CHICAGO, July 29, 2020 /PRNewswire/ -- According to the new market research report "Helicopters Market by Point Of Sale (OEM, Aftermarket), OEM Type (Light, Medium, Heavy), OEM Application (Military, Civil & Commercial), OEM Number of Engine, OEM Component & System, Aftermarket by Component & System, and Region - Global Forecast to 2025", published by MarketsandMarkets, the Helicopters Market size is projected to grow from USD 21.3 billion in 2020 to USD 36.9 billion by 2025, at a CAGR of 11.7% from 2020 to 2025. Increased demand for military helicopters is a significant growth driver for the helicopters market. Increased demand for light weight and emergency medical services (EMS) helicopters are other drivers for the market.
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The helicopter market includes major players Airbus Helicopters SAS (France), Bell Helicopters (US), The Boeing Company (US) and Leonardo S.p.A. (Italy). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and South America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect helicopter production and services by 7-10% globally in 2020.
By type, the light (<3.1 tons) civil & commercial segment is projected to grow at a higher CAGR during the forecast period.
More than 50% of the global civil & commercial helicopter deliveries in 2018 were light helicopters, mainly due to their operational efficiency and easy maneuverability, which are essential for civil & commercial applications such as transport, civil utility, and offshore, among others. High demand for civil & commercial applications such as short distance air transport and a rise in the number of offshore rigs have also fueled the demand for light helicopters.
By application, civil & commercial transport helicopters are expected to lead the market for helicopters during the forecast period.
The transport helicopters segment is projected to lead the application market during the forecast period due to the increasing demand for helicopters as a mode of inter- and intra-city transport. The vertical take-off and landing (VTOL) capabilities of helicopters, along with the lower space requirements for helipads as compared to airports, are the main factors fueling this demand. Travel by helicopter also saves time as compared to other modes of transport, which is another factor contributing to the demand for light and medium transport helicopters.
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North America is expected to lead the helicopters OEM market during the forecast period.
North America is estimated to account for the largest share of the helicopters in 2020. The US was the highest military spender in 2019, with a large chunk of the investment focused on the procurement of various military helicopters. The US is a lucrative market for helicopter OEMs in the North American region as the government is investing increasingly to enhance the quality and effectiveness of helicopters and their systems. For instance, in September 2018, Boeing (US) won a USD 2.4 billion helicopter contract from the US Air Force for the procurement of 84 Boeing MH-139 helicopters.
Along with this, the demand for civil & commercial helicopters is continually increasing. Civil usage of helicopters for transport and emergency services has also generated a demand for helicopters for civil applications in the US. As per the University of Chicago Aeromedical Network, in 2018, approximately 900 helicopters undertook 300,000 flights as air ambulances.
North America also has a presence of major helicopter manufacturers Companies such as Bell Helicopter Textron Inc. (US), Boeing (US), and Lockheed Martin Corporation (US), among others.
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