Helicopter Tourism Global Market 2018 Global Analysis by Key Players: Airbus, Bell Helicopter Textron, Leonardo, Russian Нelicopters JSC, Sikorsky, AVIC, Enstrom Helicopter Corp, MD HELICOPTERS, Robinson Helicopter Company
According to a new report by Market Research Future (MRFR), the global helicopter tourism market is anticipated to touch a revenue of USD 941.6 million by the end of 2023. The market is expected to witness 4.17 % CAGR during the assessment period (2017-2023) owing to the growing use of commercial helicopters. A new dimension of tourism, helicopter tourism offers tourists and passengers an opportunity to capture the scenic aerial view. With the introduction of new tourist destinations during the last decade, there has been a revolution in the tourism industry globally. The travel and tourism have been one of the world’s largest industries with a significant contribution to the economy. Helicopter tourism assists in endorsing a tourist hotel, resort, or destination by enabling scenic view of the place.
The worldwide helicopter tourism market can be divided into four distinct parts. They include, types, ownership and regions. On account of types, the market is segmented into general tourism & customized tourism. Amongst the two, the customized tourism segment grabs the larger market share with 61.8% shares. Experts believe that this sub-division will grow at the CAGR rate of 4.23%.
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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%.
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.
Future Drivers and Restraints Affecting the Market Growth
The tours are offered to the passengers by the helicopters over popular and less crowded places in a country, giving them both opportunity and opportunity to capture the scenic aerial view. With the increasing demand for decline in crude oil prices, increasing popularity of helicopter travel, increasing use of commercial helicopters, and rise in tourism, the market for global helicopter tourism is likely to stimulate over the review period. While the massive decline in the prices of standard aviation fuel and crude oil is a major restraining factor for the oil equipment companies, it works in favor of helicopter and airline companies, reducing their operating costs. Thus, it becomes easier for the passengers and the tourists to afford air travel. Moreover, shortage of transportation infrastructure in larger urban areas is another factor driving the helicopter tourism market globally. With increasing business development and prosperity, the demand for inner-city air travel has stimulated, specifically in the growing markets. The rise in tourism will also result in the growth of helicopter tourism market globally over the review period.
Another latest trend that is expected to gain traction in the helicopter tourism market is the incorporation of big data with helicopter avionics. The development will allow a complete fleet of helicopter to be monitored and detect safety risks at the same time, thus ensuring safety of the passengers.
However, inconvenience associated with helicopter tourism might affect the global market negatively. For instance, an Airbus AS350b2 helicopter on 11th May crashed in New York City’s East River which resulted in the death of over five passengers.
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.
North America to Maintain its Dominance
Geographically, the market for helicopter tourism has been spanned across Asia Pacific, North America, Europe, and Rest-of-the-World. Among these, the North American region is anticipated to dominate the market owing to the growing helicopter tourism in markets such as the U.S., Canada, Argentina, Mexico, Brazil, and Peru. These regions have advanced tourism destination and advanced infrastructure which marks the potential of the market. Moreover, due to government mandates and growing partnership with tourist resorts and hotels, helicopter operators do not face any trouble offering tours to the customers.
The European region holds the second largest position and is expected to maintain its dominance over the forecast period owing to the steady increase in number of helicopter companies and large number of tourist destination in this region.
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