Pune, India, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Helicopters Market Size Report, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 - COVID-19 Impact and by Type, Weight, Application, and Geography”, the helicopters market expected to grow from US$ 37.35 billion in 2021 to US$ 56.59 billion by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The increase in demand for aerial imagining, and surge in adoption of advanced helicopters and other rotorcrafts. However, the high operational cost of helicopters is expected hinder the growth of the market.
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Growing Utilization of Composite Materials in Helicopter Production Provides Lucrative Opportunities for Helicopters Market:
Composite materials are now used more often in the production of helicopters. In comparison to traditional materials like aluminium and steel, composites provide a number of advantages, such as better strength-to-weight ratios, enhanced corrosion resistance, and more design flexibility. These benefits make them ideal for use in the manufacture of helicopters, where performance and weight are critical.Additionally, the usage of composites may lower production costs, require less maintenance, and extend the useful life of helicopters. The growing utilization of composite materials in helicopter production presents significant opportunities for the market. One key advantage is weight reduction. Composite materials, particularly carbon fiber-reinforced polymers (CFRP), are much lighter than traditional metal structures. By incorporating composites into helicopter designs, manufacturers can significantly reduce the overall weight of the aircraft. This weight reduction brings several benefits, including improved fuel efficiency, increased payload capacity, and extended range. Moreover, composite materials offer excellent strength-to-weight ratios, allowing for stronger and more durable helicopter structures. This enhances the overall performance and safety of the aircraft, as well as provides resistance against fatigue and corrosion. Furthermore, composites offer design flexibility and the ability to create complex shapes and aerodynamic profiles. This allows manufacturers to optimize the helicopter's aerodynamics, resulting in improved maneuverability, reduced drag, and increased speed. The use of composites also offers the opportunity for reduced maintenance requirements. Composite materials are generally more resistant to environmental factors such as corrosion, which can lead to lower maintenance costs and downtime for helicopter operators.
The United States has dominated the helicopter market and experienced significant growth due to various factors contributing to its strong position. Firstly, the United States has a robust defense sector, with a large defense budget that allocates substantial resources to military helicopter procurement and modernization. The country's military relies heavily on helicopters for various operations, including troop transport, reconnaissance, and combat support. This sustained investment in defense has driven the demand for helicopters, leading to a strong domestic market and the presence of leading helicopter manufacturers. Secondly, the United States has a highly developed infrastructure and diverse industries that utilize helicopters. The country's vast territory, diverse geography, and urban areas create a significant need for efficient transportation options, which helicopters fulfill. Helicopters are widely used in transportation, tourism, news and media, offshore operations, and emergency medical services. The United States advanced infrastructure supports the safe and efficient operation of helicopters, further contributing to their growth and dominance in the market. The United States has also been at the forefront of helicopter technology and innovation. The country is home to leading aerospace companies, research institutions, and universities that drive helicopter design, performance, and safety advancements. These technological advancements have helped the United States maintain a competitive edge in the global helicopter market. Furthermore, the United States has a favorable regulatory environment for helicopter operations. The Federal Aviation Administration (FAA) ensures stringent safety regulations and standards, which instill confidence in operators and customers. The FAA's oversight and certification processes promote the safe and reliable use of helicopters, supporting the industry's growth. Lastly, the United States has a strong export market for helicopters, with American-made helicopters being sought after by international customers. The reputation for quality, reliability, and advanced technology of helicopters manufactured in the United States has contributed to the country's dominance in the global market.
Global Helicopters Market: Segmental Overview
Based on type, the market is segmented into single rotor, multi rotor, and tilt rotor. The single rotor segment held the largest share of the market in 2020, whereas the tilt rotor segment is anticipated to register the highest CAGR in the market during the forecast period. In terms of weight, the market is segmented into light weight, medium weight, and heavy weight. The medium weight segment held the largest share of the helicopters market in 2020, whereas the light weight segment is anticipated to register the highest CAGR in the market during the forecast period. Based on application, the market is segmented into commercial and civil and military. The commercial and civil segment held the largest share of the market in 2020, whereas the commercial segment is estimated to register the highest CAGR in the market during the forecast period.
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Global Helicopters Market Analysis: Competitive Landscape and Key Developments
Airbus S.A.S., Leonardo S.p.A., Bell Textron Inc., Russian Helicopters, Lockheed Martin Corporation, Boeing, Enstrom Helicopter Corp., Kaman Corporation, MD Helicopters, Inc., and Robinson Helicopter Company are a few of the key companies operating in the helicopters market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
In 2023, Leonardo S.p.A. also announced the delivery of the one thousandth AW139 helicopter to the Guardia di Finanza of Italy. The AW139 is trusted for a variety of missions, including air ambulance and search-and-rescue operations, due to its dependability and adaptability.
In 2023, Russian Helicopters has unveiled the Mi-171A3 offshore helicopter in Russia, which is designed specifically for oil and gas operations in the harsh Arctic environment. This helicopter, with its advanced aerodynamic characteristics and cutting-edge avionics, is anticipated to establish new benchmarks for offshore operations in severe conditions.
In January 2022, Bristow Group announced that it was awarded a major 10-year government search and rescue helicopter service contract, by the Netherlands Coastguard, with a dedicated fleet of AW189 helicopters stationed at the Den Helder and Midden Zeeland Airports in the country
In Sept 2021, CHC Helicopter announced that it had completed the acquisition of Babcock International's Offshore Operations, including oil and gas aviation. The acquisition reinforces CC's global position and increases its offshore crew transportation capacity, and expands its fleet by around 30 aircraft across the UK, Denmark, and Australia.
In May 2021, Directional Aviation's OneSky Flight, parent of global private jet travel provider Flexjet, jet card provider Sentient Jet and on-demand charter providers PrivateFly and FXAIR, announced that it had acquired the UK-based helicopter provider Halo Aviation.
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