Helicopter Market to increase by USD 18.94 billion during 2023-2028; Introduction of new and modernized helicopters to drive the growth - Technavio

NEW YORK, Dec. 15, 2023 /PRNewswire/ -- The helicopter market size is expected to grow by USD 18.94 billion between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of 6% during the forecast period. The market is segmented by Application (Civil and commercial and Military), Type (Light, Medium, and Heavy), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).

The introduction of new and modernized helicopters drives market growth. They are expected to have improved power, speed, and distance attributes and may even carry out missions autonomously. They must be fitted with the latest and modernized weapons and countermeasures. This is because they are crucial for the military and play vital roles in humanitarian missions. In 2021, the Leonardo AW139 intermediate twin-engine helicopter became the new Presidential Transport helicopter in the Republic of Colombia. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample 

Key Higlights:

• The report recognizes the following as some of the key players in the helicopter market: Airbus SE, Bristow Group Inc., CHC Group LLC, Enstrom Helicopter Crop., Guangzhou EHang Intelligent Technology Co. Ltd., Helicopteres Guimbal S.A.S, Hill Helicopters Ltd., Hindustan Aeronautics Ltd., Kaman Corp., Kawasaki Heavy Industries Ltd., Leonardo Spa, Lockheed Martin Corp., MD Helicopter LLC, Northrop Grumman Corp., Robinson Helicopter Co. Inc., Rostec, Textron Inc., The Boeing Co., Volocopter GmbH, and Joby Aviation Inc.
• Helicopter Market is fragmented in nature.
• Market to observe 5.45% YOY growth in 2024.

Market Dynamics:

Trend

• The incorporation of advanced A.I systems and automation capabilities in helicopters is an emerging market trend.
• Sensors are equipped in helicopters for greater accuracy and precision while carrying out multiple tasks.
• Advanced automation capabilities are incorporated in modern helicopter designs.
• They help drastically reduce the need for manual labor and free up personnel to focus on more critical tasks.

Challenge

• The high operational and maintenance costs of helicopters challenge market growth. 
• The older models need regular maintenance, thus, making substantial maintenance and repair costs.
• The maintenance costs include oil changes and inspections and can cost several thousand dollars per year, while major repairs, such as engine replacements, can cost up to tens of thousands of dollars.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

The civil and commercial segment is significant during the forecast period. The helicopters in this segment are used for applications such as aerial cranes, corporate shuttle and air taxi services, tourism, aerial photography, air ambulance, law enforcement, and oil and gas activities. The adoption of helicopters in multiple applications drives the demand for civil helicopters is increasing from fleet operators, especially in APAC. For instance, China alone has more than 20 helicopter operators providing services for different applications. This includes aerial surveys, corporate, emergency medical services, powerline patrol, firefighting, and others. Furthermore, given the increasing demand from civil and commercial segments, the global helicopter market is expected to grow during the forecast period. Get a glance at the market contribution of the segments, Request a Sample

Related Reports:

The helicopter engines market size is expected to increase by USD 2.80 billion from 2021 to 2026, at a CAGR of 3.59%.

The Global Helicopter Tourism Market size is estimated to grow by USD 282.41 million accelerating at a CAGR of 4.5% between 2022 and 2027.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio