Helicopters Market

Global Helicopters Market Size (2022 to 2027)

The global market for helicopters is expected to grow from USD 28.20 billion in 2022 to USD 53.58 billion by 2027, at a CAGR of 13.7% from 2022 to 2027. The worldwide market for helicopters is expected to grow as these flying machines are profitably maintained, which will positively impact the overall growth of the market. In addition, the simple design and the use of minimal moving parts in the helicopter compared to airplanes and winged aircraft is one of the main advantages of the increasing adoption of the helicopter in the global aviation market.

The military sector is a significant growth engine for the helicopter market. Another market driver is the increased demand for light helicopters and emergency medical services (EMS). A helicopter has a rotor that provides the thrust and lifts, which allows the helicopter to land and take off vertically and fly sideways, forward and backward. These attributes and advantages enable the helicopter to be used in isolated and congested areas where fixed-wing aircraft are challenging to fly.

Impact of Covid-19 on the global helicopters market:

The helicopter market includes major players like Airbus Helicopters SAS (France), Bell Helicopters (USA), The Boeing Company (USA), and Leonardo S.p.A. (Italy). These players have expanded their activities in various countries, including North America, Europe, Asia-Pacific, the Middle East, Africa, and South America. COVID-19 has had an impact on their business. Industry experts estimate that coronavirus could affect helicopter production and services by 7-10% globally in 2020. The rapid spread of this pandemic in Europe, the United States, and Asia-Pacific has resulted in a significant drop in demand for helicopters worldwide, with a corresponding reduction in revenue for various helicopter suppliers, service providers in all markets due to delivery times, downtime, limited staffing facilities manufacturing and limited availability of equipment. According to industry experts, the global demand for helicopters is supposed to recover by 2022 fully.

MARKET DRIVERS:

The increasing use of helicopters in transportation, touring, and VIP travel has driven their demand in recent years. Helicopters can also be used in emergencies. They offer enormous maneuverability, especially in a confined space, and can reach any affected area, avoiding all traffic on the road and natural calamities such as earthquakes and floods. In addition, these helicopters are equipped with passenger seats, better soundproofing capabilities, and air conditioning. Furthermore, creators are trying to make helicopters more visually appealing with a carpeted interior and a glossy finish in the global market. Moreover, the helicopter has a less complicated engine operation, resulting in higher reliability. After analyzing the above factors, it shows that helicopters have lower maintenance costs than other aircraft engines in the global market, which will drive the overall growth of the helicopter market worldwide.

The main trends for the helicopter are the execution of improved blade designs to achieve better fuel efficiency, which will continue to contribute to the growth of the global helicopter market in the coming years. In addition, the stable development of the global gross domestic product, the strong demand for travel from world consumers, and the relatively low prices of raw materials such as crude oil, lubricants, etc., are expected to boost the global helicopter market during the forecast period. With the growth of the aviation industry and the reduction of travel times anywhere globally, the world has metaphorically become a smaller place. It has also boosted personal horizons, expanding exponentially to places, cultures, people, or experiences, as travelers can obtain the right of entry simply by booking flights. Increasing per capita income, coupled with an aging fleet, is expected to drive demand in the global helicopter market. Furthermore, the growing tourism industry is expected to increase the demand for commercial helicopters during the forecast period.

MARKET RESTRAINTS:

Strict emission standards and high costs associated with helicopters can pose challenges to the growth of the global helicopter market. Most countries tax commercial helicopters, which to some extent restricts growth. In addition, the reduction of the defense budget in developed countries is the limiting factor for business growth.

REPORT COVERAGE:

This research report on the global helicopter market has been segmented and sub-segmented into the following categories.

Helicopters Market - By OEM:

• Civil
• Commercial
• Military

Based on Original Equipment Manufacturers, civil, commercial, and military helicopters have seen substantial growth. One of the key drivers of this growth is the increased demand for light helicopters for civil and commercial applications such as transport and sea. In addition, the purchase of military helicopters by the armies of various countries around the world, particularly the demand for attack helicopters from emerging economies, has increased the order book for military helicopters.

Helicopters Market - By Application:

• Offshore
• Onshore

Based on application, the offshore helicopters in the civil and commercial segments are expected to experience the highest CAGR due to the increase in offshore business and demand for platforms. The number of global offshore platforms has grown steadily in recent years and is expected to increase over the outlook period. This growth in offshore activities is expected to stimulate the demand for such helicopters.

Helicopters Market - By Region:

• North America 
• Asia-Pacific
• Europe
• Latin America
• Middle-East-America

Europe accounted for the largest market share in 2021and is expected to dominate throughout the forecast period. The Clean Sky initiative in the region, which involves a public-private partnership between the European Commission and the European aviation industry, is developing sophisticated technologies to make helicopters quieter and more environmentally friendly.

North America accounted for more than 25% of the global market share in 2021and is supposed to see significant growth during the outlook period. One of the key drivers of the regional market is the replacement of old helicopters, especially in the United States.

Asia-Pacific is expected to experience the fastest CAGR during the estimated period. Factors like growing demand for helicopters from the tourism industry, loosening airspace restrictions and investments in the local aviation industry, and infrastructure development in emerging economies are likely to drive growth.

Helicopter sales in the Middle East and Africa are determined to see steady growth due to the stable economic development of the oil and gas industry in Middle Eastern countries.

KEY MARKET PLAYERS:

Major market participants involved in the global helicopters market are Helicopter Inc. (Airbus Group), Agusta Westland, Bell Helicopter, Korea Aerospace Industries (KAI), Avicopter, Eurocopter, PZL Swidnik, Enstrom Helicopter Corporation, Kaman Aerospace, Sikorsky Aircraft Corporation, Columbia Helicopters, Leonardo S.p.A., Lockheed Martin Corporation (Sikorsky), MD Helicopters Inc., Boeing Rotorcraft Systems, Jiangxi Changhe Aviation Industry Ltd., Robinson Helicopter Company, Russian Helicopters, JSC, and Textron Inc.

RECENT MARKET DEVELOPMENTS:

• In June 2020, Boeing received an order for 24 of its AH-64E Apache helicopters from Morocco. The company will deliver the new Moroccan Apaches under a contract with the US military as part of the US government's foreign military sale process.
• In June 2020, Japan's National Police Agency commissioned a new H225 and four H135 helicopters from Airbus as part of its fleet modernization program. The new helicopters will complement the agency's law enforcement capabilities.