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Helicopter Market Segmentation: by Type (Light, Medium, Heavy, And Very Large); By Application the Market Is Bifurcated Into: Civil & Commercial, and Military); by Region (North America, Asia-pacific, Europe, Latin America and Middle-East and Africa)- Analysis of market share, size & trends for 2016-20 and forecasts to 2030.
Helicopter Market is anticipated to exceed USD 23.9 billion by 2030 from USD 43.2 billion in 2020 at a CAGR of 6.78 % throughout the forecast period, i.e., 2020-30.
The helicopter is a kind of aircraft in which horizontally rotating blades provide a lift and thrust. This enables the helicopter to perpendicularly take off and land, float, and fly forward, backward, and sideways. These actions help helicopters to be operated in congested or in remote areas where fixed-wing airplanes and other types of VTOL aircraft do not work. A Helicopter is an aircraft with aerodynamic forces resulting from lifting acting on one or more powerful rotors spinning significantly upward.
Global Helicopter Market is anticipated to exceed USD 23.9 billion by 2030 from USD 43.2 billion in 2020 at a CAGR of 6.78 % throughout the forecast period, i.e., 2020-30. The global Helicopter market is estimated to grow on the back of the following reasons. In-service emergency medical (EMS), search and rescue (SAR), and firefighting activities are anticipated to accelerate their use. The business is projected to increase growth. In the industry, demand for oil and gas rotorcrafts for a variety of offshore applications is predicted to boost. Due to its vast application basis in carrying out legal compliance, public protection, and other Para public operations, there is likely to be a significant global demand for helicopters.
Source: Fatpos Global
The global Helicopter market has been segmented based on application and product type. It has been further segmented based on region into North America, Europe, Asia-Pacific, Mid East, and Africa.
The Civil & Commercial segment is anticipated to register the volume share and is expected to grow at the highest CAGR.
Based on the application the market is bifurcated into Civil & Commercial, and Military. In light of rising helicopter demand as a means of between and intra-City transport, the transport helicopters segment is expected to dominate the application market during the prediction period. The key factors contributing to this demand are the vertical start and Landing facilities (VTOL), along with the reduced helipad size restrictions in comparison with airports. Helicopter travel also saves time in contrast to other transport types which is an additional factor adding to the demand for light and medium helicopters.
The light segment is anticipated to register the volume share
Based on the type the market is bifurcated into light, medium, heavy, and very large. The demand for such rotorcrafts is anticipated to augment growth in professional aerial photography and video as well as in the management of events, such as equipment and staff. Besides, over the projected timeframe, the increasing leisure tourism industry is estimated to fuel the demand for light commercial helicopters.
The medium segment is expected to grow at the highest CAGR
The implementation of medium commercial helicopters should be motivated by the multi-purpose mission, cost savings, and lower operational costs. Medium-sized helicopters are also used to carry them to remote areas, which allows lifesaving activities such as Search and Rescue operations and medical emergencies a vital part of their service.
Technological advancement in the defense sector
The key concern of helicopter producers is the demands of end-users, the conservation of fuel, and operating effectiveness. Aerospace and defense technology developments and demand for better helicopter power contribute to a need to upgrade military and business helicopters. Producers have made efforts to minimize helicopter engines' weight overall to contribute to reducing fuel consumption and rising cost-effectiveness. The technical developments have led to increased efforts by helicopter producers to minimize the size and weight of helicopters. Thus, the demand for lightweight helicopters is on a continuous rise.
Less budget
Owing to the budget spending cuts in the defense sector over the last few years, military budgets in developing countries have steadily decreased. For the 2012–21 budgets, the U.S. Defense Ministry has proposed a decrease of about USD XXXX billion in defense financing. Europe also implemented strict military budget reductions, showing an overall decline in defense expenditure from 2011-to 2020 in large countries, such as Germany, the United Kingdom, Spain, Italy, Ireland, Belgium, and France. Some developing countries will make further changes to increase their defense budgets.
Europe was the largest market accounting for the total market volume share in 2019
The global Helicopter market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and the rest of the world are classified as Middle-East and Africa.
The Clean sky Initiative is creating advanced instruments for the development of environmentally sustainable and smoother aircraft within the field involving public-private cooperation between the Commission and the European aviation industry. More than one-fourth of North America's world market share was estimated in 2019, and substantial growth over the projected timeframe is predicted. One of the main factors influencing the regional market is the substitution of aging helicopters, especially in the US.
Source: Fatpos Global
Major players in the industry are focused on building new and increasing their market share in long-term strategic partnerships on new avenues. For instance: -
Boeing received a Deal from Marocco in June 2020 for 24 of its AH-64E Apache helicopters. By an agreement with the U.S. Army through the US State, the company will develop and supply the new Moroccan Apaches through the international military purchasing process.
As part of the fleet expansion project, Airbus ordered the National Police Agency (NPA) of Japan to operate one new aircraft H225 and 4 H135 in June 2020. The agency's capacity to enforce the law is strengthened by five new helicopters. NPA's Airbus fleet will be reduced to 30 under the new order.
The automotive and travel industry is one of the highly vulnerable vertical outbreaks of CO VID 19 and now has unparalleled complexity. COVID-19 should have a profound influence on the automotive supply chain and product demand. The industry has gone from the business disruption in China to an overall downturn in the automotive market. For all non-essential activities, demand for commercial vehicles will decrease. Besides, shifts in consumer purchasing behavior due to the pandemic's uncertainty could have significant repercussions on the industry's near growth prospects.
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