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Helicopter Market | Global Leading Players, Industry Updates, Future Growth, Business Prospects, Forthcoming Developments And Future Investments By Forecast To 2025

Author : Ronak Bora | Published Date : 2020-08-26 

Helicopter market to gain massive profits from offshore activities by 2026. A series of investments outlaid by governments for defense sector expansion to depict aerial ascendancy has propelled helicopter market growth in recent times. Of late, helicopters are extensively used in tourism, agriculture, transportation, cargo, military, construction, and offshore activities. The product is easy to modify in accordance with the requirement, which has significantly translated into massive demand for helicopters.

A research study conducted by Global Market Insights, Inc., predicts that helicopter market size will surpass the $57 billion mark by 2026.

Helicopters are highly being modified with the aim to develop operational efficiency, resulting in the generation of lucrative growth avenues for aerospace & airframe segment. For instance, in October 2018, aerospace company Boeing unveiled its plans to develop an innovative high-speed Apache gunship, which is likely to have a pusher prop mounted on its tail. The Apache helicopters are expected to stay in service till 2050 with this latest design upgrade. It is estimated that aerostructure & airframe segment will observe a 4% CAGR over 2020-2026.

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Need for upgrades in aging helicopters to prolong their lifespan has intensified recently, which has generated profit-making opportunities for MROs. Existing models are being updated by changing or modifying their engines to bring operational improvements. Airframes and aerostructures of existing helicopters are witnessing an upgrade to withstand various environmental effects, including corrosion and rust, which will enhance the potential of MRO segment in helicopter industry.

Helicopter market growth is likely to depict a surge from military end-use sector on account of heavy investments in the defense sector. Incorporation of several connectivity capabilities, such as C4IR is likely to incentivize industry growth. Several innovative technologies, such as laser sintering and additive manufacturing are being integrated into helicopters.

For example, in February 2020, Airbus Helicopters and the French Armament General Directorate (DGA) have jointly commenced a research program to advance the militarization of H160. Moreover, OEM operational expenses are considerably slashing, which will improve helicopter market trends.

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Surging offshore activities across the world are likely to push the revenue graph of commercial end-use sector in helicopter industry. In 2019, offshore segment accounted for a 23% share in total market revenue, which can be attributed to the towering oil & gas mining activities. In 2018, the U.S. oil production recorded 10.96 million barrels per day, an upsurge of 17% as compared to 2017. Offshore activities contributed toward a share of 16% in the total amount of oil extracted.

Several countries, including Iraq, Iran, Kuwait, Qatar, Saudi Arabia, the UAE, Angola, and Algeria are playing a major part in expanding the scope of offshore activities. In accordance, offshore segment is predicted to register a CAGR of around 4% over the forecast period.

Elaborating on the regional perspective, Middle East & Africa is poised to emerge as a vital geographical avenue, given the presence of the Organization of the Petroleum Exporting Countries (OPEC) countries. These nations are playing a major role in satisfying the soaring demand for crude oil by expanding their barrel capacity to raise per day production. This extensive offshore mining involves the need for a widespread helicopter network, which will positively impact the regional helicopter market outlook. It is estimated that MEA helicopter industry will register a CAGR of more than 2% over 2020-2026.

Escalating demand for crude oil and ongoing advancements in technologies have persuaded several companies to invest in helicopter market. These firms are pursuing various strategies, such as collaborations, expansions, product development to extend their presence globally. For example, Kawasaki Heavy Industries has almost 100 subsidiaries as of 2018 across the world. The superlative competition among numerous companies is anticipated to increase the growth of helicopter market size in the years to come.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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