Europe Fixed-Base Operator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Services Offered (Hangaring, Fuelling, Flight Instructions, Aircraft Maintenance, and Aircraft Rental) and Application (Business Aviation and Leisure Aviation)
The Europe fixed-base operator market is expected to grow from US$ 7,916.11 million in 2022 to US$ 12,007.42 million by 2028. It is estimated to grow at a CAGR of 7.2% from 2022 to 2028.
Escalating Demand for Hangaring Services for Large Aircraft is Expected to Drive the Europe Fixed-Base Operator Market
The rising demand for business and private jets, including both small and large aircraft, is one of the significant factors driving the business growth of hangaring service providers. The steady rise in general aviation air traffic has created a need for new general aviation aircraft fleet with higher seating capacity. The general aviation aircraft OEMs are also focusing on the development of new-generation aircraft with reduced fuel consumption, large size, and low noise and carbon emissions. As a result, the demand for hangars has increased in recent years. The design of aircraft hangars has also undergone significant changes to suit the changing aircraft sizes and technologies, with modern aircraft hangars being fitted with temperature control and security devices. Thus, the trend of constructing large hangars to cater to the growing number of large general aviation aircraft fleet is a key trend that would support the growth of the Europe fixed-base operator market in the near future.
Europe Fixed-Base Operator Market Overview
Europe includes various well-established economies such as France, Germany, Spain, Switzerland, Scandinavia, Russia, the UK, and Italy. The governments of these countries have been taking various initiatives such as infrastructural development of the general aviation industry in the region. These countries have developed economies and are technologically advanced with the presence of a large number of airports. Similar to the North American dynamics, the most preferred means of transportation across Europe for domestic and international travel is through private airplanes; hence, the region has the presence of both general aviation and commercial airports. The travelers’ inclination toward air travel, both for business and leisure aviation, has resulted in significant presence of fixed-base operators across the region. The demand for FBOs for providing better services to the travelers has escalated remarkably over the years in the European countries.
The region has the presence of business aviation airports such as Nice Côte d'Azur Airport, Geneva Cointrin International Airport, Paris–Le Bourget Airport, and Moscow Vnukovo Airport, across different countries. These airports deal efficiently with the increasing business aviation with the help of different FBOs including Signature Aviation and Jet Aviation, ExecuJet, and Swissport operating across the airports. There are over 136,000 general aviation aircraft in the region, and the European general aviation fleet has access for over 4,200 airports. The growing general aviation in Europe is anticipated to witness significant growth in the coming years, owing to an increase in number of people opting for business jets and private jets for travel and tourism in the region. The presence of several FBOs in the region such as Jet Aviation, Harrods Aviation, Universal Aviation, Farnborough Airport, Signature Flight Support, and Harrods Aviation, is boosting the market growth. Owing to the global lockdown to mitigate the spread of COVID-19, the economic strength of the region has been hindered to some extent. The operations across various sectors have been temporarily halted, which has affected the economic status of the region. The governments of every country in the region have announced a complete lockdown, which, in turn is hindering the growth of the Europe fixed-base operator market. Further, Europe has witnessed the highest number of COVID-19 affected cases and deaths, especially in Italy, which is expected to affect the demand for FBOs in Europe during the forecast period.
Some of the recent developments across the Europe FBO market include:
In January 2022, Jetex and Berlin Neuhardenberg Airport announced their joint venture agreement for establishing an executive aviation terminal and fixed base operation (FBO) at the airport
In June 2022, Jetex announced that it has signed an agreement with Avia Solutions Group to operate the FBO at Hangar 510 at Biggin Hill Airport (EGKB/BQH)
In May 2021, Hadid International Services opened a new FBO facility at Italy's Riviera Airport.
Europe Fixed-Base Operator Market Revenue and Forecast to 2028 (US$ Million)
Europe Fixed-Base Operator Market Segmentation
The Europe fixed-base operator market is segmented into services offered, application, and country.
Based on services offered, the Europe fixed-base operator market is segmented into hangaring, fuelling, flight training, aircraft maintenance, aircraft rental. In 2022, the fuelling segment registered a largest share in the Europe fixed-base operator market.
Based on application, the Europe fixed-base operator market is bifurcated into Business aviation and leisure aviation. In 2022, the Business aviation segment registered a larger share in the Europe fixed-base operator market.
Based on country, the Europe fixed-base operator market is segmented into France, Germany, Italy, the UK, Russia, and the Rest of Europe. In 2022, Germany segment registered a largest share in the Europe fixed-base operator market.
dnata Corporation; ExecuJet Aviation Group AG; General Dynamics Corporation; Jetex; Luxaviation; Signature Aviation; Swissport; and Universal Weather and Aviation, Inc. are the leading companies operating in the Europe fixed-base operator market.
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