Pune, India, June 15, 2023 (GLOBE NEWSWIRE) -- The global helicopter services market size was valued at USD 14.15 billion in 2022. The market is slated to expand from USD 15.62 billion in 2023 to USD 23.80 billion by 2030, exhibiting a CAGR of 6.2% over the projected period. The rise can be attributed to the increasing deployment of helicopter services for various applications including transportation of passengers and goods, search and rescue operations, and emergency medical services.
Fortune Business Insights™ provides this information in its research report, titled “Helicopter Services Market, 2023-2030”.
COVID-19 Impact:
Industry Share Affected Due to Travel Restrictions and Lockdowns
The COVID-19 pandemic significantly affected the product demand driven by the enforcement of lockdown restrictions and decreased economic activity. The pandemic also affected the global demand for tourism, offshore helicopter services, and emergency medical services. Furthermore, the rising demand for renewable energy could create new market opportunities for helicopter services in the wind energy sector.
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List of Key Players Mentioned in the Helicopter Services Report:
- Bristow Group Inc. (U.S.)
- Air Methods Corporation (U.S.)
- Petroleum Helicopters International Inc. (U.S.)
- CHC Helicopter Group (U.S.)
- Babcock International Group plc (U.K.)
- Global Medical Response Inc. (U.S.)
- Abu Dhabi Aviation Co. (UAE)
- Gulf International Services QPSC (UAE)
- Erickson Incorporated (U.S.)
- CITIC Offshore Helicopter Co. Ltd. (China)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 6.2% |
| 2030 Value Projection | USD 23.80 billion |
| Market Size in 2023 | USD 15.62 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Helicopter Services Market Growth Drivers | Rising Demand for Emergency Medical Services (EMS) to Propel the Market Growth |
| Growing Demand for Urban Air Mobility (UAM) is Projected to Boost Market Growth |
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Segmentation:
Light Segment to Gain Traction Driven by Rising Demand from End-user Industries
Based on type, the market is segmented into heavy, medium, and light. The light segment is anticipated to grow at an appreciable pace over the forecast period. The rise can be credited to the increasing demand for aerial photography, sightseeing, and other applications.
Air Ambulance Segment to Register Considerable Growth Owing to Growing Healthcare Expenditure
By application, the market is subdivided into business and corporate travel, air ambulance, offshore, transport, disaster and humanitarian aid, surveying and aerial imaging, and others. The air ambulance segment is projected to register substantial growth throughout the study period. The rise is driven by the increasing helicopter demand in healthcare applications.
Civil Segment to Emerge Prominent Impelled by Escalated Demand for Air Transportation and Emergency Services
On the basis of end user, the market is segmented into military, commercial, and civil. The civil segment is slated to grow at a considerable pace over the study period. The rise is due to the escalating helicopter demand for emergency services.
By geography, the market has been studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report provides an analysis of the vital factors impelling the global business scenario throughout the study period. It also provides an account of the key trends driving the market expansion over the forecast period. Some of the other aspects include merger agreements, acquisitions, and the rollout of new solutions.
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Drivers and Restraints:
Market Share to Surge Driven by Growing Emergency Medical Services (EMS) Demand
One of the key factors boosting the helicopter services market growth is the escalating demand for EMS. The vehicles are extensively utilized for emergency medical transportation as they can reach hard-to-reach or remote areas and transport patients to hospitals on time.
However, the market growth is likely to be affected due to various factors such as stringent regulatory framework and high cost of operation.
Regional Insights:
North America to Register Appreciable Surge Driven by Rising Demand for Aerial Firefighting
The North America helicopter services market share is slated to register appreciable expansion over the anticipated period. The rise is driven by the growing demand for aerial firefighting services in the region.
The Europe market is set to record substantial growth throughout the estimated period. The escalation is due to the rising demand for Search and Rescue (SAR) operations.
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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
- Impact of COVID-19 Pandemic
- Global Helicopter Services Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definition
- Market Analysis, Insights and Forecast – By Type
- Light
- Medium
- Heavy
- Market Analysis, Insights and Forecast – By Application
- Offshore
- Air Ambulance
- Business and Corporate Travel
- Disaster and Humanitarian Aid
- Transport
- Surveying and Aerial Imaging
- Other
- Market Analysis, Insights and Forecast – By End User
- Civil
- Commercial
- Military
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia-pacific
- South America
- Middle East & Africa
TOC Continued…!
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Competitive Landscape:
Leading Industry Participants Focus on Mergers and Acquisitions to Strengthen Market Position
Key players are centered on the formulation and implementation of acquisitions, merger agreements, and the launch of new products. These initiatives are being adopted for strengthening their business positions. Some of the other steps include an upsurge in research activities and the development of superior equipment.
Key Industry Development:
July 2022 – U.K.-based leading provider of aviation services, Bristow Helicopters Ltd., was awarded a contract of USD 1.9 billion by the MCA (Maritime and Coastguard Agency) for the second-gen search and rescue (UKSAR2G) program for a period of 10 years.
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