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).
Helicopter market has been witnessing dynamic changes impacted by numerous factors like growing demand for air mobility, improvements in military, and technological advancements. Growing congestion in metropolitan regions and rising urbanization are notably fueling the need for effective air transport solutions like personal helicopters and air taxis. Several nations across the globe are heavily investing in enhancing their military competencies, resulting in increased need for military helicopters for various purposes like transportation, surveillance, and combat operations. Furthermore, improvements like enhanced composite materials, avionics, and advanced rotor designs are increasing efficiency, safety, and cost-efficiency of helicopters. These factors are significantly driving the demand for helicopters, thus impacting the overall market growth.
Conversely, the market is witnessing a few challenges due to significant operational costs, regulatory challenges, and intense competition from different transport modes. The cost of maintenance, fuel, and skilled pilots may be high, which could notably restrict the growth of the market, mainly in the progressing nations. Strict regulations regarding noise, safety, and environment may affect the growth of the market. This could possibly increase compliance costs for operators and manufacturers, thus adversely impacting the market growth. In addition, the availability of alternative transportation methods like fixed-wing aircraft and drones may impede the demand for helicopters in most applications. Yet, the market is opportune to factors like increased focus on maintenance, repair, and overhaul MRO services, growth of urban air mobility, and rising investments in aviation.
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 Point of Sale
Based on point of sale, the helicopter market is categorized into OEM, aftermarket, and heavy helicopters. The OEM segment held a notable market share in 2023 and is projected to continue dominance in future as well owing to innovations and technology, well-established brand presence, and diverse product range. OEMs fuel advancements in technology, offering superior features and designs that notably improve efficiency, safety, and performance in helicopters. Established original equipment manufacturers like Bell, Airbus, and Sikorsky are the prominent brand and hold significant customer trust, resulting in steady demand for products. OEMs also offer a broader variety for diverse applications like commercial, military, and civil, satisfying different consumer requirements.
On the other hand, the aftermarket segment held a notable share of the market in the previous years and is expected to lead over the forecast period as well owing to the increasing fleet size, cost-efficiency, and regulatory compliance. As the application and number of helicopters is increasing for diverse operations, the demand for repair, maintenance, and overhaul services is also increasing. Operators are emphasizing increasing the lifespan of the present helicopters by efficiently utilizing aftermarket services. These services are mostly cost-effective instead of buying a novel aircraft. Strict regulatory and safety needs are also increasing the demand for regular inspections and maintenance, thus impacting segmental growth.
Analysis by Type
Based on type, the market is segmented into military, civil & commercial, offshore oil and gas, emergency medical services, and law enforcement. The civil & commercial segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to the rising demand for air transport, diverse applications, and advancements in technology. Growing congestion and urbanization are resulting in increasing demand for air mobility solutions, comprising air taxis, tourism, and executive transport. Commercial and civil helicopters serve different sectors like offshore oil and gas, medical transport, and law enforcement, thus increasing market presence and reach. Improvements in efficiency, safety, and passenger comfort have also increased the prominence of commercial and civil helicopters.
On the other hand, the military segment will hold a remarkable market share in the coming years owing to significant defense budgets, technological developments for military applications, and rising global security concerns. Several nations are majorly investing in improving their defense capabilities, thus impacting the demand for military helicopters in different roles like reconnaissance, transport, and combat. Constant improvements in military helicopter technology facilities are advancing operational efficacy, versatility, and safety, increasing their significance for modern armed forces. Global security concerns are also rising on the global scale, thus impacting segmental growth. rising geopolitical stresses and the demand for speedy response competencies have increased the need for military helicopters.
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Geographically, North America dominated the market in the previous years and is expected to lead over the forecast period owing to strong military demand, established manufacturers, and diverse applications. The military in the U.S. is significantly investing in advanced technology for helicopters, thus impacting the need for both upgraded and new military helicopters. Most manufacturers have their headquarters in the United States including manufacturing facilities, supporting the market growth in the region. Also, the region holds a wider range of helicopter applications like offshore oil and gas, medical tourism, and law enforcement, resulting in strong market growth. The key players profiled in the region include Bell Helicopter, Sikorsky Aircraft, Airbus Helicopters, Robinson Helicopter Company, Enstrom Helicopter Corporation, MD Helicopters, and more.
Asia-Pacific is the fastest-growing region in the global helicopter market due to the rising demand for air travel, expansion of military, and infrastructural development. Rising disposable income and speedy urbanization are a few major drivers of the market in the region. They are notably increasing the demand for helicopter facilities in tourism, transportation, and several emergency cases. Nations like India, China, and Japan are notably investing in their military competencies, resulting in mounting demand for improved military helicopters. Also, key investments are seen in aviation infrastructure, comprising air traffic management and heliports, streamlining helicopter operations. These factors are projected to drive the market in the region.
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Drivers
Defense Spending and Military Modernizations
Expanding Oil and Gas Operations
Restraints
Significant Maintenance and Operational Costs
Competition from Alternate Transport Modes
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The competitive landscape of the global helicopter market is differentiated by the mix of numerous progressing players, new entrants, and various marketing strategies adopted by the profiled players. The prominent players are engaged in offering military helicopters, innovative designs, strong presence in the market, and production of civil helicopters. These include Airbus Helicopters, Bell Helicopter, Leonardo S.p.A., and Sikorsky (Lockheed Martin). The competitive strategies adopted by the leading players comprise collaborations and partnerships, innovations, and geographic expansion, mainly in Latin America and Asia-Pacific. Overall, the market is progressing on the back of emphasis on sustainability and customization to maintain a competitive edge.
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, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the helicopter market is considerably progressing due to growing demand for air mobility that fuels the need for effective air transport solutions, rising investments by nations to upgrade military capabilities, and innovations in avionics, rotor designs, and composite materials. The market is also fueled by the rising frequency of emergencies and natural disasters, driving the demand for helicopters. However, the market is hampered by heavy competition from alternate transport methods, that decrease the need for conventional helicopters in most applications. North America is projected to lead the market due to growing investment in aviation infrastructure and favorable regulations. Nonetheless, a few opportunities for the growth of the helicopter market include rising integration of advanced technologies like advanced avionics, IoT, and AI in helicopters, and increased use of helicopters for border patrol, law enforcement, and public safety.
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
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