NEW YORK, Oct. 4, 2023 /PRNewswire/ — The commercial helicopter market is expected to grow by USD 2.346 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 5.87% during the forecast period. The market is segmented by application (oil and gas, law enforcement and public safety, transport, and medical services), type (light, medium, heavy, and very large), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The increase in the adoption of commercial helicopters in multiple applications is a key factor driving market growth. There are significant benefits to commercial helicopters being able to work in areas that are virtually out of reach of alternative modes of transport. They are capable of landing within restricted areas, i.e., more than twice their rotor disc area. Due to their low purchase and operating costs, they are also more economical than fixed-wing aircraft. In addition, the application of commercial helicopters includes aircraft lifting cranes, aerial photographs, air ambulance services, firefighting, and oil and gas industries. Moreover, demand for helicopters in different applications is increasing due to advances in modern aircraft technologies coupled with the effectiveness and safety of operations. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the commercial helicopters market: Airbus SE, Enstrom Helicopter Crop., Hindustan Aeronautics Ltd., Kaman Corp., Kawasaki Heavy Industries Ltd., Leonardo Spa, Lockheed Martin Corp., Robinson Helicopter Co. Inc., Rostec, Textron Inc., and The Boeing Co.
- Commercial Helicopters Market is concentrated in nature.
- Market to observe 4.68% YOY growth in 2023.
Market Dynamics:
Major Trend
- Integration of big data with helicopter avionics is a major trend in the market.
- To detect possible safety risks and ensure a secure way for passengers, all helicopters can be monitored with advanced Big Data Analytics tools at the same time.
- For example, hazards that could compromise performance or pose problems in the helicopter operating at an earlier stage can be detected through analysis of flight data resulting from a component production cycle for helicopters.
- Additionally, as Big Data enables safer and more cost-effective travel, many helicopter tour companies are integrating such services into their helicopters.
- Hence, these factors are expected to drive market growth during the forecast period.
Significant Challenge
- Mounting the number of accidents involving commercial helicopters is a significant challenge restricting market growth.
- There are a high number of moving parts and components in commercial helicopters, which makes it possible for them to fail.
- The helicopter will not be able to control itself if any component fails.
- Moreover, due to the constant motion of these components, it’s very likely that they’ll be worn out rapidly and could lead to an accident.
- Furthermore, tourists are discouraged from taking flights by helicopter due to an increasing number of accidents.
- Hence, these factors are expected to restrict market growth during the forecast period.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Keg Segments:
The oil and gas segment will account for a major share of the market’s growth during the forecast period. The oil and gas sector is heavily influenced by the commercial helicopter services. In the demanding and dangerous open ocean environment, helicopters are used for maintenance and inspection of offshore oil platforms as well as crew transport to and from these installations. With increasing demand for crude oil because of more offshore drilling and development activities at new shallow sea platforms, the commercial helicopter market is expected to grow. Additionally, an increase in oil and gas exploration and production projects is expected to increase demand for commercial helicopters for surveillance or geophysical applications. Hence, these factors are expected to drive segment growth during the forecast period.
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Commercial Helicopters Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.87% |
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Market growth 2023-2027 |
USD 2.34 billion |
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Market structure |
Concentrated |
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YoY growth 2022-2023 (%) |
4.68 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 34% |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Airbus SE, Enstrom Helicopter Crop., Hindustan Aeronautics Ltd., Kaman Corp., Kawasaki Heavy Industries Ltd., Leonardo Spa, Lockheed Martin Corp., Robinson Helicopter Co. Inc., Rostec, Textron Inc., and The Boeing Co. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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 across 50 countries. Their client base comprises enterprises of all sizes, including over 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
