Helicopters Market is Surging with $56,597.5 Million by 2028 - Lockheed Martin Corporation, Boeing, Enstrom Helicopter, Kaman Corporation, MD Helicopters

Helicopters are electro-mechanical products. The disruption in electronics and mechanical parts supply chain due to border closures has negatively impacted the overall production process of helicopters. According to the General Aviation Manufacturers Association (GAMA), the helicopter shipment dropped by 19.2% from 2019 to 2020. Thus, less demand for fixed wing aircraft and helicopters negatively impacted the growth of the market in 2020.

The helicopters market expected to grow from US$ 37,355.5 million in 2021 to US$ 56,597.5 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028.

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Military forces have been investing in procuring advanced SAR helicopters that have pre-installed advanced technology. For instance, in 2020, the US air force invested in a brand-new combat rescue helicopter – the Sikorsky HH-60W. Similarly, in 2020, Canadian government decided to upgrade its air-sea rescue helicopters. The Royal Canadian Air Force (RCAF) has been operating the AW101/CH-149 Cormorant since 2001, commencing thousands of critical search and rescue (SAR) missions. As a part of the Cormorant Mid-Life Upgrade (CMLU) project, the helicopter will be upgraded with advance communication, navigation system, and other such components. Europe has one of the strongest military forces and the various European governments have set a huge budget for upgrade and procurement of military equipment. In December 2018, the NSPA Aviation Programme has completed the procurement of a new H215 Super Puma helicopter for the Spanish Air Force. The helicopter allows the performance of search and rescue (SAR) missions. This configuration includes additional fuel tanks to increase the operational range and an emergency floatation system to allow missions over the sea to be conducted.

Impact of COVID-19 Pandemic on Helicopters Market

The recent outbreak of the COVID-19 has significantly affected the world and is continuing to shatter several countries. Until the outbreak of COVID-19, the aerospace industry was experiencing substantial growth in terms of production and services. Despite huge backlogs from the aircraft (both fixed wing aircraft and helicopters) manufacturers; the global aviation industry witnessed a significant rise in the number aircraft procurement (both commercial and military), as well as growth in MRO activities

Strategic Insights
Players operating in the helicopters market are mainly focused on the development of advanced and efficient products.
• In 2021, Leonardo enhanced its customer service growth strategy by opening a Helicopter Training Academy in the US.
• In 2021, Sikorsky-Boeing team revealed an advanced assault helicopter designed to revolutionize US Army capabilities.

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