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 percent from 2022 to 2032, according to a report by Future Market Insights, Inc.
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 defence 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 that 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. Besides, these helicopters- particularly the light type- are witnessing heightened demand from the public safety and 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, hybridised helicopters, which utilise the benefits of electric power along with capitalising 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 percent CAGR, reaching US$3.9 billion by 2032.
- In Europe, the commercial helicopter market is predicted to expand at a CAGR of 6 percent, arriving at a value of US$2.8 billion during the assessment period.
- By type, the light commercial helicopter segment is anticipated to register a CAGR of 6 percent during 2022-2032.
- Based on application, the public safety and law enforcement segment is leading the market with a CAGR of 5.5 percent during the forecast period.
According to the latest FMI reports, based on segmentation, the light commercial helicopters segment will register heightened demand and grow at a CAGR of 6 percent during the projected period. These types of helicopters are of great need in police operations, surveillance, aerial inspections, and archaeological or geographical surveys. In terms of application, the public safety and law enforcement segment is leading the market with a registered CAGR of 5 percent in the past. This segment is predicted to register a CAGR of 5.5 percent during the projected period.
Based on region, the commercial helicopters market in the European region will exhibit considerable growth during 2022-2032. The target market is expected to grow at a CAGR of 6 percent in Europe owing to a surge in defence and emergency service spending. Increasing political tensions and the need to replace the aging fleet further aid the growth of the target market in this region. Thus, the commercial helicopter market will likely reach an estimated value of US$2.8 billion in Europe by the end of 2032. In terms of country, the United States is anticipated to demonstrate remarkable market growth with a CAGR of 5.5 percent during 2022-2032.
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