Vancouver, Oct. 09, 2023 (GLOBE NEWSWIRE) -- Global helicopter market size reached USD 20.17 Billion in 2020 and is expected to register a significantly rapid revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Increasing use of advanced technology such as electronic thrust in helicopters is one of the major factors expected to continue to drive market revenue growth.
Drivers:
The use of advanced technology and lightweight systems and components have helped
to reduce overall weight and cost of helicopters. Lightweight helicopters are produced by companies such as Hindustan Aeronautics Limited (HAL) and Airbus SAS for tourist, corporate service, and search and rescue operations. Industries are working to reduce the overall weight of helicopter engines in order to cut down on fuel consumption.
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Restraints:
Helicopters were utilized for a wide range of purposes before the drone era, including media, entertainment, advertising, agricultural, emergency management and disaster response, and forest monitoring. Drones, on the other side, can now perform the same functions with reduced maintenance expenses. Therefore, drones have reduced the use of helicopters in various applications.
Growth Projections:
Global helicopter market revenue is expected to expand at a CAGR of 10.9% over the forecast period and grow from USD 20.17 Billion in 2019 to USD 67.84 Billion in 2032. Increasing demand for lightweight helicopters is one of the driving factors for the market revenue growth.
COVID-19 Impact Analysis:
The COVID-19 pandemic and subsequent lockdowns had a negative impact on the market in manufacturing and supply chain industry. The pandemic had a negative impact on the helicopter market, leading in revenue reduction for various helicopter suppliers and service providers across all markets due to late deliveries, production slowdowns, reduced employees at manufacturing facilities, and limited availability of equipment. However, after relaxation of lockdowns and lifting of more stringent social distancing norms, the market is returning to its pre-pandemic stage.
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Current Trends and Innovations:
Governments in countries in Asia Pacific are trying to replace their aging fleets with technologically advanced helicopters. Bell and Airbus will be certified with FAA, with Bell 525 and ACH160 coming up with new features. Leonardos AW609 is on its third generation of design. The major companies are focusing on the technologies to make more advanced helicopters which will contribute to growth of market revenue share and also to technology advancements. The rapid evolution of modern warfare has led countries to allocate more resources to their defense expenditure in order to invest in the development of powerful advanced technologies.
Geographical Outlook:
Helicopter market in North America is expected to register a steady revenue growth rate over the forecast period. Due to, Governments of countries in the region have increased their military budget in order to invest in the development of highly advanced technologies due to the obvious rapid growth of modern warfare.
Strategic Initiatives:
Some major companies included in the market report include Airbus Helicopters SAS, Leonardo S.p.A, Bell Textron Inc., The Boeing Company, JSC Russian Helicopters, Lockheed Martin Corporation, Schweizer Aircraft, Bristow Group Inc., Carson Helicopters Inc, and Robinson Helicopter Company.
- In November 2021, Bell Textron Inc. announced their sale for the first Bell 505 NXi in Slovakia to Wellpharma S.R.O., making it the second Bell 505 sale in the country.
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Scope of Research
| Report Details | Outcome |
| Market size in 2020 | USD 20.17 Billion |
| CAGR (2023–2032) | 10.9% |
| Revenue forecast to 2032 | USD 67.84 Billion |
| Base year for estimation | 2020 |
| Historical data | 2018–2019 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, component and system, engine, application, weight, point of sale, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | US, Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | Airbus Helicopters SAS, Lockheed Martin Corporation, Leonardo S.p.A, Bell Textron Inc., The Boeing Company, JSC Russian Helicopters, Schweizer Aircraft Corp., Bristow Group Inc., Carlson Helicopter Inc., Robinson Helicopter Company |
| Customization scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global helicopter market is fairly fragmented, with a number of large and medium-sized companies accounting for majority revenue. Major companies are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective helicopters in the market. Some major companies included in the market report are:
- Airbus Helicopters SAS
- Lockheed Martin Corporation
- Leonardo S.p.A
- Bell Textron Inc.
- The Boeing Company
- JSC Russian Helicopters
- Schweizer Aircraft Corp.
- Bristow Group Inc.
- Carlson Helicopter Inc.
- Robinson Helicopter Company
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Emergen Research has segmented helicopter market on the basis of type, components and system, engine, application, weight, point of sale, and region:
- Type Outlook (Revenue, USD Billion; 2019–2032)
- Military
- SAR
- Attack Helicopter
- Anti-Submarine Warfare,
- Transport Helicopter
- Civil and Commercial
- Component and System Outlook (Revenue, USD Billion; 2019–2032)
- Avionics
- Engines
- Airframe
- Cabin Interiors
- Emergency System
- Landing Gear System
- Aerostructures
- Main Rotor System
- Engine Outlook (Revenue, USD Billion; 2019–2032)
- Single Engine
- Twin Engine
- Application Outlook (Revenue, USD Billion; 2019–2032)
- Oil and Gas
- Defense
- Search and Rescue Helicopters
- Civil Utility Helicopters
- Transport Helicopters
- Emergency Medical Service (EMS)
- Weight Outlook (Revenue, USD Billion; 2019–2032)
- Light
- Medium
- Heavy
- Point of Sale Outlook (Revenue, USD Billion; 2019–2032)
- Aftermarket
- OEM
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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