USD 35.78 billion
Report ID:
SQMIG20A2189 |
Region:
Global |
Published Date: September, 2024
Pages:
202
|Tables:
65
|Figures:
75
Global Helicopters Market size was valued at around USD 30.5 billion in 2022 and is expected to rise from USD 32.3 billion in 2023 to reach a value of USD 51.9 billion by 2031, at a CAGR of 6.1% over the forecast period (2024–2031).
The global helicopter market is experiencing significant growth globally. Our report contains detailed information on the value chain analysis for the helicopter market, which manufacturers can use to gain a competitive edge during the projected period. Helicopters play a crucial role in providing rapid medical assistance and transportation, particularly in remote areas or during natural disasters where accessibility by traditional means is challenging.
Despite the market's positive growth trajectory, there are several challenges and restraints to be considered. The high acquisition and maintenance costs associated with helicopters pose a significant barrier, particularly for smaller organizations and emerging economies. The stringent regulatory requirements governing helicopter operations, including safety standards, airworthiness certifications, and pilot qualifications, also add to the challenges.
Safety concerns and accidents are another factor that impacts market growth, as they raise questions about the reliability and safety of helicopters. the increasing demand for emergency medical services, investments in defense and military sectors, and the offshore oil and gas industry. Technological advancements have also played a significant role in enhancing the performance and capabilities of helicopters. However, challenges related to high costs, regulatory requirements, and safety concerns should be addressed to sustain and further expand the market. The market's future growth will be influenced by ongoing innovations, emerging trends such as electric and hybrid helicopters, and the demand for autonomous and unmanned solutions in various applications.
Technological advancements in helicopter design have played a significant role in the market's expansion. Manufacturers are continuously investing in research and development to enhance the performance, safety, and operational efficiency of helicopters. Innovations in rotor blade design, propulsion systems, avionics, and materials have led to the development of advanced helicopters with improved capabilities. These advancements have not only increased the operational efficiency but also reduced the environmental impact of helicopters, making them more attractive to buyers.
US Helicopter Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 35.78 billion
Largest Segment
medium helicopters
Fastest Growth
medium helicopters
Growth Rate
13.43% CAGR
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Global Helicopters Market is segmented by Point of Sale, OEM by Type, OEM by Application, OEM by Component & System, OEM by number of engines, Aftermarket by Component & System, and region. Based on point of sale, the market is segmented into OEM, and Aftermarket. Based on OEM by type, the market is segmented into Military ( Heavy Helicopters ( >8.5 Tons), Medium Helicopters (4.5 -8.5 Tons), Light Helicopters ( <4.5 Tons)), Civil & Commercial (Heavy Helicopters ( >9.0 Tons), Medium Helicopters (3.1 –9.0 Tons), Light Helicopters ( <3.1 Tons). Based on OEM by application, the market is segmented into Military (Attack & Reconnaissance Helicopters, Transport Helicopters, Maritime Helicopters, Training Helicopters, Search & Rescue Helicopters), Civil & Commercial (Transport Helicopters, Civil Utility Helicopters, Emergency Rescue & Medical Support Helicopters, Offshore Helicopters). Based on OEM by Component & System, the market is segmented into Airframe (Aerostructures (Windows, Windshields), Main Rotor Systems, Cabin Interiors, Anti-torque Systems, Transmission Systems (Reduction Gearboxes, Turbine Filters), Electrical Systems, Hydraulic Systems, Avionics, Stability Augmentation Systems, Flight Control Systems, Undercarriages, Environment Control Systems, Emergency Systems (Critical Aspect For Protecting Helicopters From Capsizing, Flotation Systems, Egress Lighting), Special-purpose Systems, (Emergency Medical Systems, Combat Systems, Flight Rescue Systems), Cabin Interiors (Interior Lights, Seats), Engines. Based on OEM by number of engines, the market is segmented into Twin Engines, Single Engines. Based on Aftermarket by Component & System, the market is segmented into Aerostructures (Windows And Windshields, Doors), Main Rotor Systems (Main Rotor Blades, Tail Rotor Blades), Avionics, Landing Gear Systems (Skids & Bear Paws, Tires), Emergency Systems, Cabin Interiors (Lights, Seats, Noise Reduction Systems, Insulation Systems), Actuators, and Filters. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis By Type
The largest market segment in the helicopter industry is the medium helicopter segment. Medium helicopters have higher payload capacities and greater range capabilities compared to light helicopters. They find applications in various sectors, including offshore oil and gas exploration, corporate transportation, law enforcement, and military operations. The demand for medium helicopters is driven by factors such as the growth of the offshore oil and gas industry, the need for efficient corporate transportation, and the demand for versatile helicopters in military and law enforcement applications.
On the other hand, the fastest-growing segment in the helicopter market by type is the light helicopter segment. Light helicopters are designed for transportation of a small number of passengers and cargo over short distances. They are widely used in tourism, personal transportation, aerial photography, and law enforcement. The increasing adoption of light helicopters for emergency medical services (EMS) and air ambulance applications has further fueled the demand. The growth of the light helicopter segment is driven by factors such as the rising use of helicopters in the tourism industry, advancements in lightweight materials, improved fuel efficiency, and technological advancements.
Analysis By Application
The largest market segment in the helicopter industry by application is the defense and military segment. The defense and military sector accounts for a significant portion of the helicopter market. Helicopters are vital for military operations, including troop transport, reconnaissance, search and rescue missions, and combat support. The demand for helicopters in defense and military applications is driven by governments' investments in modernizing their defense forces and the need for versatile and efficient aerial platforms.
On the other hand, the fastest-growing segment in the helicopter market by application is the emergency medical services (EMS) segment. Helicopters play a crucial role in providing rapid medical assistance and transportation, particularly in remote areas or during natural disasters where accessibility by traditional means is challenging. The ability of helicopters to swiftly reach accident or disaster sites, transport patients to hospitals, and facilitate organ transportation has significantly contributed to the growth of the EMS segment.
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The largest market region in the global helicopter market is North America. North America has a dominant position in the helicopter industry, driven by factors such as the presence of major helicopter manufacturers, robust defense and military spending, and a developed infrastructure for various applications. The United States, in particular, accounts for a significant share of the North American market, with a strong demand for helicopters in defense and military operations, offshore oil and gas exploration, emergency medical services, and law enforcement. Additionally, North America has a mature tourism industry that contributes to the demand for helicopters in aerial sightseeing and transportation.
On the other hand, the fastest-growing region in the helicopter market is the Asia Pacific. The Asia Pacific region has been witnessing rapid economic growth, which has led to increased investments in various sectors, including defense, infrastructure development, and tourism. Countries like China, India, and Japan have emerged as key growth markets in the region. The expanding middle-class population, rising disposable incomes, and growing tourism industry have fueled the demand for helicopters in the Asia Pacific.
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Drivers
Increasing Demand For Emergency Medical Services
Restraints
High Acquisition And Maintenance Costs
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The competitive landscape of the helicopter market is characterized by the presence of several global and regional players, each striving to gain a competitive edge and capture a significant market share. The competitive landscape is characterized by the presence of established global manufacturers, regional players, and strategic partnerships. The market is driven by continuous innovation, technological advancements, and a focus on meeting specific customer requirements. These companies have established themselves as leaders in the market, leveraging their extensive experience, technological capabilities, and strong brand reputation.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, The Helicopter market is poised for significant growth in the coming years, driven by various factors and offering substantial future scope. The helicopter market holds promising future prospects, driven by factors such as increasing demand for emergency medical services (EMS), technological advancements, and the pursuit of sustainable aviation. The EMS segment is expected to witness significant growth due to the crucial role helicopters play in providing rapid medical assistance and transportation, particularly in remote and inaccessible areas. Moreover, the market is witnessing a shift towards electric and hybrid propulsion systems, which offer reduced emissions, lower operating costs, and improved fuel efficiency. This trend aligns with the industry's commitment to sustainability and the global focus on cleaner transportation solutions. The medium helicopter segment remains the largest in the market, catering to diverse applications such as offshore oil and gas exploration, corporate transportation, and military operations. However, the light helicopter segment is experiencing the fastest growth, driven by the rising popularity of helicopters in tourism and advancements in lightweight materials and technology. North America dominates the helicopter market, with a strong presence of major manufacturers and a robust defense and military sector. The region benefits from established infrastructure and a mature tourism industry. Looking ahead, the helicopter market is poised for continuous growth, fueled by advancements in technology, emerging economies' demand, and the increasing need for versatile aerial platforms across various industries.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 30.5 billion |
Market size value in 2031 | USD 51.9 billion |
Growth Rate | 6.1% |
Base year | 2023 |
Forecast period | 2024–2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Helicopter Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Helicopter Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Helicopter Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Helicopter Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG20A2189