Helicopter Market Size to Reach USD 68.36 Billion by 2026; Huge Demand for Light

Posted by Rushikesh Pise on March 27th, 2020

Fortune Business Insights, in a published report, titled, “Global Helicopter Market Size, Share & Industry Analysis, By Type (Civil & Commercial and Military), By Application (Emergency Medical Services (EMS), Corporate Services, Search and Rescue Operation, Oil and Gas, Defense, Homeland Security, Others), By System (Airframe, Engine, Avionics, Landing Gear System, and Cabin Interiors), By Weight (Light Weight, Medium Weight, and Heavy Weight), Point of Sale (OEM and Aftermarket), and Regional Forecast 2018-2026” provided this information.

As per the report, increasing usage of lightweight helicopters for commercial applications is set to boost the helicopter market growth during the forecast period. The global helicopter market size is projected to reach USD 68.36 Billion by 2026, exhibiting a CAGR of 4.47% during the forecast period. However, the market was valued at USD 48.19 Billion in 2018.

Urgent Need for Helicopters from the Healthcare Industry to Drive Growth

In emerging countries, such as China and India, there is a rise in the number of smart city projects. Therefore, governments are taking initiatives to enhance medical facilities. Several private hospitals are also following the government’s footsteps and investing huge sums in developing the healthcare infrastructure. All these factors are accelerating the demand for emergency medical services (EMS) helicopters. Prominent healthcare service providers are utilizing these helicopters as air ambulances. It is mainly because air transportation possesses many benefits, namely, safe and fast transportation to any remote location. Also, the rate of human organ transportation is rising day by day. It is likely to augment the helicopter market outlook during the forecast period.

Aftermarket Segment to Lead: Replacement of Conventional Systems with Novel Ones to Favor Growth

In terms of point of sale, the helicopter market is grouped into aftermarket and OEM. Out of these, the aftermarket segment is anticipated to grow at a rapid rate in the coming years. This growth is attributable to the increasing demand for aftermarket systems and components as conventional components are being replaced with innovative systems. Moreover, the growing integration of MRO service providers with real-time data is expected to aid in increasing the efficiency of the helicopter.