Pune, India, May 06, 2021 (GLOBE NEWSWIRE) -- The global helicopter market size is expected to reach USD 68.34 billion till 2027. This information is published by Fortune Business Insights™, in its report, titled, “Helicopter Market, 2020-2027.” Moreover, the report further states that the market stood at USD 48.19 billion in 2019 and is estimated to showcase a CAGR of 6.96% during the forecast period which is 2020-2027.
The rising demand for sturdy systems and modern technologies used in aviation manufacturing is estimated to propel market growth. The emerging economies are observed to be making drastic changes in infrastructure facilities and investing heavily on it is and is estimated to report remarkable progress during the forecast period. The surging demand for rotorcraft is another major factor positively affecting the growth. For instance, Airbus SAS has predicted that there will be a huge demand for around 22,000 new rotorcrafts in the next 20 years.
COVID-19 to Change the Dynamics of the Helicopter Market
The global pandemic of Covid-19 impacted the market all over. During the unfortunate series of lockdowns, governments of all regions implemented stringent rules and norms to help dwindle the spread of the virus. One such condition was ceasing borders. Due to the closure of international borders, transportation and the supply chain process were disrupted. All this concludes down to budget freeze and struggles with cash flow in the first quarter of 2020.
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Report Coverage
The report provides a thorough study of the market segments and detailed analysis of the market overview. A profound evaluation of the current market trends as well as the future opportunities is presented in the report. It further shares an in-depth analysis of the regional insights and how they shape the market growth. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better. It sheds light on the key players and their prominent strategies to stay in the leading position.
Segmentation
On the basis of type, the global helicopter market is divided into civil & commercial and military. By application, the market is classified into emergency medical service (EMS), corporate services, search and rescue operations, oil and gas, defense, and homeland security. Based on system analysis, the market is segregated into airframe, engine, avionics, landing gear system, and cabin interiors. Geographically, the market is separated into North America, Europe, Asia Pacific, and the Middle East & Africa.
By Point of Sale: the global market is categorized into OEM and aftermarket. Between the two, OEM is estimated to hold majority helicopter market share in the upcoming years. This is owing to the high demand for advanced technological military and commercial helicopters in the Asian region, specifically in nations such as China and India.
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Drivers and Restraints
Increased Defense Budget to Bolster the Global Helicopter Market Growth
The border conflicts among several nations, especially China and India have raised a security concern among their military officials. To resolve this dispute both nations have bolstered their border security, constantly monitoring the situation, and enhancing combating capabilities. On account of this factor, governments of several nations have surged their defense-related budget. For instance, according to Stockholm International Research Institute, there is a rise in military spending of about 3.6% in 2019 in comparison to that of 2018.
Regional Insights
North America Projected Stellar Revenue Report worth USD 141.41 Billion in 2019
North America generated a revenue of USD 14.41 billion in the year 2019. The growth is owing to the number of shares held by North America and the key players present in this region along with the government budget funding reserved for defense activity and military rotorcraft. The rising demand for rotorcraft in air ambulance form and military helicopters for rescue purposes is expected to boost the regional market growth during the forecast period.
Europe is expected to witness substantial growth with a rising CAGR growth rate owing to the surging awareness regarding advanced technology rotary-wing helicopters and aircraft. This factor is estimated to fuel market growth in the upcoming years.
The Asia Pacific is anticipated to showcase remarkable growth on account of the key players investing in commercial helicopters in leading nations of this region such as China and India.
Competitive Landscape
Efficient Agreements between Government Bodies and Companies Likely to Promote Growth
The prominent players in the market keenly study the market and plan strategies in accordance to their expert advisors. One such efficient strategy to bolster the brand position in the market along with enhancing the position of other players is by introducing mergers with companies from the same or different domain.
June 2020: Lockheed Martin Corporation signed an agreement worth USD 375 million with the Indian Navy. The contract stated that the customization of the warfare anti-submarine aircraft 24 Sikorsky MH-60R will be done by the involved company.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights - Impact of COVID-19 Pandemic on Global Helicopter Market
- Impact of COVID-19 on Global Helicopter Market
- Steps Taken by Industry/Companies/Governments to Overcome the Impact
- Potential Opportunities Due to COVID-19 Outbreak
- Key Development Post CVOVID-19 Pandemic
- Global Helicopter Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Civil & Commercial
- Military
- Market Analysis, Insights and Forecast – By Application
- Emergency Medical Service (EMS)
- Corporate Services
- Search and rescue operations
- Oil and gas
- Defense
- Homeland Security
- Others
- Market Analysis, Insights and Forecast – By System
- Airframe
- Engine
- Avionics
- Landing Gear System
- Cabin Interiors
- Market Analysis, Insights and Forecast – By Point of Sale
- OEMs
- Aftermarket
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
TOC Continued…!
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Offshore Helicopter Services Market Size, Share & Industry Analysis, By Type (Light Weight, Medium Weight, and Heavy Weight), By Application (Inspection, Monitoring and Surveying, Passenger Transport, Goods Transport, Search and Rescue, and Others), and Regional Forecast, 2019-2026
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