Press release
Helicopter Market Analysis 2023 by Top Companies, Business Growth, Key Applications, Demand 2030
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List of Key Players Profiled in the Helicopter Market Report:
Airbus S.A.S (Netherlands)
Textron Inc. (U.S.)
Leonardo S.p.A. (Italy)
Lockheed Martin Corporation (U.S.)
The Boeing Company (U.S.)
Rostec (Russia)
The Robinson Helicopter Company (U.S.)
Kawasaki Heavy Industries Ltd. (Japan)
Hindustan Aeronautics Limited. (India)
Kaman Corporation (U.S.)
Russia-Ukraine WarImpact:
The Russia-Ukraine war has significantly impacted the aviation industry. Majority of helicopter manufacturers of both Russia and Ukraine source parts from suppliers in other countries. Textron Inc. announced that it closed its manufacturing facilities in Russia and will no longer do business within the country, which led to a loss of potential customers and revenue for the rotorcraft market in both countries.
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Segments:
Civil & Commercial Segment to be Prime Part due to Rising Demand for Emergency Services
According to type, the market is bifurcated into civil & commercial and military. The civil & commercial segment holds the largest share in the segment due to rising demand for emergency services and air transportation. The military segment is estimated to have moderate growth with use in disaster relief and humanitarian missions.
Light to Lead Due to Demand for Civil and Commercial Helicopters
According to weight, the market is divided into light, medium, and heavy. Light segment dominated in 2022 due to growing demand for civil and commercial helicopters in sightseeing, aerial photography, and transportation of small groups and cargo.
EMS to Lead Due to Increasing Applications in Healthcare
Based on application, the market is divided into Emergency Medical Service (EMS), corporate service search and rescue operation, oil & gas, defense, homeland security, and others. The Emergency Medical Service (EMS) segment is set to dominate due to increasing applications in healthcare. The search and rescue operation segment has the second largest share owing to its applications in disaster management, aerial firefighting activities, and others.
Pre-Owned to Lead the Segment Due to Various Benefits
Based on point of sale, the market is divided into new and pre-owned. Pre-owned segment is set to dominate due to cost-effectiveness of pre-owned and increased backlog deliveries by OEMs.
In terms of geography, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Drivers and Restraints
Demand for Air Ambulance Services to Propel Market Growth
Demand for air ambulance services is projected to drive the helicopter market growth. The demand for air ambulance services has been increasing as they are one of the fastest means of transportation due to their quickness to offer transportation to critical patients. Their ability to reach remote and inaccessible areas makes them an ideal option for transporting patients to medical facilities with speed and efficiency. The demand for ambulance services is set by the growing elderly population, rise in chronic diseases, and the requirement for prompt medical attention during emergencies.
However, delivery backlogs, high operational, and maintenance costs to impede the market expansion.
Regional Insights
North America to Dictate Market Share Due to Modernization and Expansion of Military
North America held the dominating helicopter market share in 2022 due to modernization and expansion of the military fleet. In June 2022, Lockheed Martin Corp received a five-year contract for USD 2.3 billion to manufacture a minimum of 120 H-60M Black Hawks as the U.S. military seeks a successor to its existing fleet. The five-year contract includes an option for 135 additional aircraft worth USD 4.4 billion, available to the Army, U.S. agencies, and allies.
Europe has held the second-largest share as helicopters are used for the transportation of offshore wind farms and maintenance of wind turbines.
Asia Pacific is the fastest-growing region in the market due to defense spending by emerging countries and increasing demand for lightweight helicopters.
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Competitive Landscape
New Product Launches by the Key Market Players to Boost Market Progress
The market has key players such as Airbus S.A.S, Textron Inc., Leonardo S.p.A., Lockheed Martin Corporation, The Boeing Company, and others. The key players have been adopting strategies such as mergers, acquisitions, product launches, collaborations, and partnerships. In December 2022, Airbus SAS launched DisruptiveLab for the improvement of rotorcraft performance. DisruptiveLab is a flying laboratory that is designed to test technologies that can enhance the performance of aircraft and reduce CO2 emissions.
Key Industry Development
February 2023: Hindustan Aeronautics Limited (HAL) unveiled a new manufacturing unit in Karnataka, India. HAL intends to manufacture more than 1,000 rotary-wing aircraft, with different load capacities and generate revenue of over USD 4 billion over the next two decades.
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