Bridger Aerospace Group Holdings (NASDAQ: BAER) is an aerial firefighting services company that operates amphibious Super Scooper aircraft and surveillance platforms to suppress and monitor wildfires. Revenue comes from short, medium, and long-term contracts with U.S. federal agencies, including the U.S. Forest Service (USFS) and Department of the Interior (DOI), as well as state governments across fire-prone regions of North America. The company operates across three disclosed revenue segments: aerial surveillance ($17.4 million, FY2025), maintenance, repair, and overhaul (MRO) services ($21.5 million, FY2025), and other services ($4.1 million, FY2025). Automatically renewing government contracts provide a degree of revenue stability. Bridger went public via reverse recapitalization with Jack Creek Investment Corp. on January 24, 2023. As of the 10-K filed March 6, 2026, CEO Sam Davis leads the company, with Eric Gerratt serving as CFO. The company owned and leased approximately 170,000 square feet of floor space across three locations as of December 31, 2025.

Revenue model

Contract-based revenue from U.S. federal and state government agencies for aerial firefighting and surveillance services. Three segments reported for FY2025: aerial surveillance ($17.4 million), MRO services ($21.5 million), and other services ($4.1 million). Contracts include short, medium, and long-term structures with automatic renewal provisions.

Products and services

Super Scooper amphibious aircraft (CL-415 platform) capable of scooping up to 1,412 gallons of water in approximately 12 seconds and delivering approximately 50,000 gallons per mission before refueling. Air Attack aerial surveillance fleet. Maintenance, repair, and overhaul (MRO) services, including return-to-service work on Spanish Scoopers under a services agreement with MAB, and maintenance work through Flight Test & Mechanical Solutions, Inc. (FMS), acquired June 2024. Third-party training and flight operations services.

Customers and end markets

Primary customers are U.S. federal agencies (USFS, DOI) and state governments in wildfire-prone states. End market is wildfire suppression and aerial surveillance for government fire management agencies. Business is highly seasonal, tied to the North American fire season.

Value-chain role

Direct aerial firefighting and surveillance service provider operating proprietary aircraft assets under government contract. Also performs MRO work on its own fleet and, under a services agreement, on aircraft owned by third parties such as MAB.

Geographic exposure

Primarily North America, with U.S. federal and state government contracts as the core revenue base. Spanish operations exist through wholly-owned subsidiary Albacete Aero, S.L., related to return-to-service work on Spanish Scoopers.

Competitors

Unnamed private aerial firefighting operator (manages four CL-415s, three Type II Dash 8-400ATs, and seven Avro RJ85s, per FY2025 10-K), Very Large Air Tanker (VLAT) operators, Large Air Tanker (LAT) operators, Fireboss single-engine amphibious scooper (Type III SEAT) operators, Type 1 helicopter operators

Source: SEC 10-K, filed 2026-03-06

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