SAN FRANCISCO, Oct. 31, 2019 /PRNewswire/ -- The global commercial helicopter market size is expected to reach USD 6.92 billion by 2025, registering a CAGR of 3.8% over the forecast period, according to a new report by Grand View Research, Inc. Factors such as the growth in oil and gas exploration activities and rising demand for air ambulances in medical evacuation are expected to drive the market. Increasing popularity of rotorcraft for commercial applications in the countries from Middle East and Asia Pacific coupled with its success in western countries, is anticipated the further propel the growth.
Key suggestions from the report:
Increasing demand for advanced rotorcraft for law enforcement, public safety, and other parapublic applications is expected to offer numerous opportunities for market growth
Rising adoption of stringent regulatory policies regarding emissions and noise pollution in developed economies, such as U.S., is encouraging manufacturers to develop low-noise and environmentally friendly rotorcraft
Key manufacturers are expected to reduce their delivery and production rates to support secondary markets; manufacturing aircrafts that are easier to re-configure for various applications
Middle East and Africa is emerging as a new frontier for the global market as the regional governments are increasingly seeking replacement of older fleet with advanced rotorcraft
The R&D activities are expected to create significant growth opportunities for the companies specializing in the development of advanced rotorcraft, such as optionally-piloted rotorcraft, tilt rotorcraft, and the ones with co-axial rotors
Noticeable rise in the purchase of new helicopters for tourism, training, law enforcement, and firefighting applications, particularly as a result of the continued replacement of older fleets and the widening application base is expected to bode well for the market growth. In the transportation domain, the demand for luxurious and customized helicopters is increasing at a rapid pace. The popularity of personalized chartered helicopters is expected to increase in line with the growing preference for enhanced comfort and luxury among the high-end business travelers.
Rising demand for fuel-efficient rotorcraft, expiring warranties, and changes in operational requirements are some of the key factors anticipated to drive the demand for new helicopters over the forecast period. Commercial fleet operators purchase new helicopters based on various parameters, such as performance, range, cabin size, technology upgrades, and brand experience. Rapid infrastructural development and airline deregulation in emerging countries across the world is expected to offer immense opportunity for the sale of rotorcraft.
The North America commercial helicopter market is anticipated to experience substantial growth during the forecast period owing to the rising demand for rotorcraft in oil and gas and renewable energy industries. The market in Asia Pacific was valued at more than a billion dollar in 2018 and is projected to expand at a CAGR of approximately 6% over the forecast period. Countries, such as India and China, are expected to emerge as some of the fastest-growing markets due to the relaxation of airspace regulations and growth in the regional aviation sector.
Grand View Research has segmented the global commercial helicopter market based on type, application, and region:
Commercial Helicopter Type Outlook (Revenue, USD Million, 2015 - 2025)
Commercial Helicopter Application Outlook (Revenue, USD Million, 2015 - 2025)
Oil & Gas
Law Enforcement & Public Safety
Commercial Helicopter Regional Outlook (Revenue, USD Million, 2015 - 2025)
Aircraft MRO Market– The global aircraft MRO market size was valued at USD 75.71 billion in 2018 and is anticipated to register a CAGR of over 4.7% from 2019 to 2025.
Commercial Aircraft Landing Gear Market– The global commercial aircraft landing gear market size was estimated at USD 5.12 billion in 2016 and is expected to witness substantial growth over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.