The global commercial helicopter market is expected to attain more than USD 11 billion in revenue by 2027, according to a report on Radiant Insights, Inc. It was valued at USD 8.2 billion in 2017. The market is predicted to grow at a CAGR close to 3.5% over the forecast period (2017 to 2022). Demand for commercial helicopters across industry verticals such as oil and gas and tourism is expected to bode well for global market growth.
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Commercial helicopters are aircraft used by developed countries for travelling purposes. Their end users comprise city governments, security agencies, and businesses. The recession in 2008 had culminated in a slump in helicopter sales. But developments in their production have resulted in low rotor noises and enhanced speeds. Economical maintenance cost of aircrafts, improved commute, and lower accident rates are factors expected to drive their demand in the forthcoming years.
Gas emissions from helicopters were detrimental to the environment, in addition to causing sound pollution. The Clean Sky initiative in Europe is currently adhering to policies outlined by Registration, Evaluation, Authorisation and restriction of Chemicals (REACH) to reduce carbon emission by 40% and reduce decibel levels. Lack of qualified pilots and technicians is expected to deter market sales in future.
Recently, Russian Helicopters gained license for commencing commercial passenger operations of two of its helicopters, Kamov Ka-226 and Kazan Ansat. The company has launched a customer service in collaboration with Strategy Partners Group in order to provide aftermarket services to helicopters till 2030. Improving economies of Southeast Asia have led to countries in the region to create policies for air taxis.
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Bangladesh is gaining increased demand for helicopter taxis for travel purposes. Need for helipads in hospitals and as a preferred mode of transportation by businesspersons is driving regional demand. Helicopters currently being employed by air ferrying companies are Robinson R66, Bell 429, and Airbus Helicopters H135. China is another lucrative market for investors due to relaxed tax rates for leasing. It uses its aircrafts in mining, power line surveillance, agriculture spraying, and search-and-rescue operations.
The worldwide commercial helicopter market is segmented by type and region. By type, the market is divided into light, medium, and heavy helicopters. The medium helicopter segment is reportedly going to gain a 55% share in the market, followed by the light and heavy helicopter segments respectively.
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Regions in the global market include North America, Latin America (LATAM), Asia Pacific (APAC), Middle East, and Africa. North America is projected to dominate the market with a 35.2% market share, followed by APAC and Europe markets. This can be credited to the use of commercial helicopters for helicopter emergency medical services (HEMS) and law enforcement missions. The LATAM market is estimated to witness immense demand due to exemplary fiscal growth enjoyed by countries such as Brazil and Mexico.
Key market players include Bell Helicopter, Sikorsky Aircraft Corporation, Russian Helicopters, Leonardo S.p.A., and Airbus Helicopters SAS. Manufacturers are focusing on research and development in order to reduce weight and increase speed. Faster and reliable helicopters are expected to gain prominence in the years ahead.
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Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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