Helicopter Market to Reach USD 76.16 Billion by 2030 with a CAGR of 3.7%; Rising Demand from Military and Defense to Increase the Market Growth Gradually

Sample article from our Government & Public Policy

May 1, 2023 (press release) –

The global helicopter market size is estimated to reach a valuation of USD 76.16 billion by 2030. Fortune Business Insights™ in its report titled “Helicopter Market  Size, Share, COVID-19 Impact & Russia-Ukraine War Impact Analysis, By Type (Civil & Commercial and Military), By Weight (Light, Medium, and Heavy), By Application (Emergency Medical Service, Corporate Service, Search And Rescue Operation, Oil & Gas, Defense, Homeland Security, and Others), By Point of Sale (New and Pre-Owned), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 56.87 billion and is expected to reach 58.87 billion in 2023. The market is expected to witness a strong CAGR of 3.7% during 2023-2030. Their versatility to reach difficult-to-reach areas such as remote locations and disaster zones is set to propel market growth. Electric and hybrid propulsion systems, Big Data, and artificial intelligence are prominent market trends that are expected to develop market pathways. 

Avio Aero Unveiled VRT 500 to Set Progress for Market Expansion

In December 2021, Avio Aero unveiled VRT 500 single-engine light rotorcraft. It is made of an innovative hybrid propulsion system that automatically activates an electric engine to safely assist the pilot during landing maneuvers in case of thermal engine failure. These advancements offer improved safety, efficiency, performance, and new capabilities in unmanned systems and advanced sensors.

Rising Demand from Military and Defense to Propel Market Development        

Rising demand from military and defense is predicted to drive the helicopter market growth. Increasing complexities in modern warfare and the importance of air mobility are expected to propel the market growth. The military and defense sectors are among the largest users and transport and logistics to combat and reconnaissance, rotary-wing aircraft have become essential for military operations in various contexts. They are used for various missions such as troop transport, search and rescue, cargo transport, and medical evacuation. They are also used for combat missions, providing close air support and attack operations.

Technological Advancements and Product Developments to Expand Market Development

Technological advancements and product developments are projected to drive the market growth. Major players have been developing electric and hybrid propulsion systems, integrating artificial intelligence, and shifting toward unmanned systems which led to the production of more efficient and reliable helicopters. Operators use data to optimize maintenance schedules, improve safety, and reduce costs, which make Big Data and analytics important.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/helicopter-market-101685

Launch of Innovative Suites for Military by Market Players to Push Market Growth

The market has Airbus S.A.S, Textron Inc., Leonardo S.p.A., Lockheed Martin Corporation, The Boeing Company, and others as its market players. Market players have been launching innovative suite for military. In July 2022, Elbit Systems Ltd. launched an innovative vision suite for military rotorcrafts which includes an advanced set of sensors, a mission computer powered by Artificial Intelligence (AI), and a distinctive Helmet Mounted Display (HMD) system.

Notable Industry Development

  • January 2023: Leonardo S.p.A. collaborated with Safran S.A. to examine the capabilities and competitiveness of the next-generation AW09 single-engine rotorcraft. The production version of the aircraft will incorporate the latest iteration of the Arriel family, the 1,000 shp class Arriel 2K engine designed for high power output.

List of Key Companies Profiled in the Report:

  • Airbus S.A.S (Netherlands)
  • Textron Inc. (U.S.)
  • Leonardo S.p.A. (Italy)
  • Lockheed Martin Corporation (U.S.)
  • The Boeing Company (U.S.)
  • Rostec (Russia)
  • The Robinson Helicopter Company (U.S.)
  • Kawasaki Heavy Industries Ltd. (Japan)
  • Hindustan Aeronautics Limited. (India)
  • Kaman Corporation (U.S.)

Further Report Findings

  • The market in North America stood at USD 32.03 billion and had the largest helicopter market share in 2022 due to modernization and development of the military fleet in developed economies.
  • Europe is estimated to witness a surge in market growth as augmented and virtual reality is a major trend with companies using these technologies for training and maintenance purposes.
  • Asia Pacific is expected to have considerable growth due to increasing demand for lightweight helicopters and growth in the budget for defense.

Table of Segmentation

  ATTRIBUTE

  DETAILS

Study Period

2019-2030

Base Year

2022

Estimated Year

2023

Forecast Period

2023-2030

Historical Period

2019-2021

Growth Rate

CAGR of 3.7% from 2023 to 2030

Unit

Value (USD Billion)

Segmentation

By Type, Weight, Application, Point of Sale, and Geography

By Type

  • Civil & Commercial
  • Military

By Weight

  • Light
  • Medium
  • Heavy

By Application

  • Emergency Medical Service
  • Corporate Service
  • Search and Rescue Operation
  • Oil & Gas
  • Defense
  • Homeland Security
  • Others

By Point of Sale

  • New
  • Pre-Owned

By Geography

 

  • North America (By Type, Weight, Application, Point of Sale, and Country)
    • U.S. (By Type)
    • Canada (By Type)
  • Europe (By Type, Weight, Application, Point of Sale, and Country)
    • U.K. (By Type)
    • Germany (By Type)
    • France (By Type)
    • Italy (By Type)
    • Russia (By Type)
    • Rest of Europe (By Type)
  • Asia Pacific (By Type, Weight, Application, Point of Sale, and Country)
    • China (By Type)
    • India (By Type)
    • Japan (By Type)
    • South Korea (By Type)
    • Australia (By Type)
    • Rest of Asia Pacific (By Type)
  • South America (By Type, Weight, Application, Point of Sale, and Country)
    • Brazil (By Type)
    • Argentina (By Type)
    • Rest of South America (By Type)
  • Middle East & Africa (By Type, Weight, Application, Point of Sale, and Country)
    • U.A.E. (By Type)
    • Israel (By Type)
    • South Africa (By Type)
    • Rest of Middle East & Africa (By Type)
  • PDF
  • 2022
  • 2019-2021
  • 180

CHOOSE LICENSE TYPE

  • 4850
    5850
    7850
     
 

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