Fixed-Base Operator Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Services Offered (Hangaring, Fuelling, Flight Training, Aircraft Maintenance, and Aircraft Rental) and Application (Business Aviation and Leisure Aviation)

According to the latest research report titled "Fixed-Base Operator Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 37,177.46 million by 2028, registering a CAGR of 6.7% during 2022-2028.

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Growth of Business Aviation Sector to Drive Fixed-base Operator Market During Forecast Period

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The increasing number of individuals with ultrahigh net worth in developing regions is a one of the key factors boosting the business of the global aviation sector. With its large population and wealth, APAC region is in a good position to quickly tackle flexibility issues to empower efficient business travel. Organizations such as ASEAN and APEC are synergistically working with the International Business Aviation Council (IBAC), the International Civil Aviation Organization (ICAO), and the Asian Business Aviation Association (AsBAA) for improving transportation regulations to implement efficient solutions.

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Business jet deliveries in China witnessed a decline due to poor domestic growth and poor business confidence in business jets. Despite the low demand for domestic business jets, various companies in China are confident of having new aircraft deliveries since the country is one of the main markets for the business jet in the region. The fixed-base operator market is expected to grow globally as falling prices of pre-owned corporate aircraft make operating leases more attractive for buyers. The demand for business jets is increasingly high due to mounting international trade and businesses, and surge in corporate travel activities, especially including managerial executives, thereby driving the fixed-base operator market size.

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According to the General Aviation Manufacturers Association (GAMA), the business jet manufacturers delivered 809, 644, and 710 aircraft in 2019, 2020, and 2021 respectively, and the production and delivery of business jets are further expected to grow in the coming years. Thus, the growth of the business aviation sector due to rising demand for business jets is bolstering the fixed-base operator market size.

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Airports in the region are undergoing modernization, decongestion, and expansion activities, alongside offering remarkable set of facilities for passengers. Continuous growth in the number of individuals with high net-worth is driving passengers' preference toward private aircraft, which is a major factor contributing to the growth of fixed-base operator market players in the MEA. Furthermore, the rising travel and tourism sector in the region is bolstering the growth of the general aviation industry by attracting more passengers. However, fluctuations in oil prices may pose a threat to this industry, as most of the Middle Eastern countries are oil-based economies, thereby limiting the fixed-base operator market growth.

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Despite many environmental and social challenges, among others, favorable government initiatives are facilitating economic growth in the SAM countries at a reasonable pace during the forecast period. The rate of urbanization is high in the region, especially in large developing economies. Growing urbanization in the region, coupled with a stable economic structure, is triggering the adoption of air travel as a mode of transportation. Countries such as Brazil, Colombia, Peru, and Chile have the busiest airports in the region due to the massive inflow of air travelers. Brazil and Argentina, among others, are experiencing the proliferation of their respective business and leisure aviation industries, thus boosting the fixed-base operator market growth.

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Impact of COVID-19 Pandemic on Fixed-Base Operator Market Players

The COVID-19 outbreak is adversely affecting the world and is continuing to shatter several countries. Containment measures such as lockdown, business shutdown, and travel restriction disrupted the supply chain of fixed-base operators, leading to the decline in revenues among the service providers. Moreover, the restriction on travel activities in many countries impaired the adoption of fixed-base operator from demand side in 2020, and so far, 2021. However, as trading activities picked pace from the last quarter of 2020, market players are experiencing decent growth in the fixed-base operator market.

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Key Findings of Study:

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The global fixed-base operator market is segmented into five major regions-North America, Europe, APAC, MEA, and SAM. North America led the market in 2021, followed by Europe and APAC. High demand among customers and the widespread presence of fixed-base operator service providers in North America, especially in the US, boosted the growth of the fixed-base operator market. On the other hand, the APAC region is projected to showcase tremendous demand for FBOs in the upcoming years, thus, registering the highest CAGR during 2022-2028. This is due to the significant growth in general aviation segment, particularly in Australia, China, and Southeast Asian countries.

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Based on service offered, the fixed-base operator market can be segmented into hangaring, fuelling, flight instructions, aircraft maintenance, and aircraft rental. The fuelling segment led the fixed-base operator market in 2021. At airports, the FBOs provide ground handle and fuelling services to the commercial airlines operating from the airport. The most important thing that the buyers are looking for is the smaller airfields with quick response of the FBO, as the purchasing power varies and impacts the margins on each gallon of fuel sold. For instance, Jet Aviation (subsidiary of General Dynamics), provides fuelling services to corporate, by following the ISAGO rules set for airport operations. The company also holds relevant license and certification training - FAR 139 fuel and fire safety, NATA safety first, and CDL.

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