As per our research report, the North American market size of helicopters is estimated to be growing at a CAGR of 13.08% from 2022 to 2027 and worth USD 17.84 billion by 2027 from USD 9.65 billion in 2022.
A helicopter can take off and land vertically due to the lift and thrust supplied by rotors spinning horizontally. This also allows the helicopter to hover and fly forward, backward, and laterally. Helicopters are very helpful in congested areas where take-off and landing are difficult for fixed-wing aircraft. Nowadays, Helicopters are being extensively used in the commercial and defense sectors, such as in Emergency Medical Services, transporting personnel to offshore oil and gas production facilities, law enforcement, VIP transport, and public safety domains.
The COVID-19 pandemic has affected North America heavily, especially the US, with thousands of infected individuals facing severe health conditions. In addition, the US has the highest military budget across the globe and has a substantial number of defense contracts across its borders. Due to increasing Covid infections, most manufacturing plants had to be temporarily shut down, causing the supply chains for equipment and components to be disrupted. Also, the demand for defense equipment has been lower since the COVID-19 outbreak in the region.
Technological advancements and the high demand for helicopters in North America have increased market growth. Moreover, the world's largest manufacturing industry in the region is helping the market expansion. As a result, helicopters are widely used in commercial and business flights, police and healthcare sectors, and the army. In addition, new technological advancements such as helicopter health, usage & monitoring systems (HUMS) will improve operational predictability, reduce unscheduled maintenance events, and provide comprehensive prognostics to optimize scheduled maintenance helping in mission readiness and lower maintenance costs.
The high demand for helicopters and the increasing technological advancements in the industry drive market growth in the North American helicopter market. The need to modernize military and commercial helicopters is driven by technological improvements in the industry and a desire for better helicopters. Manufacturers are working to minimize the size and weight of helicopter engines for reduced fuel consumption and increased cost-effectiveness; this has led to many technological advancements in the industry. In addition, the growing number of leasing businesses in the North American helicopter market is expected to open new opportunities for market growth in the region.
Major factors restricting the North American helicopter Market include safety incidents such as helicopter crashes, which raise significant reliability concerns and hinder the region's market growth. Also, the stringent rules in the aerospace industry and defense budget cuts in major countries of the region are hindering the overall market growth of the North American Helicopters Market.
This research report on the North American helicopter market has been segmented and sub-segmented into the following categories.
By Original Equipment Manufacturer:
The military segment is ruling with the highest shares of the market with the rising demand to adopt the latest technologies. Growing investments is also to propel the demand of this segment. A civil segment is likely to have a significant growth rate in the coming years. The commercial segment is esteemed to hit the highest CAGR in the near future.
By Application:
The offshore segment is leading with the dominant shares of the market, whereas the onshore segment is to have the fastest growth rate during the forecast period 2022 - 2027.
By Country:
The U.S. is expected to dominate the North American Helicopters Market due to the high demand and widespread use of helicopters, such as for travel, medical services, law enforcement, VIP transport, and public safety. Canada is expected to be the fastest-growing region in the market. Mexico is expected to have steady growth due to increased foreign investment and industrial exports.
Key players:
A few major players in the North American helicopter market profiled in this report are Boeing, Airbus Helicopters, Bell Textron Inc., Lockheed Martin Corporation, Enstrom Helicopter Corp., Kaman Corporation MD Helicopters, Inc., and Robinson Helicopter Company. Airbus Helicopters is the leading company in the North American helicopter market. Offers an extensive lineup of both civilian and military helicopters.
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