Report : Asia Pacific Fixed-Base Operator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Services Offered (Hangaring, Fuelling, Flight Training, Aircraft Maintenance, Aircraft Rental) and Application (Business Aviation and Leisure Aviation)
At 8.6% CAGR, the Asia Pacific Fixed-Base Operator Market is speculated to be worth US$ 8,401.26 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific fixed-base operator market was valued at US$ 5,127.12 million in 2022 and is expected to reach US$ 8,401.26 million by 2028, registering a CAGR of 8.6%from 2022 to 2028. Growth of business aviation sector and high potential for FBOS in Asia Pacific are the critical factors attributed to the Asia Pacific Fixed-base operator market expansion.
The increasing number of individuals with ultrahigh net worth in developing regions is a one of the key factors boosting the business aviation sector. With large population and wealth in Asia Pacific region, the countries are 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) 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. The market is expected to grow globally as falling prices of pre-owned corporate aircraft make operating leases more attractive for buyers. The demand for business jets in other parts of the world is increasingly high due to mounting international trade and businesses, and surge in corporate travel activities, especially including managerial executives. According to the General Aviation Manufacturers Association (GAMA), the business jet manufacturers delivered 809, 644, and 710 aircraft in 2019, 2020, and 2021 respectively, and the production and delivery of business jets are further expected to grow in the coming years. Thus, the growth of the business aviation sector due to rising demand for business jets is bolstering the Asia Pacific fixed-base operator market growth.
On the contrary, staffing shortages and high operational costs hurdles the growth of the Asia Pacific fixed-base operator market.
Based on services offered, the Asia Pacific fixed-base operator market is segmented into hangaring, fuelling, flight training, aircraft maintenance, aircraft rental. The fueling segment held 43.3% share of Asia Pacific fixed-base operator market in 2022, amassing US$ 2,219.89 million. It is projected to garner US$ 3,513.92 million by 2028 to expand at 8.0% CAGR during 2022–2028.
Based on application, the Asia Pacific fixed-base operator market is bifurcated into Business aviation and leisure aviation. The Business aviation segment held 76.0% share of Asia Pacific fixed-base operator market in 2022, amassing US$ 3,895.73 million. It is projected to garner US$ 6,488.69 million by 2028 to expand at 8.9% CAGR during 2022–2028.
Based on country, the Asia Pacific fixed-base operator market has been categorized into Australia, China, India, Japan, Malaysia, and the Rest of Asia Pacific. Our regional analysis states that Australia captured 35.7% share of Asia Pacific fixed-base operator market in 2022. It was assessed at US$ 1,828.15 million in 2022 and is likely to hit US$ 2,800.14 million by 2028, exhibiting a CAGR of 7.4% during the forecast period.
Key players profiles in the Asia Pacific fixed-base operator market report are DEER JET CO. LTD.; dnata Corporation; ExecuJet Aviation Group AG; General Dynamics Corporation; Jetex; Luxaviation; Signature Aviation; Swissport; and Universal Weather and Aviation, Inc., among others.
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