The global helicopter market size was USD 45.21 billion in 2021. The market is expected to grow from USD 48.74 billion in 2022 to USD 74.46 billion in 2029 at a CAGR of 6.24% in the 2022-2029 period. This information is provided by Fortune Business Insights™, in its report titled, “Helicopter Market, 2022-2029.”
According to our researchers, the increasing focus of governments of various nations on securing the defense system of their respective nations is among the top reason that is supporting the product demand.
List of Key Players Covered in the Helicopter Market are:
- Airbus S.A.S (Netherlands)
- The Boeing Company (U.S.)
- Textron, Inc. (U.S.)
- Hindustan Aeronautics Limited (HAL) (India)
- Kawasaki Heavy Industries, Ltd (Japan)
- Leonardo SPA (Italy)
- Lockheed Martin Corporation (U.S.)
- MD Helicopters (U.S.)
- Robinson Helicopter Company (U.S.)
- Russian Helicopters, JSC (Russia)
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We curate our reports that are based on an all-inclusive review approach that primarily focuses on delivering accurate material. Our experts have applied a data navigation technique that further aids us to present perfectly reliable predictions, and thus examine the general market aspects precisely. Additionally, our analysts have gained access to various international as well as regionally sponsored lists for providing the up-to-date material so that the stakeholders and entrepreneurs make crucial capitalization only in the functional zones.
Rising Government Expenditure on Border Security to Fast-track Heavy Weight Segment
Based on type, the market is segregated into civil & commercial and military.
On the basis of application, the market is classified into Emergency Medical Service (EMS), corporate service, search and rescue operations, defense, homeland security, oil and gas, and others.
In terms of system, the market is categorized into airframe, engine, avionics, landing gear system, and cabin interior.
By weight, the market is classified into lightweight, medium weight, and heavy weight. The heavy weight segment is anticipated to dominate the market during the forecast period.
By point of sale segment, the market is divided into OEM and aftermarket.
The market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Augmented Demand for Emergency Medical Service (EMS) and Search and Rescue (SAR) Helicopters to Spur Market Growth
Helicopters are expansively utilized in various applications in the military as well as commercial sectors. These days, there has been a surge in the product usage in applications such as Emergency Medical Services (EMS) and search and rescue, which boosts the helicopter market growth. Helicopter Emergency Medical Service (HEMS) and Search and Rescue (SAR) helicopters are utilized for an assortment of uses such as transportation of equipment, personnel, and patients.
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North America to Dominate Backed by Huge Expenditure on Defense Requirements
North America held the largest helicopter market share and dominated the market in 2021 valued at USD 17.15 billion. The growth is owing to the highest defense spending, military modernization agendas, and a huge number of procurement of advanced lightweight helicopters from the U.S. Army.
Asia Pacific is estimated to depict notable growth during 2021-2028. The growth is backed by rising defense spending from developing economies such as China and India.
Europe will demonstrate remarkable growth, owing to the surging defense expenditure from the U.K., Germany, Russia, and other European nations.
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Prime Players Engage in Considerable Deals to Make Notable Changes in Market
The players functioning in the market often employ several tactics that will assist the market growth and product demand. Among the pool of tactics, one such noteworthy strategy to expand the business prospect is engaging in multimillion contracts with government bodies and safeguarding a profitable revenue for their own company.
Key Industry Development
November 2021 – Lockheed Martin selected Rossell Techsys for support in the manufacturing of MH-60R multi-role helicopters destined for the Indian Navy. Rossell Techsys will support in Built to Print (BTP) production of Electric Wire Harness and Interconnect System (EWIS) for installation in MH-60 R helicopters.
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