The
increasing demand for technologically advanced helicopters and aging helicopter
fleet and anti-terrorism initiatives are two of the factors contributing to the
growth of the helicopters market. The market is predicted to advance at
a CAGR of 3.4% during the forecast period (2017–2023). Based on type, the
market is bifurcated into military and civil helicopters. Of these, during the
historical period (2013–2016), the military bifurcation led the market in terms
of revenue, and it is expected to continue leading it during the forecast
period.
This
is attributed to its high value-to-volume ratio, growing demand from the
developing countries in Asia-Pacific (APAC), and surging adoption of advanced
defense equipment. The military helicopter bifurcation is further divided into
light, medium, and heavy. Out of these, during 2013–2016, the heavy division
dominated the helicopters market in terms of revenue, and it is
predicted to maintain its dominance during 2017–2023. Heavy military
helicopters are helicopters with a maximum takeoff weight greater than 8,500
kg. These helicopters are widely used for transport, logistics, and utility
operations in the military.
Based
on region, the helicopters market is categorized into North America,
APAC, Latin America (LATAM), Europe, and Middle East & Africa. Among these,
during the 2013–2016 period, North America dominated the market, and it is
expected to continue dominating it during 2017–2023. The retirement of
old-generation helicopters is predicted to offer huge opportunities to the
market in North America. The developing countries of LATAM and APAC, mainly,
China, India, and Brazil, are projected to generate a high demand for civil
helicopters for tourism, law enforcement, and medical services.
Owing
to the several advancements in the technology of the engine, airframe, and
mission systems, helicopters have become more resilient, efficient in harsh
environments, and safe to fly. Furthermore, due to the improved capabilities
pertaining to territorial surveillance, crime prevention, and natural disaster
assistance, the demand for civil helicopters is also on the rise. Military
helicopters are also predicted to be equipped with various technological
developments with the advent of tilt rotorcrafts and compound helicopters that
can offer better operational efficiency.
Some
of the upgraded technologies that are being introduced in the helicopters
market include computation structural dynamics modelling, fly by wire
controls, health and usage monitoring systems, advanced condition-based
maintenance (CBM), and advanced turbine engine programs. In recent years, it
has been witnessed that the application of helicopters has increased across
various sub-industries, including air ambulance, aerial services, and medical
services. In addition, due to the rising demand for high-performance
helicopters from the oil and gas sector, the market is observing significant
growth.
Furthermore,
the market in the U.S. is witnessing growth due to the global war against
terrorism. Conflicts in nations such as Afghanistan and Iraq have been
encouraging the U.S. military to buy new helicopters and upgrade the existing
ones at the same time. In the U.S., in 2018, the government announced an
increase of $54.0 billion in the defense budget, adding a considerable amount
for procuring new aircraft such as helicopters. Thus, the surged budget acts as
a key driver for the growth of the helicopters sector.
Thus,
the replacement of aging helicopters, increasing anti-terrorism initiatives,
and accelerating demand for technologically better helicopters are some of the
factors contributing to the growth of the market.
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