According to the new research report published by The Insight Partners, titled Fixed-Base Operator Market is expected to grow from US$ 25,194.55 million in 2022 to US$ 37,177.46 million by 2028; it is estimated to grow at a CAGR of 6.7% from 2022 to 2028.

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. 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.

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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 substantial growth in ultra-high-net-worth individuals and high-net-worth individuals worldwide. Thus, boosting the demand for private travel, consequently driving the procurement of private jets with enhanced cabin interiors.

Therefore, the fixed-base operators are focusing on providing the most efficient services both to the travelers as well as aircraft owners. Based on application, the fixed-base operator market is segmented into business aviation and leisure aviation. The rising demand of enhanced and efficient safety while traveling with all luxury services is creating huge opportunity for the fixed-base operator to offer these services to the aircraft owners. Moreover, the boosting business aviation globally is supporting the growth of fixed-base operator market worldwide.

The COVID-19 outbreak has significantly affected the world and is continuing to shatter several countries. Until the outbreak, the aviation industry was experiencing substantial growth worldwide. However, the outbreak of the novel coronavirus has been reflecting notable decline in the adoption of aviation-based services, such as fixed-base operators. 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 demand from end users of fixed-base operators.

 

Companies Profiled in this report includes

ABILENE AERO
AVEMEX SA DE CV
DEER JET CO. LTD.
DNATA CORPORATION
JET AVIATION (GENERAL DYNAMICS CORPORATION)
JETEX
LUXAVIATION SA
SIGNATURE AVIATION PLC
SWISSPORT
ATLANTIC AVIATION FBO INC.
EXECUJET AVIATION GROUP AG
UNIVERSAL WEATHER AND AVIATION INC.

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