According to the study, the global helicopter market is likely to grow at a CAGR of 3.4% during 2017 – 2023. Technological advancements, ageing helicopter fleet, and increasing usage of helicopters in disaster relief are driving the global helicopter market. The market is further expected to gain revenue due to the increasing customer compliance for more equipped and sophisticated avionics and flight safety. Although, there has been a drop in the number of new fleet during 2013 – 2016, increased demand from developing nations would create ample opportunities for the global helicopter manufacturers.
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As per the findings of research, military helicopter held the larger share in the global helicopter market in 2016, primarily due to high value to volume ratio and increased demand from emerging economies in Asia-Pacific and increased need for advanced defense equipment. Civil helicopters market is expected to witness higher growth during 2017 – 2023. The highest growth of civil helicopter is attributed to the increasing demand in law enforcement, tourism, medical services, general utility and firefighting. However, the ongoing crisis in the oil and gas industry may lead to slower adoption of new fleet, especially large and heavy helicopters.
Geographically, North America has been the largest market for helicopter, with the U.S. being the larger contributor to the regional market, compared to Canada. Retirement of old generation helicopters is expected to create opportunities for the North American helicopter market. Majority of operators in North America are planning to increase the use of helicopters, especially civil helicopters; leading to a steady growth of the market in the region. The emerging economies of Latin America and Asia-Pacific, especially Brazil, China and India, are expected to witness high demand for civil helicopters for various applications such as law enforcement, tourism, medical services, general utility and firefighting. Latin American civil helicopter market is expected to witness the highest growth during 2017 – 2023.
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Military helicopter, which includes heavy, medium and light helicopters, held larger share in the global helicopter market in 2016. Heavy military helicopter refers to the helicopter with maximum takeoff weight (MTOW) greater than 8,500kg; medium military helicopter with MTOW between 4,500kg and 8,500kg; light military helicopter with MTOW less than 4,500kg. Civil helicopter, which includes light, intermediate, medium, and large and heavy helicopters, is expected to witness higher growth during 2017 – 2023.
The global helicopter market is expected to witness a CAGR of 3.4% during 2017 – 2023. Ageing helicopter fleet, increasing usage of helicopters in disaster relief, and technological advancements are the major factors driving the growth of the global helicopter market. The market faces challenges such as economic uncertainty, and ongoing crisis in the oil and gas industry.
Some of the other key players in the market include Korea Aerospace Industries, Ltd., Robinson Helicopter Company, Hindustan Aeronautics Limited, MD Helicopters, Inc., and Kaman Corporation.
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