According to a new report published by Allied Market Research, titled, “Helicopters Market,” The helicopters market was valued at $20.36 billion in 2021, and is estimated to reach $39.87 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031.
North America was the highest revenue contributor. The U.S. dominated the global helicopter market share in North America in 2021, owing to increase in R&D activities; technological developments by key players; and rapid adoption of innovative technologies in making advanced, reliable, precise, and efficient helicopter components. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in procurement and development of advanced helicopter systems by several Asian nations, for instance, China, India, Japan, and South Korea.
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The key players profiled in this helicopter market report include Airbus, Bell Textron Inc, Helicopteres Guimbal, Kaman Corporation, Kawasaki Heavy Industries Ltd, Leonardo SpA, MD Helicopters Inc, Mitsubishi Heavy Industries Ltd, Robinson Helicopter Company, and The Boeing Company.
Depending on application, the helicopter market is fragmented into emergency medical services, oil & gas, defense, homeland security, and others. The homeland security segment was the highest revenue contributor in 2021, owing to a majority of the helicopters being consumed for various homeland security applications throughout the world.
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COVID-19 Impact Analysis
- The COVID-19 impact on the helicopter market is unpredictable, and is expected to remain in force for a few years.
- The COVID-19 outbreak forced governments across the globe to implement stringent lockdown and ban import–export of raw material and parts for most of 2020 & few months in 2021. This led to sudden fall in the availability of important raw materials for manufacturing helicopter components.
- Moreover, nationwide lockdown forced satellite systems manufacturing facilities to partially or completely shut their operations.
- Adverse impacts of the COVID-19 pandemic resulted in delays in activities and initiatives regarding development of advanced helicopter systems globally.
KEY FINDINGS OF THE STUDY
- By type, the military segment is expected to register a significant growth during the forecast period.
- On the basis of weight, the heavy weight segment is anticipated to exhibit significant growth in future.
- On the basis of number of engines, the twin engine segment is anticipated to exhibit significant growth in future.
- According to application, the oil and gas segment is projected to lead the global helicopter market.
- Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
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