Helicopter Market Size
Helicopter Market size surpassed USD 29 billion in 2020 and is predicted to develop at 4% CAGR during 2021-2027.
Increasing military expenditure around the world is fueling industry growth.
Helicopter is an aircraft which is equipped with horizontally rotating rotors that provide lift and thrust to it. This enable helicopter to take-off, land vertically, hover, to move forward, backward and sideways.
To obtain vital market trends
Increasing use of helicopters in commercial operations and military action combined with the aircraft’s potential to fly over the extreme terrain is driving market demand. Attributes, including cabin capacity, operating range, improvement in performance technology, and company experience, are largely driving adoption of new helicopters.
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Helicopter Market Report Attributes
Report Attribute Details
Base Year 2020
Helicopter Market Size in 2020 29 Billion (USD)
Forecast Period 2021 to 2027
Forecast Period 2021 to 2027 CAGR 4%
2027 Value Projection 39 Billion (USD)
Historical Data for 2016 to 2020
No. of Pages 300
Tables, Charts & Figures 553
Segments covered End-Use, Component, Sales Channel
Growth Drivers
Emerging demand for helicopter fleet upgrade throughout the world
Increasing use of helicopters in Emergency Medical Services (EMS) applications in North America and Europe
Growing government programs to upgrade local manufacturing strength in Asia Pacific
Consistently rising defense industry expenditure in Asia Pacific and Latin America
Supportive government regulations for defense sector
Proliferation of helicopters in commercial aviation across MEA
Pitfalls & Challenges
High operational cost of helicopter
Limited short-range transportation
What are the growth opportunities in this market?
The growing need for helicopters to provide emergency medical services will give it growth prospects up to 2027. Helicopters can reach at high-altitude places more quickly than land vehicles. In some situations, helicopters are the mode of transport of choice to cover untourable places within a limited amount of time. Early medical care is provided to patients and their survival rate in critical cases increases manifold.
The reasons behind the industry’s slow growth are high R&D and operational costs of helicopters. The helicopters are in operation for a long period of time in the air, raising the total maintenance cost due to repeated wear and tear of essential parts such as tail rotor systems and engines. Moreover, end-users need to pay a heavy insurance price and tax while buying a new helicopter, which impacts the market representation of helicopters.
The aerospace & defense sector has been affected noticeably because of the current COVID-19 situations. The production units for different manufacturers have been closed down on the basis of enforcing stringent pandemic regulations. The helicopter industry around the world has been negatively affected during the spreading of the COVID-19 pandemic. Industry constraints, including the shortage of labor and raw materials, resulted in several challenges in creating new helicopters, resulting in an enormous gap between demand and supply. With the relaxations on lockdown measures by different governments, the market will see a drastic growth in 2021.
Helicopter Market Analysis
The commercial end-use segment is expected to experience an upward growth rate in 2021 to 2027 propelled by the expanding use of commercial helicopters in the tourism, offshore, and helicopter transportation services. In 2020, nearly 550 commercial helicopters were retailed in the U.S. The commercial helicopters will experience a growing demand from oil & gas and offshore applications spearheaded by the diversified utilization of these helicopters for inspection and maintenance of oil rigs offshore.
Find more about the dominant segments defining this market
The avionics segment in Europe represented approximately 20% of helicopter market share in 2020. The demand for the avionics segment is increasing due to the increasing market trend of technologically enhancing the current system. These systems enable to operate within accepted safety parameters and monitor and report performance metrics.
Major players in the helicopter sector are modernizing their systems with state-of-the-art avionics parts. For example, in March 2019, Honeywell launched a new communication technology Aspire 200 satellite communications system for Bell B429 helicopter.
The Europe OEM category dominated over 75% of the helicopter market share in 2020 fueled by the growth in adoption within commercial and military applications. Some of the top OEMs like Airbus Helicopters SAS, Bell Helicopter, Boeing, Mitsubishi Heavy Industries, Kawasaki Heavy Industries, and Leonardo S.p.A. are the key producers serving the dynamic demand.
Leading vendors primarily emphasize launching products to improve their product portfolio and meet evolving end-user demands. For example, in August 2020, Airbus Helicopters SAS launched a new Lakota helicopter fleet for the U.S. Army and National Guard. UH-72B Lakota was launched by the company. The adoption of helicopters by the military industry will drive the market revenue throughout the forecast period.
Find out more about the dominant segments driving this market
North America helicopter market worth approximately USD 10 billion in 2020 Driven by increasingly rising recreational activities across the region. Rising air sports activities like aerobatics, parachuting, and paragliding are creating high-growth opportunities.
The availability of several key players, including Bell Textron, Boeing, Lockheed Martin, MD Helicopters, and Robinson Helicopter Company, in the region is expected to increase the market share. These players are primarily engaged in establishing new long-term strategic alliances to new business opportunities and increase their revenues. For example, in December 2020, MD Helicopters, Inc. and the U.S. Army entered into a contract to supply logistics support for the MD 530F Cayuse Warrior reconnaissance and light attack helicopter fleet for Afghanistan Air Force. The contract value is USD 34 million, positively contributing to the speeding market revenues.
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Helicopter Market Share
Manufacturers in the helicopter industry are focused primarily on adopting strategies, such as product portfolio expansion and strategic partnerships, to enhance their market share. For instance, in December 2019, OCCAR (Organization for Joint Armament Co-operation) and Airbus Helicopters signed a tri-lateral global support contract to provide Tiger helicopters for the German, French, and Spanish Army. The contract includes critical matters such as continuous improvement & obsolescence treatment and secured repair & spares capabilities for the fleet.
The prominent players in the helicopter market include
- Babcock International Group PLC
- Airbus Helicopters SAS
- Bell Helicopter
- Robinson Helicopter Company
- Kawasaki Heavy Industries
- Mitsubishi Heavy Industries, Ltd.
- Boeing
- MD Helicopters
- Universal Helicopters
- Vietnam Helicopter Corporation
- Lockheed Martin Corporation.
