Top 5 High-End Piston Aircraft AOPA Financed in 2020

“It’s not surprising to see Cirrus aircraft at the top of this list. In 20 years, Cirrus Aircraft has come to dominate this market from their little manufacturing plant in Duluth, Minnesota . . . More importantly, Cirrus Aircraft has established dozens and dozens of Cirrus Service Centers around the globe, giving potential owners the confidence to know wherever they are, there’s a service center near them with the parts they need. And because Cirrus invested heavily in the quality of their R&D and manufacturing, there’s no question of the high-quality fit and finish of any undamaged SR22 on the market. It’s a well-know entity. It’s commoditized. It’s’ fast. And its got a parachute. The parachute is not a gimmick. It’s a real thing that, as of 2019, has been documented to have saved 401 lives. The only thing the SR22 lacks is pressurization.”

“The Bonanza is the top choice for pilots where elevation is not an issue but load carrying capacity is. Most Bonanzas will carry five passengers, and a good amount of luggage, 400-600 nm. The other advantages of a Bonanza include how economical it is to operate while still being a fast aircraft. Our experience has shown for people equally smitten with the Bonanza and the SR22, the choice often comes down to useful load.”

Top 5 High-End Piston Aircraft AOPA Financed 2020

Cirrus SR22
Piper Malibu Mirage
Bonanza A/G36
Cessna 206 Stationair
Beechcraft G58 Baron

References:

Adam Meredith, President of AOPA Finance Company, “Top 5 High-End Piston Aircraft Purchased in 2020, AOPA Finance, March 19, 2021.

Pre-Owned Cirrus Aircraft May 2021

In January 2021, a total of 96 preowned Cirrus SR22 airplanes were listed for sale. In May, the available supply was down to 81. A balanced supply to demand ratio of pre-owned airplane listings is said to be 3% of the manufactured models that were shipped.

The pre-owned listings for Cirrus SR22 models are at one percent ( 81 pre-owned listings / 6,500 mfg. = 1.3%.). The pre-owned listings for Cirrus SR20 models are at one percent ( 21 pre-owned listings / 1525 mfg. = 1.4%).

Pre-Owned Cirrus Aircraft For Sale, May 2021

Cirrus SR22 G6 is favored slightly more than its G5 normally aspirated brethren

After 4-years, the Cirrus SR22 G6 has slightly outsold its G5 normally aspirated predecessor. More than 508 customers have taken delivery of the G6 normally aspirated piston-engine plane which was introduced in 2017. That’s 18 or 4% more buyers than the Cirrus SR22 G5 during its 4-year production run from 2013 – 2016. Both are favored models and it seems the pilot attraction keeps getting stronger with each generation advancement.

Table 1: Comparison of Cirrus SR22 G6 to SR22 G5 Shipments

Year	SR22 G6	SR22 G5	Variance	Percent
2020	107		-26	-20%
2019	131		3	2%
2018	135		18	15%
2017	135		23	21%
2016		133
2015		128
2014		117
2013		112
Total	508	490	18	4%

Source: GAMA Annual Report Manufacturers’ Aircraft Shipments

Cirrus SR22T G6 is More Popular Than its G5 Predecessor

After 4-years, the Cirrus SR22T G6 has outsold its G5 predecessor. More than 738 customers have taken delivery of the G6 Turbo which was introduced in 2017. That’s 155 or 27% more buyers than the Cirrus SR22T G5 achieved in its 4-year production run from 2013 – 2016. Both are favored turbo models but the pilot attraction keeps getting stronger with each generation advancement. Cirrus Aircraft has the most popular piston-engine turbo ever built.

Table 1: Comparison of Cirrus SR22T Turbo G6 to G5 Shipments

Year	SR22T G6	SR22T G5	Variance	Percent
2020	184		35	23%
2019	200		58	41%
2018	180		20	13%
2017	174		42	32%
2016		149
2015		142
2014		160
2013		132
Total	738	583	155	27%

Reference: GAMA Cirrus Shipment Statistics 2020 – 2013.

How many airplanes has Cirrus Aircraft Sold (2020)?

Cirrus Aircraft has been manufacturing the certified Vision Personal Jet since 2016 and the SR series airplanes since 1999. Total customer shipments were 8,234 at the end of 2020. Details by the numbers are below.

Table 1: Cirrus Aircraft Shipments by Year

Year	SF50 Jet	SR22 Turbo	SR22	SR20	SRV	Total
2020	73	184	107	56	0	420
2019	81	200	131	53	0	465
2018	63	180	135	65	0	443
2017	22	174	135	46	0	377
2016	3	149	133	35	0	320
2015	0	142	128	31	0	301
2014	0	160	117	31	0	308
2013	0	132	112	32	0	276
2012	0	88	81	84	0	253
2011	0	102	105	48	0	255
2010	0	107	115	42	0	264
2009	0	150	88	28	0	266
2008	0	250	177	115	7	549
2007	0	300	288	112	10	710
2006	0	30	535	150	6	721
2005	0	0	475	116	9	600
2004	0	0	459	91	3	553
2003	0	0	355	112	2	469
2002	0	0	292	105	0	397
2001	0	0	124	59	0	183
2000	0	0	0	95	0	95
1999	0	0	0	9	0	9
Total	242	2348	4092	1515	37	8234

”Cirrus Aircraft’s first high-performance SR Series airplane – the SR20 – was delivered in 1999 and transformed general aviation with intuitive avionics, game-changing performance and revolutionary safety systems, including the Cirrus Airframe Parachute System® (CAPS®). The SR Series has been the world’s best-selling single-engine piston for 18 years in a row, with a portfolio that includes the SR20, SR22 and the turbocharged SR22T.”

In 2021, Cirrus launched a limited edition SR series to commemorate the 8,000th customer delivery. The SR Series aircraft have exceeded 11 million flight hours and are flown in more than 60 countries around the world.

Table 1. References: GAMA Annual Reports and Matt Bergwall, 2006-2010 Cirrus Aircraft stats for factory installed Tornado Alley Turbonormalized (TAT) supplemental type certificate installations, which are not identified in GAMA statistics or the FAA registration database. The FAA records list model SR22 for Cirrus planes with TAT systems.

The Value of Shared Aircraft Ownership

It’s understood that costs differ by airplane type and with the passage of time, but a good valuation framework facilitates discussions, cost measurements, and process improvements. Our five-year case study on “The Value of Shared Aircraft Ownership” involved a $400,000 high-performance airplane, but the methodology can be applied to most aircraft co-ownerships. The study also included information gleaned from hundreds of pilot discussions about airplane expenses and co-ownership issues.

Three co-owners each realized $169,000 in value through shared ownership of a high-performance Cirrus Turbo airplane over a five-year period. The study identified $74,000 in direct expense savings per member compared to single-pilot ownership over five years. The analysis also quantified the value of member-contributed capital for airplane acquisition at $90,000 and goodwill from co-ownership formation at $5,000.

A three-step quantitative method was applied, which included establishing a valuation framework, organizing costs, and calculating values. The valuation framework included four categories: variable costs, fixed costs, acquisition capital, and co-ownership goodwill.

Variable Costs were items which increased or decreased relative to flight hours, such as fuel, oil, magnetos, brakes, tires, and engine. Fixed Costs included expenses incurred regardless of flight hours. These costs typically expired based on calendar months, for example, hangar, insurance and life-limited items, such as annuals, AmSafe airbags, CAPS, etc. Acquisition Capital came from member contributed capital. Goodwill was derived from the formation of a successful co-ownership.

“The Value of Shared Aircraft Ownership,” by Jeffrey S. Brewer was published in Cirrus Pilot Magazine, April 2020. You can receive the “The Value of Shared Aircraft Ownership” 5-year case study for free, which includes information not previously published. Get the free Case Study

A Clear Solution for Ice Protection

It makes sense that a manufacturer based in Duluth Minnesota wouldn’t just slip up on the idea of ice protection. For almost two decades, Cirrus airplanes have flown with a clear solution for ice. And, ice protection remains a highly preferred option among pilots of the iconic Cirrus SR22. From the organization’s beginning, Cirrus Aircraft has focused on safety and innovation.

The article “A Clear Solution for Ice Protection” by Jeffrey S. Brewer was published in the Special Safety Issue of Cirrus Pilot Magazine, April 2018. An electronic copy of the magazine, with the original article, is available through Cirrus Owners and Pilots Association.

Cirrus Aircraft Pricing 2021

Cirrus has published their airplane pricing for 2021.

Table 1: Cirrus Aircraft Pricing 2021

Description	SR22T	SR22	SR20
Base Price	779,000	679,900	494,900
Add: GTS SR22 or Premium SR20	150,900	150,000	100,000
Add: Ice Protection	30,000	30,000	n/a
Add: Air Conditioning	29,900	29,900	29,900
Add: Global Connect	15,900	15,900	15,900
Add: Hartzell 3-Blade Lightweight Composite Prop	Incl.	12,900	12,900
Add: Built-In Oxygen System	Incl.	10,900	n/a
Add: Tanis Avionics & Engine Pre-heater	2,490	2,490	2,490
Add: 3-Day Transition Training Package	2,900	2,900	2,900
Total	$1,011,090	$934,890	$658,990

Cirrus Aircraft Pricing 2021

GA Market Trends in Preowned Aircraft

In January 2021, the available supply of preowned airplanes listed for sale reached significant lows. For example, among high-performance airplanes, there were a total of 96 Cirrus SR22’s listed for sale which included 15 planes located outside the United States. And, only 85 Bonanzas were listed for sale which included 8 planes located outside the United States. Similar supply lows to total aircraft manufactured were reached in preowned sales listings for Cessnas and Pipers.

A supply to demand balanced ratio of preowned listings is said to be 3% of the manufactured models that were shipped. The preowned listings for some Cirrus and Bonanza models are below 1%.

Table 1: Preowned Cirrus Aircraft Listed for Sale

Preowned Cirrus Aircraft Sales Listings, January 2021

Table 2: Preowned Bonanza Airplanes Listed for Sale

Preowned Bonanza Sales Listings, January 2021

Cirrus Aircraft Outsells the Competition – 2019

In 2019, Cirrus Aircraft delivered 375 piston-engine planes. Cirrus by design, has successfully resegmented the piston-engine market and has distinguished their planes from the competition.

The Cirrus SR series wins 2:1 over Piper Archer and Arrow, about 2:1 over Cessna Skyhawk, Skylane & Stationair, 3:1 over Diamond DA40 and 47:1 over Bonanza G36 deliveries. A summarization of the annual GAMA report shows Cirrus won 41% of the traditional “four-seat” (4-adult) piston airplane customer shipments. See “Who is the GA Market Share Leader 2019“

The Cirrus “SR-series of high-performance piston airplanes are the best-selling aircraft in the world for [17] consecutive years – with over 7,800 aircraft operating in over 60 countries.”

References: General Aviation Manufacturers Association (GAMA) Annual Shipment Report 2019. Cirrus Aircraft marketing website.

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