The Europe fixed-base operator market is expected to grow from US$ 7,396.27 million in 2021 to US$ 11,251.39 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2021 to 2028.
Europe includes various well-established economies such as France, Germany, Spain, Switzerland, Scandinavia, Russia, the UK, and Italy that are characterized by a large number of domestic and international airports.Many of these are technologically advanced, developed countries.
The governments of these countries have been taking various initiatives for the development of the aerospace industry infrastructural.Similar to the European dynamics, private airplanes are the preferred means of transportation across Europe for domestic and international travel.
The significant presence of fixed-base operators across the region can be mainly attributed to the travelers’ inclination toward air travel, for both business and leisure aviation.
Europe, especially Russia, witnessed an unprecedented rise in the number of COVID-19 cases in 2020.The pandemic conditions resulted in a decrease in aviation and defense activities, consequently lowering the demand for fixed-base operating activities in the first half of 2020.
Moreover, decline in the overall travel activities has led to discontinuation of fixed-base operator projects in France, UK, Spain, Italy and Germany, among other European countries. However, the countries are likely to overcome the consequences of the drop in demand with the economic activities regaining their pace, especially from the beginning of 2021.
Based on application, the Europe fixed-base operator market is segmented into business aviation and leisure aviation.The business aviation segment is expected to grow at a faster CAGR during the forecast period.
Turbofan-powered aircraft, specifically designed to transport small groups of people or families, are used for business aviation.The procurement of such aircraft by individuals (VIPs and athletes), governments, corporates, and charter service providers is rising in the European countries.
Business aviation is specifically selected for intercity travel by businessmen to save time.
The overall Europe fixed-base operator market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative as well as quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the Europe fixed-base operator market with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants to validate the data as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe fixed-base operator market. A few of the key companies operating in the market are dnata Corporation; General Dynamics Corporation; Jetex; Luxaviation; Signature Aviation; Swissport International AG; and Tag Aviation.
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