style="text-align:justify">The commercial end use segment is estimated to witness an upward trend during 2021 to 2027 driven by the increasing adoption of commercial helicopters in tourism, offshore, and transportation helicopter services. In 2020, around 550 commercial helicopters were sold in the U.S. The commercial helicopters will see surging demand from oil & gas and offshore segments led by the varied usage of these helicopters in inspection and maintenance of offshore oil rigs.
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The Europe avionics segment accounted for around 20% of the helicopter market share in 2020. The growing market trend of technologically upgrading the existing system is augmenting the demand for the avionics segment. These systems allow to function within recognized safety parameters and to track and report performance measures.
Key players operating in the helicopter industry are upgrading their systems with advanced avionics components. For instance, in March 2019, Honeywell introduced a new communication technology Aspire 200 satellite communications system for Bell B429 helicopter.
The Europe OEM segment held more than 75% of the helicopter market share in 2020 propelled by the increasing adoption in commercial and military sectors. OEMs including Airbus Helicopters SAS, Bell Helicopter, Boeing, Mitsubishi Heavy Industries, Kawasaki Heavy Industries, and Leonardo S.p.A. are the major manufacturers catering to the changing demand.
Leading manufacturers majorly focus on introducing products to enhance their product line and comply with the changing end-user requirements. For instance, in August 2020, Airbus Helicopters SAS introduced a new Lakota helicopter fleet to the U.S. Army and National Guard. The company launched UH-72B Lakota. The acceptance of helicopters in the military sector will spur the market revenue during the forecast timeline.
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The North America helicopter market valued at around USD 10 billion in 2020 Impelled by rapidly increasing recreational activities in the region. Increasing air sports activities such as aerobatics, parachuting, and paragliding are generating lucrative growth opportunities.
The presence of various prominent players, such as Bell Textron, Boeing, Lockheed Martin, MD Helicopters, and Robinson Helicopter Company, in the region is anticipated to enhance the market share. These players focus majorly on building new long-term strategic partnerships to new business avenues and enhance their revenues. For instance, in December 2020, MD Helicopters, Inc. and the U.S. Army signed an agreement to provide logistics support for the MD 530F Cayuse Warrior reconnaissance and light attack helicopter fleet for Afghanistan Air Force. The agreement is worth USD 34 million, contributing positively to the accelerating market revenues.