Market Overview
The global Fixed-Base Operator Market was valued at US$ 25.1 billion in 2022 and it is anticipated to grow up to US$ 44.9 billion by 2032, at a CAGR of 5.9% during the forecast period.
A fixed-base operator (FBO) is a company that is allowed by the airport authority to operate and offer aeronautical services such as aircraft repair, hangaring, tie-down and parking, aircraft rental, fuelling, flying training, and others. At an airport, the FBO is the major provider of support services to aviation operations. FBO services vary in their offerings and operations; not all FBO services must provide the same or similar services; some include ground transportation arrangements, lavatory facilities, weather information rooms, showers, aviation supplies, and concierge services for flight crews, pilots, and passengers. Others supply aircraft with in-flight culinary services.
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Market Drivers and Trends
The growth in the airport infrastructure is driving the market growth. Airport infrastructure that is both high-quality and timely keeps up with the degree of predicted expansion and demand from the traveling public. Furthermore, by meeting the need for improved airport infrastructure, the economic and social advantages of aviation may add to the community’s and nation’s economic vibrancy. Increasing air traffic will enhance the need for innovative concepts to optimize the use of developing technology, procedures, and design across the whole ground trip. As a result, major countries have placed emphasis on airport infrastructure, which will boost demand for FBOs throughout the projection period. For example, according to A-ICE, India’s aviation sector is forecast to be one of the fastest-growing in the world, with a growth rate of 6.8% expected, equal to more than 50 million passengers each year. This would improve India’s airports and aviation infrastructure, clearing the door for market expansion.
Furthermore, rising dependency on luxurious lifestyle is going to propel the Market Demand. In today’s fast-paced and technologically advanced world, people choose to spend more money on better and more expensive services. FBOs are concentrating heavily on the rising trend of collaborating with large hotels and stores to provide upmarket facilities. Many FBOs are being renovated to include private conference rooms, elegant lounges, and even a spa. When a private jet charters from an FBO that is also a hotel, they may step off the plane and remain at the hotel. As a result of the increased demand for opulent services, as well as the expanding necessity for FBO services at airports, the FBO industry is poised for profitable expansion. These drivers are likely to propel market expansion.
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Market Restraints and Challenges
The developing issue of staff shortages, along with low overall unemployment rates, has resulted in a tight labour market. Ground handlers are concentrating on modernizing their equipment to be competent with technologically improved aircraft as they acquire sophisticated technology. Furthermore, FBOs must train their employees to be able to operate such high-tech equipment. The need for competent experts to provide FBO services is enormous; the industry’s expansion is hampered by a dearth of skilled staff. Furthermore, the cost of training is extremely expensive, impeding the expansion of the fixed-base operator business, particularly in emerging or cost-sensitive nations. Thus, the rising cost of fuel and maintenance services provided by FBOs, as well as a scarcity of well-trained personnel, are limiting the expansion of the fixed-base operator industry. Hence, these factors are expected to restrain growth of the market during the forecast period.
Global Fixed-Base Operator Market Segmental Overview
The report analyses the global Fixed-Base Operator Market based on services offered, application, and region.
Global Fixed-Base Operator Market by Services Offered
Based on type, the Fixed-Base Operator Market is segmented into hangaring, fueling, flight training, aircraft maintenance, and aircraft rental. The fuelling segment is expected to dominate the market during the forecast period. The global market for hanging segment is expanding rapidly.
Global Fixed-Base Operator Market by Application
By application, the market is classified into business aviation, and general aviation. The general aviation segment dominated the market in 2022 in terms of revenue and is expected to dominate the market during the forecast period. Tourists from diverse countries visit foreign countries, which has evolved into a new trend in the past few years. Multi-brands are modifying their services in both private and general aviation in response to this demand, which will be another driving factor in this industry. The increasing demand for enhanced and productive safety while traveling with all luxury amenities creates a big potential for fixed-base operators to deliver these services to aircraft owners. Furthermore, the worldwide expansion of business aviation is assisting in the rise of the fixed-base operator market.
Geographical Analysis of Global Fixed-Base Operator Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America has the biggest market share in terms of Fixed-Base Operator Market value followed by Europe. In North America, the United States and Canada account for the majority of market share and draw millions of people from every corner of the world. Product sales are also increasing because of the region’s new concepts and business methods. The aviation sector in North America is mature, with multiple aircraft OEMs active. The increasing emphasis on enhancing private airport infrastructure, together with favorable regulatory developments, may promote the expansion of the North American general aviation market throughout the projection period.
The European area has grown rapidly in recent years, owing to improved consumer awareness and brand familiarity among regional consumers.
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Major Players in the Global Fixed-Base Operator Market
The key players studied in the global Fixed-Base Operator Market are Qantas Airways Limited ABN , Dassault Aviation, Jetex , TAG Farnborough , Paragon Aviation Group, Hawker Pacific, Wira-FBO, Signature Flight Support, Airflite International , and AFM Aviasi among others.
COVID-19 Impact
The COVID-19 epidemic has had an negative influence on almost every part of daily life, especially the aviation sector. COVID-19 had a significant influence on the airline and FBO industries since the pandemic damaged airline hubs in the immediate aftermath, resulting in falling FBO market growth. However, with the introduction of vaccinations, traffic begins to return. Airlines that remain tight-lipped during this difficult period are expected to be stronger and more lucrative if they make the critical short- and long-term changes to their business strategy. The impact of the epidemic and containment measures on the aviation sector is affecting the profitability of fixed-base operators. However, other countries, like the United States, Australia, Singapore, China, France, and others, are providing financial assistance to their airlines in order to maintain them viable and pay their employees.
Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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