Bridger Aerospace announces substantial growth and strategic international ventures

aerial wildland firefighting in europe

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Bridger Aerospace’s fiscal year achievements

Bridger Aerospace, recognised as one of the leading aerial firefighting companies in the United States, announced its financial outcomes for the fourth quarter and the entire fiscal year concluding on December 31, 2023.

Despite encountering the slowest fire season in two decades, the company achieved a record revenue of nearly $67 million.

It also secured significant contract awards throughout the year, including a notable 5-year, $60 million fire surveillance and technology contract dedicated to the Department of Interior.

Furthermore, the company marked its first international deployment, covering more territory than ever before in its history.

Strategic expansions and technological advancements

The company’s strategic initiatives include the acquisition of four Super Scoopers from the Spanish Government through a Joint Venture Partnership, leading to the establishment of the Spanish subsidiary, Albacete Aero.

This move is aimed at managing the return to service of the acquired aircraft and enhancing the company’s fleet capabilities.

Bridger Aerospace’s recent contracts in software and surveillance technologies are set to offer a unique and competitive edge in the marketplace.

The company’s proactive deployment of Super Scooper and surveillance aircraft to Texas and Oklahoma further positions it for a record year of growth in 2024.

Financial outlook and CEO insights

Tim Sheehy, CEO of Bridger Aerospace, highlighted the company’s accomplishments in the fourth quarter, emphasising the strategic purchase of the Super Scoopers and the impact on future growth.

The company’s lean cost structure and early deployment strategy are pivotal for its 2024 outlook.

Sheehy also noted the ongoing wildfire challenges in North America, affirming Bridger Aerospace’s readiness to address these concerns with its comprehensive fleet.

For 2024, Bridger Aerospace anticipates an adjusted EBITDA growth exceeding 80%, aiming for a range between $35 million and $51 million, in alignment with previous forecasts.

IFSJ Comment

The strategic advancements and financial achievements of Bridger Aerospace reflect the company’s dedication to innovation and efficiency in aerial firefighting.

By expanding its fleet with the acquisition of Super Scoopers and venturing into international territories, Bridger sets a new standard for operational capacity and market competitiveness.

These efforts, coupled with technological enhancements in fire surveillance, position Bridger Aerospace as a formidable force in addressing the complex challenges of wildfire management.

As the industry evolves, Bridger’s proactive approach and strategic investments underscore the vital role of aerial firefighting companies in safeguarding communities and natural landscapes from the escalating threat of wildfires.

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