Helicopter Tourism Market 2018 Analysis by Global Key Players: Sikorsky, Airbus, Enstrom Helicopter Corp, MD HELICOPTERS, Robinson Helicopter Company
The travel and tourism industry is among the world’s largest industries with a significant economic contribution. Over the years, a number of countries, such as Australia, France, Malaysia, U.K., UAE, and US, have consistently grown as popular tourism destinations. At the same time, developing countries such as China, India, Brazil, and South Africa, are also emerging as tourist attractions in the recent years and reaping the economic benefits of the industry.
The worldwide helicopter tourism market can be divided into four distinct parts. They include, types, ownership and regions.
On the basis of ownership, the industry is trifurcated into charter service, fractional ownership & joint ownership agreements. Out of these, the fractional ownership portion holds the biggest chunk of the market with 47.9% shares. It is anticipated to grow at the CAGR rate of 3.67%.
Geographically, this market is spread across regions like North America, Europe, Asia Pacific & Rest of the World.
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Major Key Players
The key players in aerospace flight control system market are Airbus (Netherlands), Bell Helicopter Textron Inc (Texas), Leonardo – S.p.A (Italy), Russian Нelicopters JSC (Moscow), Sikorsky (U.S), AVIC (China), Enstrom Helicopter Corp (Michigan), MD HELICOPTERS, INC (Arizona), Robinson Helicopter Company (California), and Turkish Aerospace Industries Inc (Turkey), .
According to MRFR, The Helicopter Tourism Market is expected to reach USD 941.6 million by 2023 at a CAGR of 4.17% during the forecast period.
For the convenience of the report and enhanced understanding; The Helicopter Tourism Market is segmented in to 3key dynamics
Segmentation by Tourism Type: Customized Tourism and General Tourism.
Segmentation by Ownership: Fractional Ownership, Charter Service, and Joint ownership agreements.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and RoW.
The Americas dominates the global demand for helicopter tourism, with the US, Argentina, Canada, Brazil, Mexico, Peru being the region's major markets. These countries have advanced infrastructures, attractive tourist destinations, and a number of natural and architectural attractions. In addition, the region is known for the hospitality of its people and the varied culture, which signify its potential in tourism.
Americas is home to a number of tourist destinations, ranging from Florida Keys in the US to Niagara Falls in Canada, the Iguaçu Falls in Brazil to Barbados in the Caribbean, and from Los Roques in Venezuela to Cartagena in Colombia. Such places are a treat to view from the top, due to their natural exquisiteness. This is where helicopters come into the picture. There are a large number of helicopter companies based in the region, which proliferate the tourism business. They engage in providing private, customized, or general tours to the passengers. Due to favorable government regulations and increasing partnerships with tourist resorts, the helicopter operators face no trouble in offering tours to the customers.
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The global helicopter tourism market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain the maximum market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront the market growth. In addition, in-house manufacturing capabilities, global footprint network, product offerings, R&D investments, and a strong client base have become the key areas to have the edge over the competitors.
The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide advanced and high-quality helicopters in order to survive and succeed in an intensely competitive market environment.
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