred.stlouisfed.org
FAA

FAA Civil Airmen Statistics

Annual count of active certificated pilots. 887,519 total active pilots in 2025, including 174,155 private pilots. Source for the pilot trend chart.

Updated annually (April/May) · faa.gov
IRS

IRS Bonus Depreciation Guidance

OBBBA reinstated 100% bonus depreciation for qualifying business aircraft through December 31, 2026.

Updated per legislation · irs.gov
NBAA

NBAA Business Aviation Tax Issues

Tax policy coverage for business aviation including bonus depreciation advocacy and ownership structure guidance.

Updated continuously · nbaa.org

Get the quarterly market update

GAMA data, rate movements, regulatory updates, in your inbox when it matters. No noise between reports.

Live via FRED · WPCode

Current Rates

6.81%

Certified piston · starting rate · fixed · 20yr

LSA / MOSAICfrom 7.33%

Certified pistonfrom 6.81%

High-performancefrom 6.71%

Turboprop / jetfrom 6.70%

EAB / Kitplanefrom 7.40%

Starting rates for qualified borrowers. Actual rate depends on credit profile, aircraft type, loan term, and down payment.

Full Rate Sheet Payment Calculator

Live via FRED · Auto-updates

Economic Indicators

5-yr Treasury

4.25%

52wk: 3.62–4.89

Fed Funds

4.50%

52wk: 4.33–5.33

SOFR

4.31%

52wk: 4.30–5.31

Prime Rate

6.75%

52wk: 6.75–8.50

10-yr Treasury

4.42%

52wk: 3.98–4.79

WTI Crude

$74

52wk: $62–$87

Updated June 21, 2026

December 31, 2026

Bonus Depreciation

days remaining

Aircraft must be purchased and placed in service by December 31, 2026. October is the last comfortable entry point for a December close.

Bonus Dep Guide Estimate My Payment

Soft pull · No score impact

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