Helicopter Market Size to Grow USD 29480 Million by 2029 at a CAGR of 2.2% | Valuates Reports
BANGALORE, India, Jan. 22, 2024 /PRNewswire/ -- Helicopter Market is Segmented by Type (Light, Medium, Heavy), by Application (Medical Services, Corporate Services, Disaster Management, Law Enforcement, Oil and Gas, Defense)): Global Opportunity Analysis and Industry Forecast, 2024-2029.
Global Helicopter market is projected to reach USD 29480 Million in 2029, increasing from USD 24500 Million in 2022, with a CAGR of 2.2% during the period of 2024 to 2029.
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Major Factors Driving the Growth of Helicopter Market:
A number of factors are coming together to drive the growth of the helicopter market: the need for emergency medical services is growing, which has led to the development of specialized helicopters; military modernization efforts are increasing globally; urban air mobility initiatives are emerging and fostering creative transportation solutions; there is a persistent need for support for offshore oil and gas exploration; helicopters are essential for search and rescue operations; technological a Together, these interrelated factors support the helicopter market's dynamic growth and diversity across several industries and uses.
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TRENDS INFLUENCING THE GROWTH OF HELICOPTER MARKET
One key driver of market expansion is the growing need for helicopter services in emergency medical situations. When it comes to providing quick and effective medical evacuation from isolated or inaccessible locations, helicopters are essential. Modern medical facilities have been added to helicopters specifically designed for emergency medical services (EMS) providers in response to the growing need for quick responses from healthcare systems. Governments everywhere are making large investments in military modernization initiatives, which is propelling the purchase of cutting-edge helicopters for defense uses. Sophisticated equipment is installed in modern military helicopters to facilitate combat operations, reconnaissance, and surveillance. The expansion of this industry has been facilitated by the requirement for adaptable and high-performing rotorcraft in a variety of defense applications, such as anti-submarine warfare, troop transport, and search and rescue.
The market for helicopters has expanded thanks to the rise of urban air transportation programmes. In an effort to reduce traffic in cities, businesses are investigating whether air taxis and on-demand helicopter services are feasible. The development of electric and hybrid-electric helicopters with vertical takeoff and landing capabilities is being fueled by this growing industry, opening up new markets for urban mobility products. The support of offshore oil and gas exploration operations remains greatly dependent on helicopters. Helicopters are in constant demand in the oil sector due to the necessity for workers and equipment to be transported to isolated offshore installations quickly and efficiently. The market for helicopters is anticipated to expand in parallel with a rise in offshore drilling and exploration operations.
The market for helicopters has grown significantly in recent years due to the quick development of technology. More effective and adaptable helicopters have been created as a result of advancements in avionics, propulsion, and material technologies. Helicopters are now much safer and perform much better because of the incorporation of cutting-edge technology including upgraded navigation systems, fly-by-wire systems, and sophisticated rotor designs. The need for updated helicopter fleets is being driven by these technical advancements, which are attracting both military and civilian clients. Helicopters are extremely useful for search and rescue missions due to their flexibility. Helicopters are used by governments, coast guards, and commercial groups to react quickly to situations like natural catastrophes, marine mishaps, and mountain rescues.
Helicopter uses in the commercial aviation industry have grown, encompassing everything from aerial filmmaking and law enforcement to VIP transportation and tourism. When it comes to accessing locations that are difficult for conventional fixed-wing aircraft to reach, helicopters provide a distinct edge. Commercial operators are realizing that helicopters can be used for a wide range of tasks, which is leading to market expansion in non-traditional roles and the development of a robust and diverse sector.
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HELICOPTER MARKET SHARE ANALYSIS
With a strong presence in both the military and civilian helicopter markets, North America is a major participant in the worldwide helicopter industry. The need for modern military helicopters, emergency medical services, and search and rescue missions is what propels the market in this area. Particularly in the United States, there is a thriving helicopter sector whose continuous expansion is fueled by military modernization initiatives.
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Featured Companies:
- Airbus
- Bell Helicopter Textron
- Boeing Co
- Leonardo
- LockHeed Martin
- Russian Helicopters
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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- Attack Helicopters market is projected to reach USD 42930 Million in 2029, increasing from USD 21880 Million in 2022, with a CAGR of 10.9% during the period of 2023 to 2029.
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- Helicopter Tail Boom market is projected to reach USD 2372.8 Million in 2029, increasing from USD 1480 Million in 2022, with a CAGR of 6.9% during the period of 2023 to 2029.
- Helicopter Drones market size is expected to reach USD 179.6 Million by 2029, growing at a CAGR of 5.0% from 2023 to 2029.
- 300 to 650kg Helicopter UAVs market is projected to reach USD 1245.4 Million in 2029, increasing from USD 854 Million in 2022, with a CAGR of 6.1% during the period of 2023 to 2029.
- Aircraft Engine MRO market was valued at USD 40820 Million in 2022 and is anticipated to reach USD 66970 Million by 2029, witnessing a CAGR of 8.6% during the forecast period 2023-2029.
- Helicopter Flight Control Systems Market
- Large Payload Unmanned Helicopter market is projected to reach USD 52910 Million in 2029, increasing from USD 29160 Million in 2022, with a CAGR of 8.9% during the period of 2023 to 2029.
- Single-seat Ultralight Helicopter Market
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- Civil Helicopter market size is expected to reach USD 9455.2 Million by 2029, growing at a CAGR of 4.0% from 2023 to 2029.
- Radio-Controlled Helicopters Market
- Piston-engined Helicopter Market
- Emergency Medical Services (EMS) Helicopter Market
- Civil Aircraft and Helicopter Maintenance, Repair, and Overhaul (MRO) Market
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