The global commercial helicopter market is expected to reach a valuation of US$ 11.5 Billion by 2032, with the market expanding at a positive CAGR of 6.4% from 2022 to 2032. Valued at US$ 5.9 Billion in 2021, the target market is expected to reach an estimated US$ 6.2 Billion in 2022.
The elevated need for commercial helicopters in emergency services, VIP transport, military and defense activities, and oil and gas rigs as well as the replacement of older fleets propel the growth of the commercial helicopter market during the forecast period.
Helicopters ensure greater connectivity and liveability of cities which propels the market prospects for the same. The use of small aircraft in urban spaces at low altitudes bolsters connectivity and liveability of these urban cities by lessening congestion on important routes in cities. This augments the global sales of commercial helicopters.
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Besides, these helicopters- particularly the light type- are witnessing heightened demand from the public safety & law enforcement segment. Again, the use of electric power by these helicopters is improving safety, reducing the cost of operation, and lessening the noise component.
In addition, hybridized helicopters, which utilize the benefits of electric power along with capitalizing on the advantages of traditional aircraft exhibit strong market potential which, in turn, boosts the market prospects of commercial helicopters. These hybrid helicopters are good for the environment as they improve fuel economy and assist with emission reduction. All of these factors foster an atmosphere of growth for the commercial helicopter market during the forecast period.
“Rising need for replacement of older fleets along with a demand for advanced models of the target product will drive the global growth of the commercial helicopter market over the forecast period,” says an FMI analyst.
Key Takeaways:
The commercial helicopter market in the United States will grow at 5.5% CAGR, reaching US$ 3.9 Bn by 2032.
In Europe, the commercial helicopter market is predicted to expand at a CAGR of 6%, arriving at a value of US$ 2.8 Bn during the assessment period.
By type, the light commercial helicopter segment is anticipated to register a CAGR of 6% during 2022-2032.
Based on application, the public safety and law enforcement segment is leading the market with a CAGR of 5.5% during the forecast period.
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Competitive Landscape
Top Global commercial helicopter companies are: Airbus S.A.S., Bell Helicopter Textron Inc., Enstrom Helicopter Corp., Hindustan Aeronautics Limited, Korea Aerospace Industries, Lockheed Martin Sikorsky Aircraft, and Robinson Helicopter Company among others are some of the major players in the commercial helicopter market profiled in the full version of the report.
Key market players are concentrating on improving their current models, enhancing safety, and capitalizing on new technologies to cater to consumer demands. These firms are increasing investment in R&D activities for the automation of certain parts of the flying process to lessen the burden on the pilot. Joint ventures, agreements, and collaborations are certain other tactics adopted by some of these market participants.