Market Highlights
Helicopter tourism is a new dimension of tourism. The tours are offered to the passengers/tourists by the helicopters over the popular places or less crowded places, in a country, giving them the time and opportunity to capture the scenic aerial view. During the last decade, the introduction of new tourist destinations has brought about a revolution in the global tourism industry. With the increase in the number of the tourism service providers, there has been a significant growth in the demand for air travel and a simultaneous rise in the number of aircraft and helicopter. Some countries, such as Australia, France, Spain, South Africa, Hong Kong, Indonesia, U.K., and U.S. have been major beneficiaries of global tourism, over the years.
The factors that are responsible for the growth of automotive helicopter tourism market are growing demand for decline of crude oil prices, increasing use of commercial helicopters, growing popularity of helicopter travel, and rise in tourism. There has been a significant decline in crude oil prices, which has directly impacted the aviation industry. Moreover, post the exit of Britain (Brexit) from the European Union (EU), there has been a substantial dip of 2.6% in the crude oil prices. This decline had led to a price of USD 47.16 per barrel. The massive decline in the prices of crude oil and standard aviation fuel, is a major challenge for the oil equipment companies. This, however, works in favor of the airline or the helicopter companies, reducing their operating costs and enabling them to lower the air fare. Consequently, it becomes easier for tourists/passengers to afford air travel.
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Major Key Players
Airbus (France),
Bell Helicopter Textron Inc. (U.S.),
Leonardo – S.p.A (Italy),
Russian Нelicopters JSC (Russia),
Sikorsky Aircraft Corporation (U.S.),
AVIC (China),
Enstrom Helicopter Corp. (U.S.),
MD HELICOPTERS, INC. (U.S.),
Robinson Helicopter Company (U.S.)
Turkish Aerospace Industries Inc. (Turkey).
The Helicopter Tourism Market is expected to reach USD 941.6 million by 2023 at a CAGR of 4.17% during the forecast period.
The global helicopter tourism market is segmented based on tourism type, ownership, and region. On the basis of tourism type, the market as segmented as customized tourism and general tourism. Customized Tourism accounted for the largest market share of 62.35% in 2016, with a market value of USD 444.1 million, and is projected to grow at the highest CAGR of 4.28% during the forecast period. The growth in tourism sector, has resulted in the growth of the economy. Many tourism companies are partnering with resorts and private helicopter companies in order to provide customized services to tourists. This will result in the increasing use of helicopters in tourism, which will indirectly result in the growth of the market. Based on ownership, the market is segmented as fractional ownership, charter service, and joint ownership agreements. Fractional Ownership accounted for the largest market share of 48.18% in 2016, with a market value of USD 343.2 million and is projected to grow at a CAGR of 4.08% during the forecast period.
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On the basis of regions, the market is segmented based on North America, Asia Pacific, Europe, and Rest of the World. The North America region is expected to dominate the helicopter tourism market due to rising helicopter tourism in major markets such as U.S., Argentina, Canada, Brazil, Mexico, and Peru. All these countries have advanced infrastructure and tourism destination which signifies the potential of the market. There are a large number of helicopter companies based in this region, which proliferate the tourism business. They are engaged in providing private, customized, or general tours to the passengers. Due to favorable government regulations and increasing partnerships with tourist resorts, helicopter operators face no trouble in offering tours to the customers. Europe is the second largest region that is expected to dominate the market during the forecast period due to steady increase in the number of helicopter companies coupled with the large number of tourist destinations in this region.
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