Helicopter Market Size By End-Use (Commercial [Transport, Medical Services/Search & Rescue, Offshore Sector], Military [Reconnaissance, Maritime Surveillance]), By Component (Aerostructures/Airframes, Rotary System, Engine, Undercarriage, Avionics, Cabin Interiors, Environmental Control System), By Sales Channel (OEM, Maintenance, Repair and Overhaul [MRO]), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
The helicopter market is projected to foresee commendable growth in coming years due to increasing spending in air ambulance services across the globe, technological advancements in helicopter engines, and presence of numerous OEM manufacturers. High demand for travel & tourism would lead to a greater number of recreational activities, thereby augmenting the market demand. Helicopters can be used for numerous things.
They can be fully loaded with water to fight large fires or be used as ambulances to carry patients. Helicopters can also rescue people in difficult places like oceans or mountains. Helicopters are used by military forces to move troops as well as get supplies to ships. These are also known to move large objects from one place to another. Helicopters are used by TV and radio stations to fly over cities and to gather report on traffic. These are effectively used by police as well as by people for vacation purposes.
The helicopter market is bifurcated into numerous segment such as end-use, component, sales channel, and regional landscape.
With respect to end-use, the helicopter market is classified into military and commercial. The commercial segment is further classified into offshore sector, medical services/search & rescue, and transport. Among these, medical services/search & rescue segment will record a high growth rate over the coming time period. This growth is attributed to the increasing spending in air ambulance services across the globe.
The helicopter is considered as a flying ICU unit, carrying helicopter emergency medical service doctors as well as paramedics to the emergency incidence spot which enables them to start the treatment immediately while transporting the patient to the hospital. This in turn helps save valuable time.
In disaster situations, helicopters are mainly used as a means of operational command, transport as well as rescue. Helicopters can be well-utilized to fly out endangered or injured persons, fly in essential equipment and specialists, carrying out various rescue operations and evacuations. It is also used to transport equipment and personnel to inaccessible locations or rough terrains.
In terms of component, the overall market is categorized into environmental control system, cabin interiors, avionics, undercarriage, engine, rotary system, and aerostructures/airframes. Among these, the helicopter engines segment will witness strong growth over the coming years. Technological advancements in helicopter engines is likely to drive the segment growth.
Based on sales channel, the market is divided into maintenance, repair and overhaul [MRO] and OEM. In 2020, the OEM segment held maximum market share and is estimated to exhibit a robust growth over the coming time period. This growth is attributed to the presence of various established manufactures across the globe.
From a regional frame of reference, increasing demand for travel and tourism across the Latin America region is slated to augment the demand for helicopters in the region over the analysis timeframe.
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