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The air ambulance market size is estimated to grow at a CAGR of 10.05% between 2023 and 2028. The market size is forecast to increase by USD 6.77 billion. The growth of the market depends on several factors such as increasing prevalence of infectious diseases, the growing geriatric population and advanced onboard medical treatment.
The report includes a comprehensive outlook on the air ambulance market offering forecasts for the industry segmented by Service, which comprises hospital-based service, community-based service, and others. Additionally, it categorizes Aircraft Type into rotary-wing aircraft and fixed-wing aircraft and covers Geography regions, including North America, APAC, Europe, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
Air Ambulance Market Forecast 2024-2028
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Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Multi-drug resistance (MDR) among microorganisms and the rise of new bacterial and viral diseases are the primary causes of infectious diseases across the world. For instance, an infectious disease-causing pneumonia was detected in the city of Wuhan in Hubei province, China, in December 2019. The number of patients in China increased rapidly from December 2019 to January 2020. In January 2020, the WHO confirmed the outbreak of the coronavirus disease (COVID-19) caused by the novel coronavirus (2019-nCoV). The disease spread to more than 106 countries by the end of March 2020.
In addition, the rapidly growing population, lifestyle changes, urbanization, civil wars, and climate change have increased the prevalence of infectious diseases. The increasing demand for emergency medical relief, as well as the need for quick transfers to medical facilities to save the lives of patients, are boosting the demand for air ambulance services. Thus, the increasing prevalence of infectious diseases is expected to fuel the growth of the market during the forecast period.
Participation in recreational activities, such as trekking, hiking, swimming, rafting, and paragliding, and the popularity of adventure tourism have witnessed a surge across the world. These activities attract high-value customers and support the growth of local economies. Tourism boards worldwide are incorporating adventure-based activities to create a unique brand identity. The increasing participation in recreational and adventurous activities has led to a rise in recreational injuries, such as sprains and strains, fractures, and severe head injuries resulting from accidental falls. Severe injuries require an immediate visit to a health center. Thus, the evacuation of the patient from the accident zone may require air ambulances.
Moreover, the rising population engaging in recreational activities has increased injury risks, particularly for children aged under 18 years. Sports and recreational injuries increased 12% in 2022. Timely care given during such injuries will increase the demand for air ambulances, thereby driving the air ambulance market during the forecast period.
Helicopter emergency medical services (HEMS) can pick up patients directly from the accident site or from a place in proximity, as it is relatively easier for a helicopter to land in remote areas. However, in some cases, airlifting critical patients in remote locations is perilous because of inclement weather conditions. Such operational limitations, therefore, restrict the feasibility of successfully transporting a patient to a healthcare service provider. In addition, there have been instances where technological limitations such as low visibility have restricted HEMS from undertaking medical transportation at night.
Additionally, in India, insurance service providers do not cover the cost of transporting patients to healthcare establishments, which hinders the growth of the air ambulance market in the country. In addition, there is a lack of infrastructure needed for air ambulances to work efficiently. Hospitals in India lack landing pads for helicopters, which is a challenge for service providers in terms of providing point-to-point air ambulance services, thereby hampering the growth of the air ambulance market during the forecast period.
The market share growth by the hospital-based service segment will be significant during the forecast period. The hospital-based service model provides air medical transportation services to multi-specialty hospitals and other healthcare centers. Under this model, the hospital owns the medical program and provides medical staff, including doctors, nurses, and communications facilities.
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The hospital-based service segment was the largest and was valued at USD 5.44 billion in 2018. Major hospitals follow the hospital-based program to provide helicopter ambulance services to patients who are in an emergency in remote areas; carry specialized medical crew, medical equipment, and machines to outlying hospitals; and transport medical evacuation patients at high risk to hospitals for improved treatment. For instance, St. Louis University Hospital leases helicopter ambulance services for its hospital-based model. In such cases, hospitals outsource helicopters and pilots from a third-party company, whereas the medical support team, equipment, and medicines are provided by the hospital or healthcare provider. In some regions across the globe, there is an increasing need for air ambulance services in the transport of patients rapidly to specialty hospitals due to a lack of specialist care and health physicists. Thus, the hospital-based service segment is expected to fuel the growth of the air ambulance market during the forecast period.
Based on aircraft Type, the market has been segmented into rotary-wing aircraft and fixed-wing aircraft. The rotary-wing aircraft ?segment will account for the largest share of this segment.? Rotary-wing air ambulance is used for pre-hospital emergency medical care and transportation. This aircraft has medical support, a patient care team, and medical equipment and supplies to provide care during inter-hospital transfers. Helicopters are more popular for their use in air medical evacuation services than fixed-wing aircraft. Air Methods Corp. (Air Methods) has over 300 rotary-wing aircraft, which account for 93% of its fleet size. Helicopters can hover, take off and land vertically, and fly reverse and sideways. In addition, their operational cost is much lower than fixed-wing aircraft. The cost-effectiveness, quick response time, and versatility are expected to fuel the growth of the rotary-wing aircraft segment, thereby driving the air ambulance market during the forecast period.
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North America is estimated to contribute 49% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The demand for air ambulance services has grown significantly since 2000. In 2002, there were approximately 400 air ambulances, and in 2020, there were almost 1,114 air ambulances to cater to approximately more than 550,000 patients in the US every year. Such growth of the air ambulance market in North America can be attributed to the ageing population, a decline in the number of emergency departments in existing hospitals, and changes in the delivery of healthcare in rural settings. According to the Government Accountability Office (GAO), Medicare and Medicaid payments accounted for around 30% and 12% of the market revenue, respectively. Also, the growth of the air ambulance market has been observed in Central America owing to the presence of prominent vendors such as Horizon Jets Charter Inc., Air Methods Corp., PHI Inc., IAS Medical Ltd., Acadian Ambulance Service Inc., and others in this region providing air ambulance services.
For instance, Air Methods Corpo., an American privately owned helicopter operator, announced an agreement with HealthPartners, a consumer-governed, non-profit establishment, in November 2020, by launching a new air ambulance to provide discounted air ambulance service to HealthPartners plan members in Dakota, Minnesota, Illinois, and beyond. Such launches are expected to fuel the demand for air ambulances, thereby driving the air ambulance market in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Air charter service group ltd - The company offers Air Ambulance services with ground ambulances experts of pilots and medical team.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including Air charter service group ltd, Air Methods Corp., Air Rescuers World Wide Pvt Ltd., American Air Ambulance, Augsburg Air Ambulance, Babcock International Group Plc, EMSOS Medical Pvt. Ltd., Express Air Medical Transport LLC, Falcon Emergency, Horizon Jets Charter Inc., IAS Medical Ltd., KKR and Co. Inc., Life Savers Ambulance Services, Luxembourg Air Rescue Asbl, Medical Air Service, Medivic Pharmaceutical Pvt. Ltd, PHI Inc., REVA Inc., Acadian Ambulance Service Inc., and Air Ambulance Worldwide
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The air ambulance market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Air Ambulance Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.05% |
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Market Growth 2024-2028 |
USD 6.77 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.63 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 49% |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Air charter service group ltd, Air Methods Corp., Air Rescuers World Wide Pvt Ltd., American Air Ambulance, Augsburg Air Ambulance, Babcock International Group Plc, EMSOS Medical Pvt. Ltd., Express Air Medical Transport LLC, Falcon Emergency, Horizon Jets Charter Inc., IAS Medical Ltd., KKR and Co. Inc., Life Savers Ambulance Services, Luxembourg Air Rescue Asbl, Medical Air Service, Medivic Pharmaceutical Pvt. Ltd, PHI Inc., REVA Inc., Acadian Ambulance Service Inc., and Air Ambulance Worldwide |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Service
7 Market Segmentation by Aircraft Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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