The North American fixed-base operator market is expected to reach US$ 11,819.26 million by 2028 from US$ 8,286.31 million in 2021; it is estimated to grow at a CAGR of 5.2% from 2021 to 2028.
North America is known to have the largest fleet of commercial and general aircraft of all regions in the world, and these aircraft require regular fixed-base operator services for efficient operations.North American economies are characterized by high individual disposable income, elevated standards of living, and rapid technological advancements (in airport infrastructure as well).
In addition to the huge business and personal fleet operations in the domestic as well as international arena, the presence of a large number of fixed-base operators propels the fixed-base operator market in North America.The aviation industry in the region is matured and has the presence of several aircraft OEMs.
Also, governments are investing increasingly in R&D as well as in the procurement of advanced helicopters, private jets, and trainer aircraft from the regional players. The growing focus on enhancing the infrastructure of private airports and favorable changes in regulations are also supporting the fixed-base operator market growth in North America.
North America, especially the US, 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 the US, Mexico, Canada, Panama, and Costa Rica, among other North American 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 North American 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 North American countries.
Business aviation is specifically selected for intercity travel by businessmen to save time.
The overall North America 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 as well as external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the North America 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 North American fixed-base operator market. A few of the key companies operating in the market are Avemex SA De CV; dnata Corporation; General Dynamics Corporation; Jetex; Luxaviation; Signature Aviation; Swissport International AG; Tag Aviation; and Abilene Aero.
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