Embraer began designing the Phenom 300, a light jet aircraft, after finding that potential customers of the Phenom 100 would also like a bigger aircraft. Designers took the basic fuselage cross-section of the 100 and added an extra 14 inches in length, an all-new wing, and powerful and quiet Pratt & Whitney Canada turbofan engines. As of May 2016, 15% of the Embraer Phenom 300 aircraft were purchased pre-owned by their current owners, the other 85% new. 5.6% are currently for sale with the majority of those (72%) under an exclusive broker agreement. When for sale, the average number of days on the market is 255.