Helicopter blades market to accrue substantial proceeds from main rotor blade segment, rising spurt of tourism activities to stimulate the global industry
Publisher : Fractovia | Published Date : 2019-05-28Request Sample
The global helicopter blades market is slated to amass substantial gains in the coming years, on account of surging demand for helicopters from the tourism and transportation industry. Also, increasing utilization of helicopters for medical emergency and defense purposes has further bolstered the remuneration scope of this industry vertical.
U.S. Helicopter Blades Market, By Blade Location, 2018 & 2025, (USD Million)
The growing demand for helicopter blades has prompted market behemoths to invest heavily in research and development to increase operational efficiency and speed of the helicopters. Several giants are also deploying 3D printing & additive manufacturing techniques, so as to considerably reduce production time and accelerate prototype creation. In a recent example, Thermwood Corporation declared that it is producing helicopter blades for America based aerospace manufacturer Bell Helicopter Textron Inc. by utilizing large scale additive manufacturing 3D printing technologies.
Increasing defense budget to heighten product demand
Growing military budgets worldwide and increasing expenses on war preparedness are slated to increase the adoption of combat helicopters, thereby augmenting helicopter blades market size. According to a statement released by the South Korean Defense Acquisition Program Administration, a tender has recently been issued for the procurement of the second lot of ASW (anti-submarine warfare) helicopters for serving the Republic of Korea Navy. It is alleged that the leading contenders for the $804 million contract bid will be Lockheed Martin, aerospace and defense company of the United States, and Leonardo-Finmeccanica, Anglo-Italian defense contractor.
Moreover, the recent tender is a part of a long term strategy, known as the Maritime Operational Helicopter program, which is intended to procure twenty anti-submarine warfare helicopters, in total, by the year 2022. Similar initiative by other defense agencies are predicted to drive the growth pace of the helicopter blades industry.
Rising deployment of main rotor blades to drive helicopter blades industry size
Speaking in terms of the blade location, it has been observed that main rotor blades are more in vogue than tail rotor blades. According to a research report, main rotor blades will account for a substantial revenue share in the helicopter blades market over the years 2019-2025. The revenue contribution of this segment can be attributed to the high requirement of these blades for balancing and lifting the complete weight of the helicopter.
The use of ultrasonic profiling for creating shaped and sectioned blades with an aim to enhance aerodynamics and flying performance will further augment the segmental participation. The emergence of 5 blade helicopter rotor systems for amplifying helicopter’s vibrations and ruggedness together with enhancing holistic flight performance are also projected to further advance the proceeds of helicopter blades industry from main rotor blades. It has further been speculated that major defense organizations across the world including the Russian Ministry of Defense are testing the main rotor blades systems for war helicopters for supporting soldierly operations, thus opening new growth avenues for the market.
Tourism activities to amplify market proceeds
Civil helicopters will constitute a substantial market share owing to burgeoning usage in tourism, travel, and on-demand online helicopter rental services. In a recent instance, seven aviation firms have reportedly gained permission for running helicopter services for Kedarnath Yatra, a renowned religious spot in India visited by over millions of pilgrims from across the world every year. In view of the high tourist turnover, the companies have also slashed chopper rates to ensure maximum profit amid rigid competition.
There are several other examples in this context – say for instance, tourists in Las Vegas indulge in a once in a lifetime experience, and enjoy a scenic 45-minute flight from Las Vegas to the Western Rim of the Grand Canyon, to get a glimpse of the Hoover Dam, Lake Mead, the Mojave Desert, and the Colorado River en route. Hence, rising global expenditure on tourism, vacation, and leisure activities will positively impact the helicopter blades market over the ensuing years.
In a nutshell, the burgeoning utilization of helicopters for a plethora of purposes including defense, industrial, leisure, medical, and travel will undoubtedly amplify the helicopter blades market size in the coming years. As per reliable estimates, global helicopter blades market will surpass a valuation of $685 million by the year 2025.
