The helicopter services market size stood at USD 31.89 billion in 2021. The market is projected to rise from USD 33.34 billion in 2022 to USD 42.64 billion by 2029 at 3.58% CAGR during the forecast period. Fortune Business Insights™ has deep-dived into these insights in its latest research report titled, “Helicopter Services Market, 2022-2029.”
According to the study, expanding penetration of emergency medical services will augur well for the industry outlook. Prominently, end-users could witness demand from commercial applications due to the penetration of helicopter services. Besides, infrastructure development across urban areas will further the investment portfolio amidst the COVID-19 pandemic.
Bullish Government Policies to Bolster the Product Offering
In the midst of the COVID-19 pandemic, governments have exhibited an increased inclination for advanced helicopter services. Service demand will be noticeable against the backdrop of demand for Helicopter Emergency Medical Services (HEMS) across hospitals and health insurance companies. Leading companies could emphasize inventory management to bolster the supply chain.
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Based on type, the market is segmented into heavy weight helicopter, medium weight helicopter, and light weight helicopter.
In terms of application, the market is fragmented into air ambulance, offshore helicopter, business/corporate travel, transport, leisure charter, disaster and humanitarian aid, surveying and aerial imaging, and medical and entertainment.
On the basis of geography, the market is segregated into North America, Asia Pacific, Europe, and the Rest of the World.
The report has been prepared meticulously through quantitative and qualitative assessments to offer a comprehensive market view. Notably, many primary interviews have been conducted with major stakeholders and suppliers. Primary data has been collected through questionnaires, telephonic conversations, and emails. Moreover, the report also includes secondary sources such as government websites, SEC filings, and press releases. The report also gives an in-depth view of market size, share, revenue, volume, and delves into SWOT analysis.
Drivers and Restraints
Rising Footfall of Helicopter Emergency Medical Service to Foster Innovations
Industry players expect HEMS to gain traction across urban hospitals in North America, Europe, and Asia Pacific. Besides, a surge in human organ shipment could foster the helicopter services market growth during the forecast period. Moreover, emerging economies, such as China and India, have witnessed a surge in infrastructure projects. For instance, in November 2021, Global Medical Response (GMR) inked a deal with Bell Textron Inc. to purchase six Bell 407GXi helicopter emergency services aircraft, with delivery expected by 2023.
Stakeholders are expected to boost their market presence to streamline real-time data management software. It is worth mentioning that flight management software has gained impetus in the helicopter portfolio. However, rigorous regulations amidst escalating cases of helicopter accidents could dent the growth prospect.
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Stakeholders Explore Opportunities in North America to Bolster HEMS Offerings
The North America helicopter services market share will witness an appreciable gain on the back of presence of leading companies across the U.S. and Canada. Lately, the trend for HEMS and on-demand helicopter service has become noticeable. Additionally, expansion of infrastructure facilities, along with favorable government regulations, will boost regional growth.
Leading players are expected to cash in on prevailing opportunities across the U.K., France, Germany, and Italy. State-of-the-art cloud computing technologies will gain impetus with a growing expansion of leasing facilities. Further, heightened demand from the entertainment sector will also provide lucrative opportunities in the ensuing period.
Asia Pacific industry forecast will be strong in the wake of expanding footfall of the aviation sector. China, India, and Australia have witnessed an uptake in the number of helicopter operations. Governments are likely to seek such services to boost search and rescue operations. Light weight and medium weight helicopters have received impetus from end-use applications. The trend will augur well for the regional expansion during the forecast period.
Prominent Companies Emphasize Product Portfolio Expansion to Gain Ground
Industry players are expected to inject funds into technological advancements, product rollouts, partnerships, and mergers & acquisitions. Leading companies could focus on research and development activities to gain a strategic hold.
Key Industry Development
- July 2020 – NHV Group could provide helicopter services for Shell UK & NAM under a new long-term contract.
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Major Players Profiled in the Market Report:
- Air Methods Corporation (U.S.)
- Alpine Helicopters Inc. (Canada)
- Bristow Helicopters Limited (U.K.)
- Carson Helicopters Inc. (U.S.)
- Ericson Incorporated (U.S.)
- Gulf Helicopters (Qatar)
- Heli Air Limited (U.K.)
- PHI Inc. (U.S.)
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