Press Release

Helicopters Market to Grow with a CAGR of 6.98% through 2028

Military modernization, expanding civilian applications, and continuous technological advancements are the factors driving market in the forecast period 2024-2028

 

According to TechSci Research report, “Helicopters Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Helicopters Market stood at USD 47.58 Billion in 2022 and is anticipated to grow with a CAGR of 6.98% in the forecast period, 2024-2028 The global helicopter market is a multifaceted industry that plays a crucial role in various sectors, including defense, commercial aviation, emergency services, and transportation. This market overview provides insights into its key aspects, recent trends, challenges, and future prospects. The market's size is influenced by factors such as rising demand for helicopters in various applications, technological advancements, and evolving regulatory landscapes. The market is segmented into civil and military sectors, with the civil sector representing the majority of the market share. The demand for military helicopters is also significant, driven by defense modernization programs worldwide. In the civil sector, helicopters find applications in offshore oil and gas transport, search and rescue operations, VIP transport, law enforcement, and tourism. This segment has seen growth in emerging economies, where helicopters are increasingly used for civilian transportation and tourism. Military helicopters are essential for defense and security operations. They serve roles in troop transport, reconnaissance, anti-submarine warfare, and disaster relief, often equipped with advanced technology, making them a vital part of a nation's defense infrastructure.

The helicopter industry is witnessing significant technological advancements. This includes the development of more fuel-efficient engines, improved avionics, and advanced materials, leading to enhanced performance and safety. Moreover, there is a growing focus on electric and hybrid propulsion systems, promising reduced emissions and operating costs. Unmanned helicopters, often referred to as drones, are on the rise with various applications, including surveillance, cargo transport, and even experimental passenger transportation. The concept of Urban Air Mobility (UAM) is gaining traction, with many companies developing electric vertical takeoff and landing (eVTOL) aircraft for urban transportation. While not traditional helicopters, they are part of the broader rotorcraft market. Challenges in the industry include the high cost of acquisition and operation, stringent regulatory hurdles, and intense competition among global players. Looking to the future, the helicopter market is expected to continue growing, driven by the increasing demand for civil applications, such as air ambulances, law enforcement, and tourism. Ongoing modernization of military fleets in various countries will contribute to market growth. Emerging technologies like electric and hybrid propulsion will gain further traction, offering more environmentally friendly and cost-effective solutions. The integration of helicopters into urban air mobility initiatives will expand the market's scope, but challenges related to cost and regulation must be addressed for sustained growth in the global helicopter market.

 

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North America, particularly the United States, is a dominant force in the global helicopter market. The U.S. Department of Defense's continuous modernization efforts drive the military helicopter market, making it one of the largest consumers of rotorcraft. Additionally, the civil and commercial helicopter sector thrives in North America, with applications ranging from air medical services to offshore oil and gas transport. The region is also at the forefront of urban air mobility (UAM) initiatives, with several cities actively exploring the integration of air taxis into their transportation networks. Europe is another significant region in the global helicopter market. European countries invest in military helicopter modernization programs and often collaborate with leading manufacturers such as Airbus Helicopters. The region boasts a robust search and rescue sector, where helicopters are instrumental for operations in challenging terrains. Furthermore, Europe is emerging as a hub for sustainable aviation, with companies working on electric and hybrid helicopters, aligning with the continent's commitment to environmental responsibility.

The Asia-Pacific region is experiencing substantial growth in the helicopter market, largely due to expanding economies and rising defense budgets. Countries like China and India are making substantial investments in both military and civil helicopters to improve transportation and security infrastructure. In major Asian cities, the increasing problem of urban congestion is driving the development of urban air mobility (UAM) solutions, offering opportunities for helicopter manufacturers to participate in emerging transportation concepts.

The Middle East is a notable region for military helicopters, with numerous countries procuring advanced rotorcraft for security and defense purposes. Helicopters are used extensively for surveillance, reconnaissance, and border patrol, especially in areas with heightened security concerns. In Africa, helicopters are crucial for humanitarian and medical missions, providing critical support during crises and natural disasters.

Latin America has a growing civil and commercial helicopter market, driven by tourism, air medical services, offshore transport, and law enforcement. Companies like Embraer and Airbus have established a significant presence in the region. Governments are also investing in military helicopters to bolster their defense capabilities, especially in countries with challenging geographical terrains.

In conclusion, regional insights are fundamental for comprehending the global helicopter market's complexity. The industry's dynamics vary significantly based on geographical considerations, making it crucial for stakeholders to tailor their strategies and offerings to meet the specific needs and opportunities in each region. The market's dynamism is further shaped by the evolving requirements and circumstances in different parts of the world.

 

Major companies operating in Global Helicopters Market are:

  • Airbus SAS
  • Textron Inc.
  • Hindustan Aeronautics Limited
  • Enstrom Helicopter Corporation
  • Korea Aerospace Industries, Ltd
  • Lockheed Martin Corporation
  • Robinson Helicopter Company
  • Russian Helicopters JSC
  • Aviation Industry Corporation of China
  • Boeing

 

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“The global helicopter market presents a dynamic landscape with both challenges and opportunities. While military modernization efforts and growing demand in civilian applications are driving growth, there are hurdles related to cost, regulation, and competition that must be addressed for sustained success. Technological advancements, the rise of electric and hybrid propulsion, and the integration of helicopters into urban air mobility initiatives are promising trends for the future, offering innovative solutions to meet evolving transportation needs and environmental concerns. Regional variations play a vital role in shaping the market's trajectory, with North America and Europe leading in terms of innovation and adoption of sustainable practices,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Helicopters Market – Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By Type (Military, and Civil & Commercial), By Component & System (Airframe, and Engine), By Point-of-Sale (OEM, and Aftermarket), By Region, Competition, 2018-2028, has evaluated the future growth potential of Global Helicopters Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Helicopters Market.


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Relevant Reports

Helicopters Market – Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By Type (Military, and Civil & Commercial), By Component & System (Airframe, and Engine), By Point-of-Sale (OEM, and Aftermarket), By Region, Competition, 2018-2028

Aerospace and Defense | Dec, 2023

Military modernization, expanding civilian applications, and continuous technological advancements are the factors driving market in the forecast period 2024-2028

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