The helicopter market is gaining noteworthy traction on account of increasing defense expenditure by governments worldwide. Several developed and developing countries are investing heavily in the defense sector, in order to showcase substantial aerial dominance.
Generally, helicopters are used across wide range of applications like search and rescue operations, transportation, recreational activities, tourism, agriculture, law enforcement, media, aerial photography, cargo, Emergency Medical Services (EMS), military, and in the construction sector.
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Modern helicopters can easily be modified as per requirement, a key feature that makes them a more desirable option compared to other flying alternatives. To develop more versatile military helicopters, aerospace firms are actively collaborating with defense agencies. Citing an instance, in 2020, Airbus Helicopters joined forces with the French Armament General Directorate (DGA) to initiate a study on enhancing the militarization of H160.
Meanwhile, other factors like technological innovation and developing connectivity abilities like C4ISR could expand the horizon of defense helicopters. The need for upgrading aging helicopter fleets could also stimulate the demand for MROs (maintenance, repair and overhaul). Influenced by these aspects, the helicopter market could cross USD 57 billion by 2026.
The need for design modifications in helicopters, mostly to enhance its operational efficiency, could boost the demand for aerostructure & airframe components over the coming years. Studies suggest that the aerostructure & airframe components segment in helicopter market could observe rampant growth, recording more than 4% CAGR by 2026.
Manufacturer are actively engaging in design modification to enhance product performance. In October 2018, Boeing revealed plans to create a new high-speed Apache gunship that would exhibit a pusher prop on its tail. This upgrade would enable Apache helicopters to remain in service until 2050. The need to change existing airframes and aerostructures due to adverse environmental effects like corrosion and rust could further broaden the prospects of MRO segment in the helicopter market.
Over the past few years, the oil & gas sector has observed significant growth, with new offshore sites being discovered worldwide. Increasing number of mining activities across offshore sites is boosting the deployment of helicopters. In 2019, the offshore segment recorded more than 23% of the overall helicopter market share and is predicted to gross over 4% CAGR within the projected timeframe.
This trend can majorly be observed across the U.S., were oil production, compared to previous, was recorded over 17% more in the year 2018, boiling down to 10.96 million barrels per day. From the overall oil extracted figures, 16% of the produce was registered from offshore activities. Apart from the U.S., other prominent countries catering to the offshore sectors include Iraq, Iran, Saudi Arabia, Kuwait, the UAE, Qatar, Angola, and Algeria.
The MEA helicopter market is projected to record lucrative growth rates by 2026, garnering over 2% CAGR over the estimated period. This growth can be contributed to the dominance of the Organization of the Petroleum Exporting Countries (OPEC) in the region.
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These nations are constantly raising their per day capacity for barrel production to fulfill the ever-increasing demand for crude oil. In order to satisfy growing crude oil demand, extensive offshore mining activities are being commenced across the region which, in turn, is propelling large-scale deployment of helicopters, bolstering MEA helicopter market.
List of Charts & Figures from Helicopter Market Report:
FIG 1 Helicopter market segmentation
FIG 2 Helicopters market, 2015 – 2026 (USD Million)
FIG 3 Helicopters market ecosystem analysis
FIG 4 Helicopters evolution
FIG 5 Growth potential analysis, 2019
FIG 6 Porter’s analysis
FIG 7 PESTEL analysis
FIG 8 SWOT Analysis, Airbus Helicopters S.A.S.
FIG 9 SWOT Analysis, Babcock International Group PLC
FIG 10 SWOT Analysis, Bell Helicopter
FIG 11 SWOT Analysis, CHC Helicopter
FIG 12 SWOT Analysis, Columbia Helicopters
FIG 13 SWOT Analysis, Ehang
FIG 14 SWOT Analysis, Gulf Helicopters
FIG 15 SWOT Analysis, Hindustan Aeronautics Limited (HAL)
FIG 16 SWOT Analysis, Joby Aviation
FIG 17 SWOT Analysis, Kaman Corporation
FIG 18 SWOT Analysis, Karem Aircraft
FIG 19 SWOT Analysis, Kawasaki Heavy Industries, Ltd.
FIG 20 SWOT Analysis, Kitty Hawk
FIG 21 SWOT Analysis, Korea Aerospace Industries, Ltd.
FIG 22 SWOT Analysis, Leonardo S.P.A.
FIG 23 SWOT Analysis, Lilium
FIG 24 SWOT Analysis, Lockheed Martin Corporation
FIG 25 SWOT Analysis, Lufttransport
FIG 26 SWOT Analysis, Md Helicopters, Inc.
FIG 27 SWOT Analysis, Mitsubishi Heavy Industries, Ltd
FIG 28 SWOT Analysis, Neva Aerospace
FIG 29 SWOT Analysis, Opener
FIG 30 SWOT Analysis, Petroleum Helicopters International, Inc.
FIG 31 SWOT Analysis, Robinson Helicopter Company
FIG 32 SWOT Analysis, Russian Helicopters, JSC
FIG 33 SWOT Analysis, The Boeing Company
FIG 34 SWOT Analysis, Universal Helicopters
FIG 35 SWOT Analysis, Vietnam Helicopter Corporation
FIG 36 SWOT Analysis, Volocopter
FIG 37 SWOT Analysis, Workhorse Group
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