Global Air Ambulance Services Market: Information by Transport Vehicle (Air and Ground), Aircraft Type (Fixed-Wing and Rotary-Wing), Service Model (Community-Based, Hospital-Based and Hybrid), Mission Profile (Inter-Facility Transport, Scene Response and others) and Region (North America, Europe, Asia Pacific and Rest of the World) – Forecast to 2024
Key Players:
The key players identified by MRFR in the global air ambulance services market are Acadian Companies (US), Air Medical Group Holdings (AMGH) (US), Air Methods (US), ALPHASTAR (Saudi Arabia), Babcock Scandinavian AirAmbulance (Sweden), European Air Ambulance (Luxembourg), Express Aviation Services (US), PHI Air Medical (US), IAS Medical (UK), and REVA, Inc. (US).
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Technological Advancements Driving the Global Air Ambulance Services Market
According to the latest report by Market Research Future (MRFR), the global air ambulance services market is slated to register a market valuation of around USD 11.5 billion by 2024, at a steady CAGR over the review period (2019 – 2024).
Several factors likely to influence the global air ambulance services market over the assessment period are the technological advancements taking place in the aviation as well as the healthcare industry, the presence of a large patient population globally, and the rising demand for immediate medical care in emergency cases.
Segmental analysis:
The global air ambulance services market has been segmented on the basis of aircraft type, mission profile, service model, and transport vehicle.
The types of aircraft used in the market are fixed-wing and rotary-wing. The rotary-wing aircraft is expected to record a market share of more than USD 7 billion by 2024, at a CAGR of 2.45% over the review period. Rotary-wing aircraft are majorly deployed for missions and similar operations, including air ambulance services, owing to its superior properties such as easy mobility, hover ability, and vertical take-off and landing. The fixed-wing segment is expected to exhibit a CAGR of 3.78% over the review period.
Based on the mission profile, the air ambulance services market has been segmented into interfacility transport, scene response, and others. The inter-facility transport segment is likely to dominate the market over the forecast period, driven by the need for inter-facility transportation in an emergency.
By service model, the air ambulance services market is segmented into community-based, hospital-based, and hybrid. Among these, the hospital-based segment is leading the market share over the assessment period, driven by its higher demand.
The market is segmented based on the transport vehicle, into air and ground. The ground segment is estimated to acquire around USD 9.3 billion by 2024, owing to the higher usage of ground vehicles, such as small air-conditions vans, full-size vans, and others, equipped with essential apparatus for life support and medication. The air segment is likely to witness a CAGR of 3.69% over the review period.
Regional Analysis:
On the basis of region, the market has been segmented into Europe, North America, Asia Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
The North American region is the largest market for air ambulance services and is estimated to retain its leading market share at a 2.08% CAGR over the forecast period. This is attributed to the established aerospace and defense industry. The stable economy enables the governments of the developed countries in the region, such as the U.S. and Canada, to ensure a continual flow of funding for research and development projects and technological advancements in aircraft. Moreover, the increasing demand for emergency medical services is expected to fuel the demand for air ambulance services over the forecast period. The higher per capita income of consumers has increased the affordability of air ambulance services in the region. The presence of leading market players is also likely to drive market growth over the assessment period.
The European region is the second-largest regional market for air ambulance services. The European region is expected to acquire a significant market share of around USD 2.6 billion over the review period, owing to the established aviation industry, and the presence of notable market players in developed economies such as Germany, France, and the UK.
The Asia Pacific is a potential regional market for air ambulance services and is predicted to acquire USD 1.5 billion by 2024, at a relatively higher CAGR of 5.40% over the forecast period. Asia Pacific is witnessing a change in the economic dynamics in developing countries such as India, China, South Korea, Thailand, among others, along with the rapid industrialization. This is driving the growth of several industrial sectors including the healthcare, and aerospace and defense industry. Moreover, the vast patient populace and technological advancements taking place in the region is also expected to drive the growth of the Asia Pacific air ambulance services market over the review period.
Table of Content:
1 Executive Summary
1.1 Market Attractiveness Analysis
1.1.1 Global Air Ambulance Services Market, By Transport Vehicle
1.1.2 Global Air Ambulance Services Market, By Aircraft Type
1.1.3 Global Air Ambulance Services Market, By Service Model
1.1.4 Global Air Ambulance Services Market, By Mission Profile
1.1.5 Global Air Ambulance Services Market, By Region
2 Market Introduction
2.1 Definition
2.2 Scope of The Study
2.3 Market Structure
2.4 Key Buying Criteria
Continued. . .
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