The Global Commercial Helicopter Market was valued at US$ 5.9 Bn in 2021 and is expected to reach US$ 11.5 Bn by 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report, Light type of Commercial Helicopters will remain pivotal for the market as the bulk of revenue will be generated through this category.
Light Helicopters to Continue being Growth Axis for Commercial Helicopters Revenue
Light Helicopters of are used in police operations, geographical surveys, surveillance and other areas where heavy lifting is not necessary and space is limited. The lower costs and the ability to take off, land and stay parked in a smaller area will ensure their popularity remains.
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Technological improvements such as the use of electric power and hybridization to contribute to growth.
The development of technology such as electric power will help reduce noise and operating costs. Developments in electric power for emergency mechanisms can increase safety significantly. Urban Air Mobility positively affects demand as air taxis are gaining popularity to beat congestion and increase connectivity.
Public Safety and Law Enforcement to remain the application with the largest contribution to demand.
With a CAGR of 5% in 2017-2021 and a forecasted CAGR of 5.5% in the 2022-2032 period, law enforcement and public safety will remain the key application. The ability of helicopters to reach remote locations to deliver and extract supplies and personnel and the increasing usage in law enforcement purposes such as surveillance, gathering intelligence, and traffic control means the demand from this application will sustain in the forthcoming years.
The US to Command the Larger Proportion of Commercial Helicopters Supply Chain throughout the Analysis Period
With the world’s largest fleet of helicopters and the largest number of heliports, the US commands most of the revenue generated by Commercial Helicopters. It contributes to over 35% of the market, with a forecasted value of US$ 3.9 Bn by 2032.
“Commercial Helicopters manufacturers nowadays are closely working on harnessing emerging technologies such as hybridization as well as on enhancing costs and durability” comments an analyst at Future Market Insights.
Commercial Helicopters Market: Competition Insights
Commercial helicopter manufacturers are focusing on further enhancing their existing models, improving safety, and harnessing new technologies such as electric power. There are a large number of researchers working on developing technologies for the automation of certain parts of the flying process to reduce loads on pilots. Airbus S.A.S., Bell Helicopter Textron Inc., Enstrom Helicopter Corp., Hindustan Aeronautics Limited, Korea Aerospace Industries, Lockheed Martin Sikorsky Aircraft, and Robinson Helicopter Company are amongst the key companies.
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Some of the recent developments by the key players of the Commercial Helicopter Industry are as follows:
- In June 2022, Germany’s defense department confirmed that they would be buying 60 CH-47T helicopters from US-based company Boeing’s chinook helicopters for military use.
- In March 2022, Airbus Helicopters and the countries including France and Spain announced an agreement. Under the agreement, around 42 of France’s combat helicopters will be upgraded, and 18 of Spain’s, and Germany will be given the chance to enter the program, known as the Tiger MKIII program announced an agreement between France and Spain for its Tiger program. The prototype flight will occur in 2023, and the deliveries to France and Spain will occur in 2029 and 2030, respectively.
- In March 2022, France’s Safran Helicopter Engines and India’s Hindustan Aeronautics Limited signed a memorandum of understanding for their upcoming Joint Venture facility at Sattari, Goa. The planned facility will provide Maintenance and Repair Operation services to Safran and HAL helicopters.
- In November 2021, Russian Helicopters and Avicopter announced that they would be signing a deal to collaborate on the process of developing a multipurpose heavy-type helicopter. Russia’s Russian Helicopters will contribute to the technological development, while China’s Avicopter will work on the designing and prototype process to eventually produce and market it.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Commercial Helicopter Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Commercial Helicopter in terms of Type (Light, Medium, Heavy and Very Large); by Application (Oil & Gas, Medical Services, Transport, Law Enforcement and Public Safety and Other Applications), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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About Future Market Insights (FMI)
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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The post Commercial Helicopter Market to receive overwhelming hike USD 11.5 billion in Revenues by 2032: Exclusive Report by FMI appeared first on Future Market Insights.
