Market Research Future (MRFR) expects the Helicopters Market 2020 to record a growth rate of 2.92% over the forecast period, which is between 2020 and 2026. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Primary Boosters and Deterrents
Escalating use of helicopters in Search and Rescue (SAR), firefighting operations and Emergency Medical Services (EMS) has favored the global Helicopters Market in recent years. The helicopters industry can also witness strong demand in line with the rising use of rotorcraft in the oil and gas sector for a variety of offshore applications. The market demand can also surge in the near future, backed by the broadening application range in public safety, law enforcement, and various public missions. Across the globe, the demand for new and more advanced helicopters has been mounting significantly, with the prime focus on cabin size, range, performance technology and brand experience.
Old helicopters are continuously being replaced due to their performance erosion, high maintenance cost, safety issues and contracted replacement cycles, and more. Thus, the significant demand for new helicopters and the increasing replacement of old ones, particularly in matured markets can emerge as excellent opportunities for the leading brands. Lightweight helicopters have picked up momentum as the latest trend, in light of the expanding tourism industry and the surge in private ownership. The widespread inner-city air travel surge because of the increasing air traffic, mostly in emerging countries could also encourage market growth in the following years.
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Mounting number of leasing vendors as well as leasing options in the industry can provide new opportunities to operators who are looking to boost their helicopter fleet. Leasing firms are increasingly buying new helicopters for an expanded fleet size and leverage the untapped growth potential in untapped regions. Besides, many of the players are striving to differentiate their product ranges from their rivals, integrating new features, such as innovative avionics suite, advanced satellite navigation systems and Full-Authority Digital Engine Control/FADEC for better growth prospects. Aircraft makers are forming partnerships and adopting strategies like acquisitions to benefit from the business opportunities in the worldwide market.
For instance, in October 2020, HALO-Flight acquired Bell 407GXi, which is the first FAA approved single-pilot, IFR medical helicopter. This acquisition will enable HALO-Flight to carry out all kinds of all-weather operations and conduct crucial missions despite the low cloud ceilings.
The key contenders analyzed in the MRFR Helicopters Industry study are Aviation Industry Corporation of China (China), Hindustan Aeronautics Limited (India), JSC (Russia), Leonardo SPA (Italy), Lockheed Martin Corporation (US), MD Helicopters, Inc. (US), Enstrom Helicopter Corporation (US), Textron Inc. (US), Russian Helicopters, Airbus SAS (Netherlands), Robinson Helicopter Company (US), Boeing (US), Korea Aerospace Industries, Ltd (South Korea), to mention a few.
Helicopters industry has been segregated in terms of component & system, type, application and point of sale.
The component & system-based categories mentioned in the report include airframe as well as engine.
The various types of helicopters studied in the MRFR study are civil & commercial, military and more. Military helicopters are in huge demand across developed countries, with the surge in wars and tensions between economies, which can help the segment garner a CAGR of 3.54% in the years ahead.
Applications are military along with civil & commercial.
Depending on point of sale, the global market caters to OEM as well as aftermarket.
Helicopters industry can be regionally considered for Europe, the Middle East & Africa/MEA, Latin America, Asia Pacific/APAC and North America.
North America has remained the market leader since 2019, accounting for close to 33% of the global helicopter fleet. Many of the operators based in the US are focused on boosting the application scope of the helicopters they produce, making them the biggest contributor to the market growth. The soaring number of long distances offshore deep-water oil extraction projects in the region necessitates the need for dedicated helicopters for the transportation of personnel and equipment from and to the shore. Emergency medical services constantly require helicopters for various operations, with the highest demand observed in the US and Canada. This key application can be a lucrative opportunity for the leading firms over the ensuing years.
APAC is anticipated to be one of the fastest advancing markets, on account of the heightened use of rotorcraft in the tourism industry, lenient airspace regulations and the increased spending on advancements in the aviation industry. The improvements in infrastructure across emerging countries like India, Japan and China also benefit the APAC market to a large extent.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.