Tilt Rotor Aircraft Market in Asia Pacific - Opportunities, trends and Challenges (2018-2023)
In today’s scenario a lot of missions are required to be carried out civil, military and also humanitarian in rugged and Inhospitable Terrain. A fixed wing plane needs a proper runway to land and a helicopter has lower range and speed as well as low capacity, so a requirement arose for fixed wing that could land like a helicopter. This requirement resulted in the production of the Tilt Rotor Aircraft.
In a Tilt Rotor Aircraft lift and propulsion is generated by its powered rotors which are usually mounted at the end of a Fixed Wing. This enables the aircraft to achieve vertical lift off and then work as a conventional fixed wing aircraft. It combines the advantages of a Fixed Wing Aircraft and Helicopter but without their shortcomings. In a Tilt Wing Aircraft the entire wing pivots while in a Tilt Rotor Aircraft only the rotor pivots. The First Design which was of some resemblance to the present day tilt rotor was mooted in 1930 by George lehberger, but that design never saw production. The V 22 Osprey which is currently the only production tilt rotor aircraft is an expensive aircraft, both in terms of per unit cost as well as maintenance. It costs over $70 million per unit to purchase and its running costs are in excess of $83000 per hour, and even considering the cost of running military aircraft (its cost is huge). This aspect is one of the most worrying aspect and the most major obstacle to the future of the Tilt Rotor Market. Bell needs an order of 20 per year to keep its factory running at capacity but the actual demand figure is nowhere close to that at a maximum of 5-6 per year. Same is true for the AW 609 which is an upcoming Civilian Tilt rotor Aircraft which has been built upon the experience gained on the V22 Osprey.
With a population of 4.2 Billion, Asia Pacific is the biggest market in the world by population and soon with the exponential growth within the future for some of its economies like India, Vietnam etc. It is on course to becoming the most economically significant region in the world. Defense budgets of Asia Pacific countries are expected to grow at a CAGR of 4.97% until 2020 and Indonesia will be the fastest growing market with annual growth rates averaging 13.2% a year up until 2020
The major problem in this part of the world is infrastructure and the comparatively low social overhead capital, in other words there is a shortage of runways and thus poor connectivity. Thus a market for a tilt rotor aircraft is enormous in this region as these don’t require a fully fledged runway which is difficult to make in mountainous regions and also due to low funds. But the tilt rotor can land in a helipad as easily as a helicopter and carry more transport and payload at higher speeds than a regular chopper. Hence the Tilt rotor Aircraft is perfectly suited for the Asia Pacific countries and helps them achieve their goals.
What the report offers
The study identifies the situation of Asia Pacific and predicts the growth of its Tilt Rotor Aircraft Market. Report talks about growth, market trends, progress, challenges, opportunities, government regulations, technologies in use, growth forecast, major companies, upcoming companies and projects etc. in the Tilt rotor aircraft market of the Asia- Pacific Region. In addition to it, the report also talks about economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector. Lastly, the report is segmented by various types, purpose of Tilt Rotors and by various countries of The Asia Pacific Region.