Allied Market Research published a report, titled, “Helicopters Market by Type (Civil and Commercial, Military), by Weight (Lightweight, Medium Weight, Heavy Weight), by Number of Engine (Twin Engine, Single Engine), by Application (Emergency Medical Service, Oil and Gas, Defense, Homeland Security, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global helicopters industry generated $20.36 billion in 2021, and is expected to reach $39.87 billion by 2031, witnessing a CAGR of 7.3% from 2022 to 2031.
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Covid-19 Scenario
- Manufacturing activities of helicopters were stopped completely or partially due to unavailability of raw materials and closure of factories due to lockdown restrictions. Moreover, supply chain disruptions impacted the manufacturing activities as there was a ban on import-export activities in many countries.
- The development of advanced helicopter systems was hindered due to lack of continuity in operations. Moreover, economic uncertainty occurred across the world, which, in turn, led helicopter manufacturers and investors to postpone manufacturing activities until the market stabilizes.
- Upgrade of existing fleets was either postponed or canceled due to reduced demand for helicopters from across the world. Many businesses and wealthy people suffered losses and declined their spending on leisure activities.
- Owing to ban on tourism activities, the usage of helicopters declined considerably during the pandemic. However, the usage for emergency services increased during the pandemic.
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North America to maintain its lead status by 2031
Based on region, North America contributed to the highest market share in 2021, holding more than two-fifths of the global helicopters market, and is expected to maintain its lead status by 2031. This is due to increase in production activities of helicopters in the U.S. and upgrade activities of the existing fleets. However, Asia-Pacific is projected to register the fastest CAGR of 10.3% from 2022 to 2031, owing to surge in procurement and development of advanced helicopter systems by several Asian nations such as India, China, Japan, and others.
Leading Market Players
- Airbus
- Bell Textron Inc.
- Helicopteres Guimbal
- Kaman Corporation
- Kawasaki Heavy Industries Ltd.
- Leonardo SpA
- MD Helicopters Inc.
- Mitsubishi Heavy Industries Ltd
- Robinson Helicopter Company
- The Boeing Company
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