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The helicopter market size is estimated to grow at a CAGR of 6% between 2023 and 2028. The market size is forecast to increase by USD 18.94 billion. The growth of the market depends on several factors such as the rising demand for technologically advanced combat helicopters, the introduction of new and modernized helicopters and the increasing demand for air ambulance services. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
This report extensively covers market segmentation by application (civil and commercial and military), type (light, medium, and heavy), and geography (North America, Europe, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges.
Helicopter 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. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The introduction of new and modernized helicopters is one of the major factors driving the growth of the global helicopter market. These new helicopters will have improved power, speed, and distance attributes and may even carry out missions autonomously. Helicopters should be fitted with the latest and modernized weapons and countermeasures, as they are crucial for the military and play vital roles in humanitarian missions. For instance, in 2021, the Leonardo AW139 intermediate twin-engine helicopter became the new Presidential Transport helicopter in the Republic of Colombia. In a special VVIP configuration, the aircraft is expected to be delivered in spring 2021 and will be operated by the Colombian Air Force. The supply of this helicopter will make the Colombian Air Force the first military customer of the type in the region and will expand the existing AW139 fleet in Colombia.
Similarly, the French Ministry for the Armed Forces also plans to order a total of 169 H160M helicopters by 2027 that bring new capabilities to the armed forces as it is adapted to modern warfare due to their increased connectivity, manoeuvrability, low acoustic footprint, and fully integrated support system. Thus, with the introduction of new and modernized helicopters, the global helicopter market is expected to grow during the forecast period.
The incorporation of advanced AI systems and automation capabilities in helicopters is one of the major trends driving the growth of the global helicopter market. Helicopters are now equipped with sensors for greater accuracy and precision while carrying out multiple tasks. The advanced control systems also ensure that these flying machines can be operated with maximum safety and reliability. Additionally, manufacturers began integrating advanced features to enhance safety, efficiency, and versatility. Modern helicopter designs have incorporated advanced automation capabilities, drastically reducing the need for manual labour and freeing up personnel to focus on more critical tasks. Automation also helps boost efficiency and reduce errors, allowing for faster turnaround times at construction sites.
Additionally, helicopters use less energy and generate fewer emissions than traditional ground-based cranes, making them an ideal choice for eco-friendly construction projects. Thus, by introducing advanced technologies and automation capabilities, helicopters are now more efficient, accurate, and reliable, thus driving the global helicopter market during the forecast period.
The high operational and maintenance costs are one of the major challenges hindering the growth of the global helicopter market. The maintenance and repair costs of a helicopter can be substantial. The older models need regular maintenance, such as oil changes and inspections, and can cost several thousand dollars per year, while major repairs, such as engine replacements, can cost up to tens of thousands of dollars. Further, another major expense for helicopter owners is fuel cost. This can vary widely depending on the type of helicopter and the frequency of use. For instance, a personal-use helicopter can use several hundred dollars of fuel per hour, while a larger commercial helicopter can use several thousand dollars of fuel per hour.
In addition, insurance cost is another important factor when owning and operating a helicopter. The cost of insurance can vary widely depending on the type of helicopter, the frequency of use, and the amount of coverage required. Thus, the increasing high operational and maintenance costs can hinder the growth of the global helicopter market during the forecast period.
The civil and commercial segment is estimated to witness significant growth during the forecast period. The civil and commercial segment is expected to witness a significant growth rate during the forecast period. Civil and commercial helicopters are used for applications such as aerial cranes, corporate shuttle and air taxi services, tourism, aerial photography, air ambulance, law enforcement, and oil and gas activities.
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The civil and commercial segment was the largest and was valued at USD 28.89 billion in 2018. The demand for civil helicopters is increasing from fleet operators owing to the adoption of helicopters in multiple applications, especially in APAC. China alone has more than 20 helicopter operators providing services for different applications, which include aerial surveys, corporate, emergency medical services, powerline patrol, firefighting, and others. The development of helicopters has been increasing over the past three years. For instance, in September 2021, Airbus announced its plans to launch a new City Airbus at the company's first Airbus Summit on Pioneering Sustainable Aerospace The Australian helicopter market is one of the largest and most important segments globally. Thus, with the increasing demand from civil and commercial segments, the global helicopter market is expected to grow during the forecast period.
Based on the type, the segment is classified into light, medium, and heavy. The light helicopter segment is expected to witness a significant growth rate during the forecast period. The use of small-sized helicopters for various transport applications is referred to as light helicopters. Further, light helicopters are used in the offshore sector to deliver workers, supplies, and equipment to ships, offshore platforms, and oil rigs. They are perfect for assisting with offshore activities because they can land on little helipads or even on water. Another important use of light helicopters is corporate transportation, particularly for VIPs, executives, and business people. By avoiding traffic and cutting down on travel time, these helicopters offer a practical and efficient mode of transportation. Technological advancements, such as the development of electric and hybrid propulsion systems, are also expected to drive innovation in the light helicopter segment. Thus, with the increasing demand in the light helicopter segment, the global helicopter market is expected to grow during the forecast period.
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North America is estimated to contribute 34% 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. North America region is expected to witness a significant growth rate during the forecast period. The helicopter supply chain is largely dependent on procurement from the government, air charter companies, and VIP/corporates. The increase in the adoption of helicopters for different applications increased its demand. Furthermore, advancements in helicopters led to the development of fuel efficiency, which increased regional sales. The US and Canada are the prominent nations in the regional helicopter market.
In addition, the presence of several helicopter manufacturing OEMs in the US led to the expansion of component suppliers for this region. Rockwell Collins, Honeywell International, and GE Aviation are among the major avionics suppliers for OEMs in this region. Canada's aerospace industry exports more than two-thirds of aerospace products to its global value chain. The high investments in R&D activities are making Canada one of the prominent countries in the helicopter market in North America during the forecast period.
The COVID-19 pandemic in 2020 had an adverse impact on several countries in the region. Countries such as the US, Canada, and Mexico were severely affected by the pandemic. However, in 2021, the manufacturing facilities resumed operations due to the large-scale COVID-19 vaccination programs in the region, which further helped in the resumption of construction, logging, firefighting, SAR, and EMS services. Thus, with the resumption of helicopter operations, the regional helicopter market is expected to grow 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.
Airbus SE - The company offers helicopters such as H125, military training H135, and Ach145.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Airbus SE, Bristow Group Inc., CHC Group LLC, Enstrom Helicopter Crop., Guangzhou EHang Intelligent Technology Co. Ltd., Helicopteres Guimbal S.A.S, Hill Helicopters Ltd., Hindustan Aeronautics Ltd., Kaman Corp., Kawasaki Heavy Industries Ltd., Leonardo Spa, Lockheed Martin Corp., MD Helicopter LLC, Northrop Grumman Corp., Robinson Helicopter Co. Inc., Rostec, Textron Inc., The Boeing Co., Volocopter GmbH, and Joby Aviation Inc.
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 helicopter 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.
Helicopter Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
Market Growth 2024-2028 |
USD 18.94 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.45 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 34% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Airbus SE, Bristow Group Inc., CHC Group LLC, Enstrom Helicopter Crop., Guangzhou EHang Intelligent Technology Co. Ltd., Helicopteres Guimbal S.A.S, Hill Helicopters Ltd., Hindustan Aeronautics Ltd., Kaman Corp., Kawasaki Heavy Industries Ltd., Leonardo Spa, Lockheed Martin Corp., MD Helicopter LLC, Northrop Grumman Corp., Robinson Helicopter Co. Inc., Rostec, Textron Inc., The Boeing Co., Volocopter GmbH, and Joby Aviation Inc. |
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. |
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. |
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