Helicopter Market to increase by USD 18.94 billion during 2023-2028; Introduction of new and modernized helicopters to drive the growth - Technavio
NEW YORK, Dec. 15, 2023 /PRNewswire/ -- The helicopter market size is expected to grow by USD 18.94 billion between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of 6% during the forecast period. The market is segmented by Application (Civil and commercial and Military), Type (Light, Medium, and Heavy), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
The introduction of new and modernized helicopters drives market growth. They are expected to have improved power, speed, and distance attributes and may even carry out missions autonomously. They must be fitted with the latest and modernized weapons and countermeasures. This is because they are crucial for the military and play vital roles in humanitarian missions. In 2021, the Leonardo AW139 intermediate twin-engine helicopter became the new Presidential Transport helicopter in the Republic of Colombia. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample
Key Higlights:
The report recognizes the following as some of the key players in the helicopter market: Airbus SE, Bristow Group Inc., CHC Group LLC, Enstrom Helicopter Crop., Guangzhou EHang Intelligent Technology Co. Ltd., Helicopteres Guimbal S.A.S, Hill Helicopters Ltd., Hindustan Aeronautics Ltd., Kaman Corp., Kawasaki Heavy Industries Ltd., Leonardo Spa, Lockheed Martin Corp., MD Helicopter LLC, Northrop Grumman Corp., Robinson Helicopter Co. Inc., Rostec, Textron Inc., The Boeing Co., Volocopter GmbH, and Joby Aviation Inc.
Helicopter Market is fragmented in nature.
Market to observe 5.45% YOY growth in 2024.
Market Dynamics:
Trend
The incorporation of advanced A.I systems and automation capabilities in helicopters is an emerging market trend.
Sensors are equipped in helicopters for greater accuracy and precision while carrying out multiple tasks.
Advanced automation capabilities are incorporated in modern helicopter designs.
They help drastically reduce the need for manual labor and free up personnel to focus on more critical tasks.
Challenge
The high operational and maintenance costs of helicopters challenge market growth.
The older models need regular maintenance, thus, making substantial maintenance and repair costs.
The maintenance costs include oil changes and inspections and can cost several thousand dollars per year, while major repairs, such as engine replacements, can cost up to tens of thousands of dollars.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Keg Segments:
The civil and commercial segment is significant during the forecast period. The helicopters in this segment are used for applications such as aerial cranes, corporate shuttle and air taxi services, tourism, aerial photography, air ambulance, law enforcement, and oil and gas activities. The adoption of helicopters in multiple applications drives the demand for civil helicopters is increasing from fleet operators, especially in APAC. For instance, China alone has more than 20 helicopter operators providing services for different applications. This includes aerial surveys, corporate, emergency medical services, powerline patrol, firefighting, and others. Furthermore, given the increasing demand from civil and commercial segments, the global helicopter market is expected to grow during the forecast period. Get a glance at the market contribution of the segments, Request a Sample
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The Global Helicopter Tourism Market size is estimated to grow by USD 282.41 million accelerating at a CAGR of 4.5% between 2022 and 2027.
Helicopter Market Scope | |
Report Coverage | Details |
Base year | 2023 |
Historic period | 2018-2022 |
Forecast period | 2024-2028 |
Growth momentum & CAGR | Accelerate at a CAGR of 6% |
Market growth 2024-2028 | USD 18.94 billion |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 5.45 |
Regional analysis | North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution | North America at 34% |
Key countries | US, China, Japan, UK, and Germany |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled | Airbus SE, Bristow Group Inc., CHC Group LLC, Enstrom Helicopter Crop., Guangzhou EHang Intelligent Technology Co. Ltd., Helicopteres Guimbal S.A.S, Hill Helicopters Ltd., Hindustan Aeronautics Ltd., Kaman Corp., Kawasaki Heavy Industries Ltd., Leonardo Spa, Lockheed Martin Corp., MD Helicopter LLC, Northrop Grumman Corp., Robinson Helicopter Co. Inc., Rostec, Textron Inc., The Boeing Co., Volocopter GmbH, and Joby Aviation Inc. |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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