Global Helicopters Market Set to Cross USD37 billion by 2019
Increasing demand for civil & defense helicopters from transitioning economies is driving global helicopters market
Global helicopters market is primarily divided into civil & defense helicopter segments. Civil helicopters are widely being used by government bodies mainly for law-enforcement activities, and emergency response services. Other than government bodies, civil helicopter market caters to commercial segments such as oil & gas companies, VIP transportation providers and corporate offices. Light 2-ton helicopters with turbine engines and 2–3-ton single-engine helicopters have remained popular among new helicopters. It is projected that the global civil helicopter market will witness an increase in demand from oil & gas sector due to expanding off–shore activities. As a result, global OEMs are continuously developing helicopters with specialized safety features specifically designed to perform such activities.
According to a recently released report by Techsci Research, “Global Helicopters Market Forecast and Opportunities, 2019”, the global market for helicopters is forecast to witness a CAGR of over 5% during 2014-19. Despite having a considerably smaller share in global helicopter market, Latin America is forecast to witness the fastest growth as compared to other regions, and therefore this region is considered the most promising market among global helicopter manufacturers. Following the same pattern, Africa is also emerging as a high potential market for helicopters.
Repeated defense budget cuts in major economies are restraining the growth opportunities for defense helicopters. However, despite this cut off in defense budget of western countries, the total market for defense helicopters is projected to grow. This is due to rising demand for defense helicopters in North America as fighting escalates between the United States and Islamic State of Iraq and the Levant (ISIL). Apart from North America, Asia-Pacific and Eastern Europe are also witnessing burgeoning demand for defense helicopters.
“Backed by rapidly growing demand for commercial and defense helicopters in countries like China, India, Japan and Indonesia, Asia-Pacific emerged as the most prominent market for helicopters in 2013. North America, the second largest market for helicopter sales is consequently witnessing slower growth in helicopter demand, owing to which, the market share of North America will decline over the forecast period. The decline in market share will be due to slow domestic growth and increase inhelicopter sales in Asia-Pacific, Latin America and Africa.” said Mr. Karan Chechi, Research Director with TechSci Research a research based global management consulting firm.
“Global Helicopters Market Forecast and Opportunities, 2019” has evaluated the future growth potential of global helicopter market and provides statistics and information on market structure, region-wise segmentation and industry behavior. The report includes helicopter market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in helicopter market, globally.