The global civil helicopter market 2020 is projected to reach USD 13.88 billion by 2024, at a CAGR of 4.04% over the review period (2019 to 2024).
While the Civil Helicopter Market is known to be a sluggish or slow-moving market and has gained a meagre share in the aerospace industry over the years, the market has seen significant growth due to its effectiveness of reaching the areas afflicted by remote, high altitude and natural disasters and the effectiveness of saving countless lives, protecting property and providing assistance
In recent years , a significant emphasis has been put on encouraging helicopters to operate in rural areas and areas where airfields are under construction or entirely non-existent, through the use of vertical take-off and landing capability. In addition , the growing demand for offshore transport and the demand for Emergency Medical Services (EMS) and law enforcement helicopters are some of the key drivers driving business growth..
the impact of COVID-19 on the civil helicopter market is changing constantly. The industry has witnessed the pandemic ‘s immediate and clear impact. Due to the increasing demand for helicopters in developing countries , including China and India, and the increasing need for Helicopter Emergency Medical Services (HEMS), the industry has seen a boom. Manufacturing activities have, however, come to a halt due to COVID-19, and airspace restrictions have increased. In addition, the market has been affected by the ongoing coronavirus pandemic.
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Many helicopters are grounded as the tourism sector is closed and oilfield facilities are shut down. In the coming months, helicopter operators are expected to face heavy losses. HEMS is provided by helicopter firms who are actually working during this crisis. Moreover, as helicopter manufacturing facilities are closed, the supply chain has also been impacted due to the pandemic. These aspects are likely to limit the development of the civil helicopter brand.
The Global Civil Helicopter Market has been segmented based on end-use, engine type, weight, ownership, and region. Based on engine type, the market has been bifurcated into single-engine and twin-engine. The weight segment of the market has been segmented into light helicopters, medium helicopters, intermediate helicopters, and large & heavy helicopters. The light helicopters segment has been divided into ultralight helicopters and others. By end-use, the market has been categorized as law enforcement, forestry & wildlife conversation, helicopter emergency medical service, onshore & offshore transportation, search & rescue, training services, and others.
The region of North America is expected to dominate the global market for civil helicopters, mainly due to the growing demand for emergency medical services and offshore transportation. In addition , the presence of established players in North America offers the region an edge over other regions as well. As a result, the growth of the civil helicopter market in this region has led to increased investments by the major players. The United States is also a hub for major manufacturers of civil helicopters, such as Textron Inc., Lockheed Martin Corporation, and Robinson Helicopter Company. However, businesses also had to face disturbances such as slow supply chain movement, unavailability of labour, and other factors causing a slowdown in output during the rising cases of COVID-19 in the country. Moreover, due to the rising demand in the country for personal protective equipment (PPE) kits, numerous manufacturers of civil helicopters are manufacturing safety devices to battle COVID-19.
The Asia Pacific region has made significant advances as well. In particular, India seems to be seriously examining the possible ways in which civil helicopters can be used effectively.
The Key Players in the Global Civil Helicopter Market are Airbus SAS (Netherlands), Lockheed Martin Corporation (US), Aviation Industry Corporation of China (China), Textron Inc. (US), Hindustan Aeronautics Limited (India), Enstrom Helicopter Corporation (US), Korea Aerospace Industries, Ltd (South Korea), Leonardo SpA (Italy), Robinson Helicopter Company (US), MD Helicopters, Inc. (US), and Russian Helicopters, JSC (Russia).