Helicopters Market is anticipated to be valued at US$ 51.4 billion in 2023 and reach a value of US$ 97.1 billion by 2033, growing at a compound annual growth rate (CAGR) of 6.58% from 2023-2033."
The global helicopter market refers all industries involved in the production, sale and maintenance of helicopters. Helicopters are type of rotorcraft that can take off and land vertically as well as hover in place. They're employed for various applications such as military operations, law enforcement services, emergency medical services, search rescue missions and transportation.
The helicopter market is projected to experience steady growth over the coming years, driven by factors such as increased demand for emergency medical services and law enforcement operations, as well as rising military helicopter demand due to geopolitical tensions around the world. Furthermore, new technologies like electric and autonomous helicopters are expected to further fuel growth within this space.
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Key Takeaway:
in September 2021, the global helicopter market was forecast to experience steady growth over the coming years due to increasing demand from industries such as military, medical services, oil and gas, and tourism. Furthermore, technological developments like electric or hybrid helicopters could offer improved efficiency while reducing carbon emissions.
However, the COVID-19 pandemic had a profound effect on the helicopter market in 2020, resulting in decreased demand due to travel restrictions and economic uncertainty. Fortunately, expectations are that this market will recover gradually after the crisis with an emphasis on safety and operational efficiency.
Overall, key takeaways from the helicopter market at that time included potential growth in various industries, the significance of technological innovations, and the necessity to adapt to shifting market conditions - including those caused by pandemic - which were still ongoing.
The helicopter market in Asia, Europe, the UK and the US: An overview.
Asia is one of the fastest-growing regions in the helicopter market, driven by factors such as an increasing demand for air medical services, offshore oil and gas exploration, and tourism. The Asia-Pacific helicopter market is projected to experience a compound annual growth rate (CAGR) of around 6% between 2023-2033.
Europe's helicopter market is primarily driven by military applications, such as search and rescue, transportation, and surveillance. Meanwhile, civil helicopter use in Europe has grown steadily due to increased demand for emergency medical services, corporate transportation services, and tourism. Estimates predict that this segment of the European helicopter market will experience a compound annual growth rate (CAGR) of 6.8% between 2023-2033.
The UK has a robust helicopter market, boasting numerous operators and manufacturers. As an offshore oil and gas exploration hub, demand for helicopter transportation is high. Furthermore, the country boasts an established air ambulance service which further contributes to growth within this sector. However, uncertainty remains regarding Brexit's effect on aviation in the UK.
The US has the world's largest helicopter market, driven by factors such as military operations, emergency medical services, law enforcement, and offshore oil and gas exploration. Projections indicate this sector will expand at a compound annual growth rate (CAGR) of 6.4% between 2023-2033; however, the COVID-19 pandemic has had an adverse effect on all aspects of aviation in America - including helicopter sales.
Market segmentation
Market segmentation is the process of dividing a large market into smaller groups with similar needs, characteristics or behaviors. In the case of helicopters, potential segments exist to help define this division.
Segmentation by type:
- Light
- Medium Lift
- Heavy Lift
Segmentation by application:
- Civil and Commercial
- Transport
- Rescue and Medical Support
- Civil Utility
- Military
- Attack
- Maritime
- Medical
- Search and rescue
- Training
Competitive Landscape
The helicopter market is highly competitive, with companies constantly developing new models and technologies to stay ahead of their rivals. Furthermore, this sector is highly regulated with stringent safety requirements and certification processes that must be fulfilled before a new helicopter can enter service.
Some of the major players in the helicopter market include:
- Airbus Helicopters Inc.
- Bell Helicopter Textron Inc.
- Helicopters JSC
- Leonardo S.p.A.
- Lockheed Martin Corporation - Sikorsky
- Kawasaki Heavy Industries, Ltd.
- Columbia Helicopters, Inc.
- The Boeing Company
- MD Helicopters, Inc.
- Korea Aerospace Industries, Ltd.
Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 48.2 Billion |
| Market Size (2033) | USD 97.1 Billion |
| CAGR (from 2023 to 2033) | 6.58% |
| US Revenue Share | 6.4% |
| Europe Revenue Share | 6.8.7% |
| Historic Period | 2016 to 2023 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2033 |
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