The global helicopter services market size is projected to reach USD 39.89 billion by 2027, exhibiting a CAGR of 3.83% during the forecast period. Increasing deployment of helicopters for humanitarian aid operations worldwide is expected to make critical contributions to the market growth, states Fortune Business Insights™ in its report, titled “Helicopter Services Market Size, Share & COVID-19 Impact Analysis, By Type (Lightweight helicopter, Medium Weight Helicopter, Heavy Weight Helicopter), By Application {Offshore Helicopter, Air Ambulance, Business/Corporate Travel, Disaster and Humanitarian Aid, Leisure Charter, Transport (Air-Crane, Cargo), Media and Entertainment (Film Shooting and Special Occasions), Surveying and Aerial Imaging (Photography and 3D Scanning Mapping)}, and Regional Forecast, 2020-2027”. Humanitarian assistance is required in areas that are prone to frequent natural disasters such as Haiti as well as in places that are ravaged by war such as countries in Africa and the Middle East. In response, international organizations and entities have created dedicated fleets of helicopters and other aircraft to provide aid to people in these areas, some of which are hard to reach. For instance, the European Union (EU) has its own humanitarian air service known as ECHO Flight, which the EU has deployed in 2018 to the Ebola-hit Democratic Republic of Congo to transport supplies to aid workers in various parts of the country. Similarly, companies such as Russia-based Utair are known for offering helicopter services for a wide range of operations.
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As per the report findings, the global market value stood at USD 35.01 billion in 2019. It also shares the following:
- Detailed analysis of the factors driving the growth of the market;
- Microscopic evaluation of the different market segments;
- Comprehensive study of the regional prospects and competitive milieu of the market; and
- Careful examination of the various challenges facing the market.
Market Driver
Emergence of Electric VTOL Start-Ups to Favor Market Growth
Rotorcraft services are in high demand owing to the vast array of operations that they can support. These services have been also bolstered by the introduction of vertical take-off and landing (VTOL) capabilities in helicopters. Seeing the lucrative opportunities in this domain, several start-ups have emerged and are offering novel solutions. For example, US-based Joby Aviation is developing S2, its 2-seater electric aircraft that reach a maximum speed of 200mph. Similarly, Germany-based Lilium is developing an all-electric jet with a range of 300km. The company is also creating a network of landing pads across the city of Wessling to launch its air mobility services in 2025. Electric VTOL rotorcraft can take-off, hover, and land vertically, giving them a unique advantage of landing or taking off from confined spaces or remote areas. Growing adoption of EVTOL aircraft is, therefore, expected to surge the helicopter services market growth in the coming years.
Regional Insights
Heavy Utilization of Helicopter Services to Fuel the Market in North America
North America, which featured a market size of USD 16.76 billion in 2019, is anticipated to lead the market during the forecast period as helicopter services are extensively leveraged for a variety of purposes in the region. Moreover, the US and Canada have strong aviation infrastructure and ample space to develop networks of landing/take-off pads and spots, which further strengthens the region’s grip on the helicopter services market share.
In Europe, the market is expected to display promising growth on account of proliferation of helicopter leasing facilities and rising number of offshore operations. Asia Pacific is expected to generate lucrative opportunities for players as the development of smart city projects gathers momentum in India and China.
Competitive Landscape
Key Players to Target Adventure Tourism Sector with Enhanced Offerings
Adventure tourism sector has been flourishing for many years now and helicopter service providers are increasingly utilizing the capabilities offered by these aircraft to ensure a thoroughly engaging experience for tourists. On the other hand, some players are strategically diversifying their operations through collaborations and mergers with other competitors.
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Industry Developments:
- July 2020: Ultramarine’s two twin-engine and dual helipads have been selected by Quark Expeditions for its new tourism program in Greenland. Trip packages will include off-ship adventure offerings and the voyages will be conducted in partnership with local communities and governments.
- June 2020: Bristow Group announced its merger with Era Group to create a financially stronger organization, offering diverse products and solutions to end-users. Bristow expects to enhance and expand its offshore helicopter services across Australia, the UK, Norway, Nigeria, and the Americas through this merger.
List of Key Players Covered in this Market Report:
- Paramount Business Jets (Virginia, the U.S.)
- Heli Air Limited (Wellesbourne, the U.K)
- Erickson Incorporated (Oregon, the U.S.)
- Bristow Helicopters Limited (Dyce, The U.K)
- Air Methods Corporation (Colorado, the U.S.)
- PHI Inc. (Louisiana, the U.S.)
- Gulf Helicopters (Doha, Qatar)
- Carson Helicopters Inc. (Pennsylvania, the U.S.)
- Alpine Helicopters Inc. (West Kelowna, Canada)
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