May 1, 2023
(press release)
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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 List of Key Companies Profiled in the Report: Further Report Findings 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 By Weight By Application By Point of Sale By Geography sales@fortunebusinessinsights.com
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