Helicopter Tourism Market size to record USD 282.41 million growth from 2023-2027, Alliance between helicopter operators and resorts is one of the key market trends, Technavio

NEW YORK, May 8, 2024 /PRNewswire/ -- The global helicopter tourism market size is estimated to grow by USD 282.41 million from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period.

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Key Trends Fueling Growth

• Alliance between helicopter operators and resorts: 
• The commercial helicopter industry is set to see a surge in joint business operations and partnerships. Like airlines, helicopter operators are teaming up with hospitality providers such as resorts and tourism firms to offer perks to passengers. This strategy helps raise awareness of their services and boost yearly earnings.
• For instance, the Palazzo Resort in Las Vegas has teamed up with a private helicopter company to offer Grand Canyon rides to guests. Similarly, Dezaiko Lodge partnered with Aberdeen Helicopters in Canada. Alpine Helicopters has had a longstanding partnership with Canadian Mountain Holidays for 35 years.
• Even emerging businesses like global taxi apps are getting in on the action, with US-based Uber launching UberCHOPPER, allowing users to book helicopter rides. These partnerships offer tourists convenience while driving up helicopter companies' revenues. With more partnerships on the horizon, the tourism market for helicopters is set to grow, benefiting both resorts and helicopter firms.

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Major Challenges:

• Cost-intensive tours
• Helicopter tours cost more than other transport options like cars or coaches, making them too expensive for budget travelers. Prices typically range from $200 to $250 per hour, plus a mandatory heliport fee of $35 to $50 per person. Even in emerging economies, low-cost helicopter rides can be around $15 for a 15 to 20-minute flight.
• Additional fees may apply for passengers weighing over 250 or 275 lbs. In the US, Manhattan Helicopters offers various tours: Classic Manhattan for $234 (12-15 minutes), Deluxe Manhattan for $284 (18-20 minutes), and VIP Manhattan for $360 (25-30 minutes), all inclusive of heliport fees.
• Similarly, Elite Helicopter Tours in Los Angeles charges $160-$450 per person for rides lasting 30-90 minutes. Niagara Helicopters, providing tours of Niagara Falls, offers high fares, mainly appealing to luxury travelers.

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Segmentation Overview

1. Type
• 1.1 General
• 1.2 Customized
2. Geography
• 2.1 North America
• 2.2 APAC
• 2.3 Europe
• 2.4 South America
• 2.5 Middle East and Africa

1.1 General- The general segment's market share is set to see significant growth in the coming years, driven by factors such as price sensitivity among tourists, particularly in middle-income countries, which constitute about 75% of the global population. While costs remain a deterrent for many, the appeal of affordable deals offered by companies is drawing a growing number of travelers. Revenue for these companies is primarily generated based on the number of passengers transported to specific destinations, with fixed fares and durations for each seat. The sector, valued at USD 555.60 million in 2017, has shown consistent growth till 2021.

• Forecasts from the International Air Transport Association (IATA) suggest a doubling of global air travelers to 8.2 billion by 2037, with the Asia-Pacific region leading this expansion. These tours, including adventure options, attract a wide age range due to their cost-effectiveness. Despite limitations in flexibility regarding location and duration, these tours remain popular, particularly in emerging economies like India, China, Indonesia, and Brazil, where their popularity is expected to continue rising.

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Analyst Review

Helicopter tourism is gaining traction in the travel industry, offering a unique perspective on popular tourist places. Fractional ownership allows individuals to share ownership of helicopters, making aerial transport more accessible. However, virus-infected patients and traveling restrictions have impacted the market, leading to a decrease in tourism. Helicopter emergency services play a vital role in natural disasters, climate change, and medical emergencies, with air ambulance helicopters equipped with medical equipment and onboard medical crews for initial emergencies.

Research analysts and valuation experts analyze the helicopter market, while commentators and external consultants provide insights into industry trends. Helipads serve as essential infrastructure for helicopter operations, ensuring safe takeoff and landing. In conclusion, the helicopter tourism market faces challenges but remains a valuable sector for aerial transport and emergency services.

Market Overview

The firms offer primary interviews with research analysts to assess traveling restrictions and the prevalence of natural disasters in tourist destinations. They ensure safety with search and rescue helicopters equipped with onboard medical crews for initial emergencies. Paved runways facilitate smooth take-offs and landings. Reimbursement policies provide peace of mind for travelers.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation

• Type
• General
• Customized
• Geography
• North America
• APAC
• Europe
• South America
• Middle East And Africa

 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio