Helicopters Market worth over $55 Bn by 2026
Published Date: February 28, 2020 Authors: Ankita Bhutani, Preeti Wadhwani
Helicopters Market size is set to exceed USD 55 billion by 2026; according to a new research report by Global Market Insights, Inc.
The helicopters market growth is due to increased demand from Emergency Medical Services (EMS) for helicopters and rise of defense expenditure for homeland security, accelerating the market demand. The increasing use of helicopters for commercial applications owing to their several advantages, such as safety, high reliability, and ease of operating the system, will support the industry growth.
Moreover, growth in the market can also be attributed to increasing defense budgets that enhances helicopter fleets of the defense sectors. The rising geopolitical tension and rising demand for advanced helicopters are driving the market revenue. Several countries are collaborating with industry participants to enhance their capabilities including air surveillance & navigation.
Engine segment to dominate the market size due to increasing investments in research & development
The engine segment is poised to grow exponentially through 2026 on account of its necessity in helicopters, indirectly supporting the market growth. Industry participants are actively investing in research & development activities to design effective & efficient helicopter engines.
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Rising demand for offshore and oil & gas applications is expected to drive helicopters market size
The commercial helicopter segment held a market share of over 65% in 2019 owing to its use in a wide range of applications including tourism, ambulance services, and emergency rescue. The offshore and oil & gas sectors are anticipated to drive the industry share due to wide usage of commercial helicopters in maintenance & inspection of offshore oil rigs.
Furthermore, the growing demand for oil & gas exploration and rising deep-water offshore exploration activities in several regions including Latin America and the Middle East & Africa are supporting the market growth.
Browse key industry insights spread across 240 pages with 281 market data tables & 37 figures & charts from the report, “Helicopters Market Size By Component (Aerostructures/Airframe, Rotary System, Engine, Undercarriage, Avionics, Cabin Interiors, Environmental Control System), By End-Use (Commercial [Transport, Medical Services/ Search & Rescue, Offshore Sector], Military [Reconnaissance, Maritime Surveillance]), By Sales Channel (OEM, MRO), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
North America to dominate the market share supported by increasing military investment and presence of key manufacturers
The North America helicopters industry is anticipated to hold a large revenue share during the forecast period propelled by increase in military expenditure on helicopters and increasing demand for emergency medical service helicopters. These factors will propel the market share over the coming years.
Furthermore, several other factors, such as increasing demand for law enforcement, border security, and search & rescue operations, are supporting the industry size.
The defense sectors of various countries are offering contracts to industry players to develop technologically advanced components, enhancing the global market revenue.
Major players operating in the helicopters market include Airbus Helicopters S.A.S., Babcock International Group PLC, Bell Helicopter, CHC Helicopter, Gulf Helicopters, Hindustan Aeronautics Limited (HAL), Joby Aviation, Kaman Corporation, Karem Aircraft, Kawasaki Heavy Industries, Ltd., Lockheed Martin Corporation, Lufttransport, Md Helicopters, Inc., Mitsubishi Heavy Industries, Ltd., Vietnam Helicopter Corporation, Leonardo S.p.A., Robinson Helicopter Company, Russian Helicopters, JSC, Boeing, and Universal Helicopters.
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