Helicopter Services Market Size Hit USD 41.35 Billion by 2026

The global Helicopter Services Market size is projected to reach USD 41.35 billion by 2026 owing to the advent of urban-mobility service concepts worldwide. Helicopter or rotorcrafts air-routed vehicles capable of vertical take-off landing, unlike airplanes and are very useful for operations in remote locations. A recently published report by Fortune Business Insights(TM) titled, "Global Helicopter Services Market Size, Share & Industry Analysis, By Type (Light Weight, Medium Weight, and Heavy Weight), By Application (Offshore helicopter, Air Ambulance, Business/Corporate Travel, Disaster & Humanitarian Aid, Leisure Charter, Transport, Media & Entertainment, and Surveying & Aerial Imaging), and Regional Forecast, 2018-2026." According to this report, the market size was USD 34.19 billion in 2018 and is expected to exhibit a CAGR of 2.41% between 2019 and 2026.

What is the Scope of the Report?

The report offers a comprehensive overview of the market dynamics, such as factors boosting, repelling, challenging, and creating opportunities for the market. It throws light on the table of segmentation of the market based on factors such as type, applications, and regions, and the names of leading segments with the market figures. The report talks about current helicopter services market trends, key industry developments, swot analysis, competitive landscape, and other interesting insights. List of players operating in the market and the significant strategies adopted by them to gain a competitive edge in the competition are also provided in the report. For more information on the market, log on to the company website.

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Market Drivers

Rising Popularity of traveling by-air will Drive Market

The surge in smart city building projects and massive investments in medical infrastructure and facilities are major factors promoting the helicopter services market growth. Additionally, the advent of autonomous technology based on the utilization of artificial intelligence and real-time monitoring will also add impetus to the market. Besides this, the implementation of services such as urban-mobility and electric-vertical take-off-and-landing (EVTOL) are further expected to augment the overall growth of the market during the forecast period. Moreover, the increase in human organ transportation via air ambulance services is also promoting the growth of HEMs, thereby boosting the Helicopter Services Market.

On the contrary, factors such as stringent regulatory measures taken by various governments on account of multiple accidents and fatality cases may cause significant hindrance to the overall market. The Federal Aviation Administration (FAA) laid specific rules and regulations for service providers wherein helicopters should strictly follow specific rules ensuring both pilot and passenger safety to avoid mishaps. Nevertheless, the increasing demand for helicopter emergency medical service (HEMs) will create lucrative growth opportunities for the market in the forecast period.

List of Key Helicopter Services Market Manufacturers:

Carson Helicopters Inc.
Alpine Helicopters Inc.
Air Charters India Pvt. Ltd.
Pheonix-helicopter-charters
PHI International
Gulf Helicopters
Erickson Incorporated
Bristow Helicopters Limited
Air Methods Corporation
Paramount Business Jets
Heli Air Limited

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Regional Segmentation:

Asia Pacific will Emerge as the Fastest Growing Region with Rising Tourism Industry

As far as the regional segment is concerned, the global helicopter services market is categorized into the regions of Europe, Asia Pacific, North America, and the Rest of the World. Among these, North America generated the highest helicopter services market share with a revenue of $20.00 billion in 2018 attributable to the increasing expenditure on commercial helicopters by governments and the growing demand for HEMs. Besides this, the U.S. has significant helicopter service providers, namely Analar Corporation, Wilco Helicopters Inc., Pacific Point Aviation Inc., Air Ocean Aviation, and others, the presence of which is promoting the market growth. Moreover, the increasing demand for oil and gas exploration services, rescue and search operations, and air ambulance services are further expected to aid in the expansion of the regional market.

On the other side, Asia Pacific will witness significant growth owing o the rise in the tourism industry in nations such as China, India, and others and the presence of the highest number of helicopter fleet services in countries such as New Zealand and Australia. In 2018, New Zealand had 1913 helicopter fleets in service.

Competitive Landscape:

Long-term Contracts and Agreements to Help Players Gain Competitive Edge in Market

Major companies functioning in the helicopter services market are emphasizing on geographical expansion and strengthening of service portfolio throughout the world. They are also adopting strategies such as agreements and contracts, mergers and acquisitions, collaborative partnerships with service providers for gaining a higher profit margin. Such policies will not only intensify the market competition but also attract top helicopter services market revenue in the forecast period.

Significant Industry Developments of the Helicopter Services Market Include:

August 2019 - PHI International was acquired by HNZ New Zealand for helping the PGI International to strengthen their service portfolio and earn significant revenue.

February 2019 - Blue Cross and Blue Shield of Texas (BCBSTX) signed a contract with Air Methods for providing medical services to the former companies. This contract aims at expanding the business of all the companies involved all over the U.S.

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This release was published on openPR.