The market dynamics included in the Helicopter Services Market research report study include opportunities, constraints, drivers, and difficulties. Furthermore, the research delineates novel and emerging trends and their impact on present and prospective market dynamics. The Helicopter Services Market research study gives detailed market data on market penetration that is supplied by the major industry participants. Additionally, it provides knowledge, analysis, and analysis of several aspects that are anticipated during the projected period.
Helicopter Services Market Overview
The global Helicopter Services Market size is projected to reach a CAGR of 13.9% from 2023-2030.
A helicopter is a type of rotorcraft in which lift and thrust are supplied by horizontally spinning rotors. This allows the helicopter to take off and land vertically, to hover, and to fly forward, backward, and laterally. These attributes allow helicopters to be used in congested or isolated areas where fixed-wing aircraft and many forms of STOL (Short Take-off and Landing) or STOVL (Short Take-off and Vertical Landing) aircraft cannot perform without a runway.
Increasing use of helicopters in Search and Rescue (SAR), Emergency Medical Services (EMS), and usage in law enforcement, public safety, and firefighting operations are expected to propel the growth of the helicopter services market. Factors such as the rising smart projects in the United States, India, Singapore, and China, increasing government initiatives to improve medical services and facilities, and rising investment by private hospitals in infrastructure development create a massive demand for helicopter services globally. The adventure tourism sector has been flourishing for many years now, and helicopter service providers are increasingly utilizing the capabilities offered by these aircraft to ensure a thoroughly engaging experience for tourists. The growing application of helicopters in commercial and military activities, coupled with the ability of the aircraft to operate in a harsh environment, has been augmenting the market demand. The widespread adoption of the Internet of Things (IoT), artificial intelligence, and real-time data in helicopter services to improve safety and aid pilots in making flight decisions is further fuelling the market expansion. Additionally, the development of highly autonomous and lightweight helicopters that provide dependable, quicker, and user-friendly technology positively impacts global market growth.
On the other hand, the helicopter services industry has been witnessing a greater threat of substitution in some applications since the last decade. Drones are slowly substituting helicopters in various roles due to their cheaper cost of operation and reduction of risk to humans. Drones are now performing tasks like land surveys, inspections, aerial observation, monitoring, photography, videography etc, quickly, and close to the ground, delivering high-resolution data in a short timeframe.
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Economic downturns and global pandemics can lead to reduced investments, changes in government spending levels, reduced customers' and suppliers' access to credit, hamper consumer confidence, and increased buyers' propensity for cheaper substitutes in specific applications. This was evident in the last two years when the world witnessed the impact of the COVID-19 pandemic, which has increased economic constraints, reduced travel and tourism activities, and decreased industrial output. Consequently, the demand for helicopter services from the associated sectors has also declined.
Delvens Industry Expert's Standpoint
The rising demand for helicopter services in the various rescue mission in the military operator units. They were extensively utilizing these services for surveillance and transportation. Leading companies are working towards enhancing the flight system by implementing new software to utilize real-time data management that aids in taking effective decisions among the pilots. Further, enhancement in the healthcare sector allows the hospital to improve their medical services and facilities uplifting the demand for the helicopter in a medical emergency service mission. All these advancements and necessities would improve the helicopter service market in the next coming years.
Key Findings
- The product type is further subdivided into Light Weight, Medium Weight, and Heavy Weight. The medium-weight segment is expected to reach the highest revenue share over the forecast period. They are designed to be fuel-efficient, which is a significant advantage for operators looking to reduce their operating costs and carbon footprint, and are widely used for offshore transportation activities, including transportation of personnel and equipment to offshore oil rigs and platforms. These benefits have driven the demand for this segment.
- The application segment is further segmented into Offshore Helicopter, Air Ambulance, Business/Corporate Travel, and Others. The Air Ambulance segment is expected to dominate all other segments in terms of revenue generation over the forecast period. With the rising incidence of chronic diseases, accidents, and natural disasters, the demand for emergency medical services has increased significantly led to driving demand for this segment.
- A helicopter is a type of rotorcraft in which lift and thrust are supplied by horizontally spinning rotors. This allows the helicopter to take off and land vertically, to hover, and to fly forward, backward, and laterally. These attributes allow helicopters to be used in congested or isolated areas where fixed-wing aircraft and many forms of STOL (Short Take-off and Landing) or STOVL (Short Take-off and Vertical Landing) aircraft cannot perform without a runway.
- Economic downturns and global pandemics can lead to reduced investments, changes in government spending levels, reduced customers' and suppliers' access to credit, hamper consumer confidence, and increased buyers' propensity for cheaper substitutes in specific applications. This was evident in the last two years when the world witnessed the impact of the COVID-19 pandemic, which has increased economic constraints, reduced travel and tourism activities, and decreased industrial output. Consequently, the demand for helicopter services from the associated sectors has also declined.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is expected to lead the global market, as helicopter services are widely used in the region for various purposes. The United States and Canada have robust aviation infrastructure and ample space to develop landing/take-off pads and spot networks, further strengthening the region’s helicopter services market share
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Helicopter Services Market Regional Analysis
North America to Dominate the Market
- North America is expected to lead the global market, as helicopter services are widely used in the region for various purposes. The United States and Canada have robust aviation infrastructure and ample space to develop landing/take-off pads and spot networks, further strengthening the region’s helicopter services market share.
- Increasing air sports activities, such as aerobatics, parachuting, and paragliding, have generated lucrative growth opportunities.
Helicopter Services Market Competitive Landscape
- Air Methods Corporation
- Alpine Helicopters Inc.
- Bristow Helicopters Limited
- Carson Helicopters Inc.
- Erickson Incorporated
- Gulf Helicopters
- Heli Air Limited
Helicopter Services Market Recent Developments
- 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.
Reasons to Acquire in the Helicopter Services Market
- Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
- Gain authentic and granular data access for Helicopter Services Market so as to understand the trends and the factors involved in changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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