You read that right – VREF turns 30. With this in mind, we thought it might be a good time to talk about what we’ve been through and plan on being for future aviation enthusiasts, pilots, financial institutions, and businesses. After 3 decades in business, we’ve seen multiple banks in crisis, a global pandemic, several presidential elections, and countless innovations in science, engineering, and technology.
Today, VREF is proud to serve aviation with aircraft appraisals, resources, and expert witness services in aviation for businesses and individual aircraft owners.
Start the appraisal process for your aircraft.
An Evolution Of Aviation
The Wright brothers’ groundbreaking flight in 1903 marked the dawn of modern aviation, setting the stage for extraordinary advancements in aircraft design and performance. This pivotal moment changed aviation from simple biplanes into a family of sophisticated fighter jets, bombers, and commercial airliners.
The world began seeing rapid innovation in transportation throughout the early 20th century, pushed significantly by the demands of World War I and World War II. Nations poured resources into aircraft development, leading to remarkable leaps in technology.
As the post-war period began welcoming the age of jet engines, aircraft propelled to new heights and speeds. The 1950s and 1960s became a golden era for commercial aviation, highlighted by the launch of iconic airliners like the Boeing 707 and Douglas DC-8.
For VREF’s President and third-generation aviator Jason Zilberbrand, the company’s 30th anniversary brings back profound memories,
“I began [as] a mere 21-year-old and JSSI, a fledgling independent engine maintenance program company. Back then, with only a half dozen employees, surpassing the enrollment of 500 aircraft engines was a distant dream…an ambition that we achieved against all odds.”
— Jason Zilberbrand, ASA
Growing up in aviation, Zilberbrand’s father created the largest independent provider of power-by-the-hour services. He is highly respected in the international aviation community and has established himself as an expert in aircraft appraisals and valuations.
Reflecting On First Quarter Expectations
Our 1st Quarter Market Trend Report offers a general overview of what to expect in aviation moving beyond 2024. A few Q1 predictions we plan on tracking for years to come include events beyond our control such as…
- Bankruptcy affecting business aviation lending
- Commercial real estate concerns for regional banks heavily exposed to commercial real estate loans, which have seen rising defaults
- Economic state with characteristics similar to the 2008 financial crisis
Another future challenge in aviation to consider includes the who, what, where, when, and why of delegating responsibilities and requirements. This is because government scrutiny and regulatory actions continue to push for greater transparency in aviation.
However, assigning liabilities is becoming increasingly complicated for businesses, financial organizations, insurance companies, aircraft manufacturers, and aircraft maintenance workers. But the general public wants answers to questions like…
- How can we clearly define roles to avoid errors?
- How should errors be handled after tasks are delegated?
- What training do team members need and is it enough?
- What legal issues can arise when delegating responsibilities?
“These shifts highlight the need for adaptability and innovation within the industry and accepting that under the current administration government regulation is only going to get worse. The trend of transparency is not going to stop as consumers demand more ethical behavior amidst those jockeying to control an industry.”
— Jason Zilberbrand
As we surpass our 30th year in business, we’re proud to continue offering a robust database of aircraft transactions and market trends for reliable and up-to-date aviation appraisal services.
Preparing For An AI-Packed Future
Ongoing advancements in materials, avionics, and engine technology continue to enhance the speed, range, and safety of aircraft – shaping the future of aviation. As Zilberbrand reflects on 30 years of VREF, emphasizing the importance of action and tenacity by quoting an all-time-favorite aviation pioneer,
“The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward.”
— Amelia Earhart
Over 30 years later, VREF is a leading provider of aircraft valuation and appraisal services with headquarters in Buffalo Grove, Illinois. Valuation services expand over a wide range of aircraft makes and models for:
- Commercial Airliners
- Business Jets
- Turboprops
- Piston Aircraft
- Helicopters
- Warbirds
30 Years Later With VREF
VREF covers a lot when it comes to aviation, including…
- Full aircraft appraisals offer in-depth appraisals that provide a detailed analysis of an aircraft’s condition, equipment, market comparisons, and fair market value.
- Desktop appraisals offer shorter appraisal reports that can be completed remotely without a physical inspection of the aircraft.
- Depreciation schedules assist in projecting the diminishing value of an aircraft over time.
- Fleet valuations are comprehensive valuations for an entire fleet of aircraft owned by a company or organization.
- Remarketing assistance helps with pricing and marketing aircraft for sale on the secondary market.
Widely trusted and used by a variety of clients VREF routinely works with banks, leasing companies, aircraft owners, and aviation professionals. When making financing decisions or determining insurance coverage, VREF is a reliable source.
VREF is comprised of a team of specialists in FAA Airframe and Powerplant (A&P) maintenance, Inspection Authorization (IA), and an in-house Designated Airworthiness Representative (DAR), ensuring a comprehensive and reliable appraisal process tailored to your needs.
Contact us for aircraft appraisal services.
The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only.
