Overview
Global Helicopters Market is expected to reach USD 38,300.9 Million by 2026 at a CAGR of 2.92% during the forecast period.
The use of helicopters is increasing for emergency medical services (EMS) as they offer specialized crew and necessary equipment for emergencies. In remote locations and cases where time is of the essence, helicopter EMS (HEMS) play a vital role in saving lives. This has led the governments in various countries to support the implementation of helicopters as air ambulances.
Segmental Analysis
The Global Helicopters Market has been segmented based on Component & System, Type, Application, and point of sale.
Based on component & system, the helicopters market has been segmented into airframe and engine. The airframe segment dominated the market with a valuation of USD 17,940.1 million in 2019 and is expected to reach USD 22,363.9 million by 2026. The airframe of helicopters consists of sheet metal and a tubular structure. This structure is generally made of stainless steel or titanium alloy as these materials can sustain the load, high stress, and strain during critical missions. The airframe includes the avionics, main rotor systems, aerostructures, transmission systems, and anti-torque systems.
On the basis of type, the global helicopters market has been classified as military and civil & commercial. The civil & commercial segment is expected to exhibit the highest CAGR of 3.07% during the forecast period. The demand for commercial helicopters has been increasing over the past few years. In civil & military, light and medium helicopters are being used widely. The light helicopters have a load-carrying capacity of fewer than 3.1 tons, and the medium helicopters have a load-carrying capacity of between 3.1 to 8.5 tons.
By application, the global helicopters market has been divided into civil & commercial and military. The military segment is expected to register the highest CAGR of 3.54% during the forecast period. Medium and heavy helicopters are mostprimarily used for military applications. Medium helicopters are used in the military to carry heavy artillery, such as rockets and missiles. Heavy helicopters are widely used in the military to transport troops, combat vehicles, and artillery.
On the basis of point of sale, the global helicopters market has been classified as OEM and aftermarket. The aftermarket segment is expected to exhibit the highest CAGR of 3.67% during the forecast period. The aftermarket segment includes MRO service providers, component manufacturers, and suppliers. OEM also provides aftermarket services to their customers. However, many non-OEM firms also provide MRO services and replace wearable parts of the helicopters. The non-OEM manufactures replace parts and sell them at a low cost than the OEMs.
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Regional Analysis
The geographic analysis of the global helicopters market covers North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
North America led the market with a valuation of USD 10,917.1 million in 2019, and the regional market is expected to reach USD 13,323.6 million by 2026 at a CAGR of 3.04% during the forecast period. This can be attributed to the presence of major manufacturers, such as Textron Inc., Lockheed Martin Corporation, and Boeing in the region.
Europe was the second-largest market with a valuation of USD 8,743.1 million in 2019. The European market is projected to exceed USD 10,413.9 million by 2026 at a 2.68% CAGR during the review period. Market growth in the region is driven by the increase in the use of helicopters for tourism and emergency medical services.
Competitive Analysis
The key players in the global helicopters market are Airbus SAS (Netherlands), Textron Inc. (US), Hindustan Aeronautics Limited (India), Enstrom Helicopter Corporation (US), Korea Aerospace Industries, Ltd (South Korea), Leonardo SpA (Italy), Lockheed Martin Corporation (US), MD Helicopters, Inc. (US), Robinson Helicopter Company (US), Russian Helicopters, JSC (Russia), Aviation Industry Corporation of China (China), and Boeing (US).
Key Developments
- In May 2019, Airbus collaborated with the Hungarian government to establish a manufacturing facility in Gyula to manufacture metallic elementary parts for the Airbus helicopter range. With the development of the new facility, Airbus aims at strengthening its position in the Hungarian helicopter market.
- In November 2018, Airbus, with an aim at strengthening its presence in the Asian helicopter market, planned to develop an MRO facility in Japan.
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