The global helicopter MRO services market size is set to gain traction from advanced composite materials and has been instrumental in driving the growth, shares Fortune Business Insights in its report, titled “Helicopter MRO Services Market, 2021-2028”. Helicopter maintenance and repair is an essential part of helicopter operations. It ensures that rotorcraft is maintained in predetermined airworthiness conditions to ensure the safety of operations, passengers, and crew. Each year, advanced composite materials surface on an increasing number of aircraft. In particular, the amount of components made of fibreglass, biomass, or aramid fibres has increased dramatically in helicopters.
The global helicopter MRO services market size was USD 7.21 billion in 2020. The market is projected to grow from USD 7.48 billion in 2021 to USD 10.23 billion in 2028 at a CAGR of 4.57% during the 2021-2028 period.
Request Sample Report-
Russia-Ukraine War Implication
The Russia-Ukraine war could change the market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
List of Key Players Profiled in the Helicopter MRO Services Market Report:
- Honeywell International
- Rolls-Royce Plc.
By type, the market is segmented into light helicopters, medium helicopters, and heavy helicopters. By maintenance type, the market is segregated into airframe heavy maintenance, line maintenance, engine maintenance, and component maintenance. By application, the market is categorized into civil and military. By geography, the market is segmented into North America, Europe, Asia Pacific and the Rest of The World.
The study provides in-depth reviews of existing companies that are reshaping the market’s dynamics. This report offers a detailed analysis of numerous factors affecting the market. It analyses many tactics strategically and offers crucial insights such as the prevalence of major diseases in key countries, a patent snapshot, pipeline research, key mergers and acquisitions, joint ventures, and more.
Drivers & Restraints-
Increased Need for Helicopters in Healthcare Industry to Drive the Market
The number of smart city projects is increasing in developing countries like China and India. As a result, governments are taking steps to improve medical services. Several private hospitals are following in the footsteps of the government and investing significant amounts in the development of healthcare facilities. These helicopters are being used as air ambulances by major healthcare providers. It’s because air travel has numerous advantages, including secure and quick transportation to any remote area. Furthermore, the rate of human organ transportation is increasing on a daily basis. Over the forecast period, it is likely to improve the outlook for helicopters. The need to upgrade military and commercial helicopters is being driven by technological advances in the aerospace and defence industry, as well as demand for improved helicopter power output. Manufacturers are attempting to reduce the total weight of helicopter engines in order to reduce fuel consumption and improve cost-effectiveness. For instance, in 2018, over 1300 light helicopters were delivered in 2018. Light single-engine helicopters are the most desirable type of helicopters, according to Honeywell’s 20th Turbine-Powered Civil Helicopter Purchase Outlook published. Because of the risks associated with flight operations, the aerospace industry is heavily regulated. Manufacturers of helicopters and their components are bound by a plethora of bilateral, state, and international regulations and standards.
North America Region Grows to be the Most Rapidly Growing Market for Helicopter Services
In the helicopter MRO services industry, North America has the largest helicopter MRO services market share. The demand is growing due to an increase in helicopter deliveries and the use of helicopters in civil and commercial operations throughout North America. The demand in the Asia Pacific is expected to expand significantly. The increase is due to an increase in the number of helicopters used in a range of applications, including EMS, search and rescue, oil and gas, and corporate services.
Rapidly Evolving MRO Innovations to Keep an Eye on is Robotics
In the world of MRO, robots can be used in a variety of ways to improve performance. MRO robotics can be used for anything from single-part repairs to carbon fibre machining to complex inspection tasks thanks to miniaturisation, which allows robots to inspect components that are otherwise difficult for humans to reach. For example, the “swarm” robots from Rolls-Royce, these 1-cm-long robots will crawl through engines, collecting images and transmitting them to technicians for analysis. They’re the first step toward Rolls-goal Royce’s development of developing a series of miniature robots capable of removing and replacing faulty components.
April 2019: AirMed International, a U.S.-based fee-for-service air ambulance company, has acquired Air Medical, a provider of emergency air and ground ambulance services. According to AirMed officials, the acquisition would enable the company to meet the growing demand for critical care transportation. It would also improve emergency transport and area military assistance, as well as meet Texas’ healthcare needs. By having Air Medical’s fleet onboard, the acquisition would also help AirMed expand its operations.
Speak to Analyst-
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Fortune Business Insights™ Pvt. Ltd.
9th Floor, Icon Tower, Baner-Mahalunge Road,
Baner, Pune-411045, Maharashtra, India.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]