Helicopters Market Size, Share Report, Analysis, Trends, Growth 2032

Helicopters Industry Prospective:

The global helicopters market size was worth around USD 56.78 billion in 2023 and is predicted to grow to around USD 86.96 billion by 2032 with a compound annual growth rate (CAGR) of roughly 4.85% between 2024 and 2032.

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Helicopters Market: Overview

A helicopter is defined as an aircraft that is powered by one or more horizontal rotors or propellers for vertical take-off and landing. Furthermore, these rotors also help with moving the helicopter in any direction or remaining stationary in the air. These air carriers are significantly different from airplanes; helicopters are equipped with moving rotors or blades placed at the top of the machine. The moving blades create a force which is known as lift thus propelling helicopters into the air. Helicopter blades can be compared to wings in an airplane. Additionally, helicopters are also equipped with rotors at the back. Some of the performance differences between a traditional airplane and a helicopter include the ability of the latter to move in any direction including upwards and downwards. Moreover, they can also be flown in a sideways direction or in a reverse angle. Helicopters do not require a run to take off which is an essential part of flying an airplane. In recent times, helicopters have become widely popular across industries. During the early stages, helicopters were mainly used for military purposes. However, the ongoing research & development of new helicopters has given the industry a more commercial outlook thus impacting the sale of helicopters across the globe. As opposed to airplanes, helicopters are typically more unsafe and vulnerable to accidents which limits their market adoption. During the forecast period, the military applications of helicopters are expected to garner the largest revenue share.

Key Insights:

• As per the analysis shared by our research analyst, the global helicopters market is estimated to grow annually at a CAGR of around 4.85% over the forecast period (2024-2032)
• In terms of revenue, the global helicopters market size was valued at around USD 56.78 billion in 2023 and is projected to reach USD 86.96 billion, by 2032.
• The market is projected to grow at a significant rate due to the growing use of helicopters in military combat
• Based on the application, the military segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on the point of sale, the OEM segment is anticipated to command the largest market share
• Based on region, North America is projected to dominate the global market during the forecast period

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Helicopters Market: Growth Drivers

Growing use of helicopters in military combat will drive the market growth rate

The global helicopters market is expected to gain massive growth momentum due to the growing demand for high-performance helicopters in the military sector. All regions, at present times, are working on strengthening national security forces, especially since the start of the Russia-Ukraine war. Most countries across the globe are witnessing some form of internal or cross-border turmoil in the form of an increasing number of terror groups or domestic instigators that cause disharmony. Such events impact multiple facets of an economy. For instance, constant political or social tension in a country not only puts the life of a normal citizen at risk but also has a long-term impact on the overall economic growth of the nation. Apart from this, national security is one of the most prominent areas of concern for respective regional leaders. The growing investments in developing more efficient, state-of-the-art defense equipment will create more demand for helicopters that can be used in military combat situations. In March 2024, the Indian army raised its first squadron of Apache attack helicopters. These machines will be used for ground operations in the western region of the country. The helicopters are made by American aerospace giant Boeing. In February 2024, the UK Ministry of Defense (MoD) commenced the bidding phase of the New Medium Helicopter (NMH) contest. The agency expects to sign a production deal by 2025

Growing use of helicopters in search & rescue events will further impact the market growth rate

Modern helicopters have become widely popular in search & rescue operations. These gigantic mechanical devices are highly versatile in terms of performance and considered ideal for use in rescue operations as they can be easily maneuvered to fly into confined spaces or difficult terrains. Moreover, rescue helicopters are equipped to handle heavy loads. They can carry several passengers, heavy machinery, and medical supplies for immediate action. In May 2023, Queensland Government Air (QGAir), Australia became the first emergency medical services helicopter operator in the country to deliver more than 30,000 operational flight hours. Australia is often subject to several natural calamities and these helicopters have proven widely beneficial in such events thus helping the global helicopters market grow.

Helicopters Market: Restraints

High cost of development to restrict the market expansion rate

Helicopters are extremely sophisticated devices. They are equipped with modern technologies and novel engineering systems. Moreover, the helicopter's body is made of premium-grade materials including composite materials and titanium. These materials are expensive. In addition to this, the moving parts of helicopters must be regularly inspected and replaced in case of default. The replacement cost of moving parts is an important aspect of the overall operational cost of helicopters. Military-grade helicopters can cost millions of dollars since they utilize high-end technologies such as communication tools and navigation systems. The high cost of producing, maintaining, and operating helicopters is the most important growth barrier for the industry.

Helicopters Market: Opportunities

Demand for agricultural helicopters has higher growth potential during the projection period

The global helicopters market is expected to generate high growth opportunities as there is rising demand for agricultural helicopters. They are used for aerial agriculture-related activities including crop dusting or fertilizer spraying. Furthermore, they are also used for monitoring crop yield spread across extended lands. The growing efforts toward reducing agricultural helicopter prices or delivering service-based models may further improve the sector's growth rate. For instance, in 2023, the Canadian aerial spraying industry witnessed a massive spike in the demand for helicopter applications, as per official reports. These sprayers are primarily used in the region for crops such as wheat and tomatoes. In December 2023, Rotor Technologies began the production of R550X uncrewed civilian helicopters. The company is expected to target industries such as firefighting, agriculture, and cargo transport.

Increasing focus on integrating novel technologies and helicopters will fuel the momentum rate in the industry

The growing application of helicopters across industries has created a demand for novel solutions and technologies that can be integrated with helicopters and help them deliver superior performance. Helicopter makers are actively investing in deploying advanced technologies such as artificial intelligence (AI) to improve the helicopter flight experience. Additionally, more efforts are being made toward enhancing the safety features of helicopters which could lead to higher adoption. For instance, in July 2022 Elbit Systems announced the launch of a new vision suite for military helicopters made using AI-powered mission computers, a sensor array, and a unique Helmet Mounted Display (HMD) system allowing the pilot to see through the aircraft’s body. These events will shape the global helicopter market during the projection period.

Helicopters Market: Challenges

Reducing the risk of accidents associated with helicopters is a crucial challenge for the market players

The global helicopters industry players face challenges in improving the safety features of these machines. Helicopters are at a higher risk of being subject to accidents mainly because of their overall structure. Helicopters consist of several moving parts and hence there is a high probability of one of the parts failing at some point during flight especially if these parts are not monitored and replaced frequently. Additionally, helicopters are used in complex environment settings thus exposing them to damage or accidents.

Helicopters Market: Segmentation

The global helicopters market is segmented based on application, component & system, point of sale, type, and region.

Based on the application, the global market segments are military, emergency rescue & medical support, civil utility helicopters, transport helicopters, marine helicopters, and others. In 2023, the highest demand was observed in the military segment due to the extensive use of high-end helicopters in defense-based operations. Military helicopters are designed to perform several tasks including carrying personnel and supplies. Moreover, they are used for patrolling across expansive areas. In 2023, the US spent nearly USD 920 million on military expenses. The growing investments in upgrading defense systems will fuel the segmental growth rate.

Based on components & systems, the global helicopters industry is divided into main rotor systems, airframes, transmission systems, aerostructures, undercarriages, cabin interiors, special-purpose systems, and others.

Based on the point of sale, the global market is segmented into aftermarket and OEM. In 2023, the highest growth was registered in the original equipment manufacturer (OEM) segment. Helicopters are sophisticated machines. The production expense of helicopters can cross billions of dollars, especially the ones used for heavy-duty applications. Entry-level helicopters can cost between USD 200,000 to USD 500,000 as per market reports.

Based on type, the global market segments are military and commercial.

Helicopters Market: Report Scope

Helicopters Market: Regional Analysis

North America to beat the rest of the regions in terms of revenue

The global helicopters market will be led by North America during the projection period. The US will dominate the regional market growth rate. Several of the globally dominating helicopter manufacturers are located in the US. In March 2024, Bell Helicopter, a leading US-based producer of helicopters, announced the beginning of the next chapter of the company’s widely famous H-1 helicopters. Under a contract with the U.S. Marine Corps, Bell Textron Inc., a Textron Inc. company, Bell AH-1Z will receive the Structural Improvement Electrical Power Upgrade (SIEPU) modification. In addition to this, the US has an extensive presence of world-class helicopters across its defense units including naval, air, and ground forces. The country is home to some of the most prominent figures in the helicopter manufacturing sector. These companies supply helicopters to international territories for commercial and military applications. Lockheed Martin-owned MH-60R Seahawk helicopter is one such highly popular machine across countries including the US. It is equipped with advanced sensors and weapons. Europe is expected to continue growing at a significant pace. The increasing launch of new commercial and non-commercial helicopters along with rising demand for the aircrafts in the agricultural sector will fuel the market expansion rate.

Helicopters Market: Competitive Analysis

The global helicopters market is led by players like:

• AgustaWestland
• Russian Helicopters
• Kaman Aerospace Corporation
• Leonardo Helicopters
• Kawasaki Heavy Industries
• Kamov
• Enstrom Helicopter Corporation
• Boeing Vertical Lift
• Airbus Helicopters
• Robinson Helicopter Company
• Sikorsky Aircraft Corporation
• Eurocopter
• MD Helicopters
• NHIndustries
• Bell Helicopter.

The global helicopters market is segmented as follows:

By Application

• Military
• Emergency Rescue & Medical Support
• Civil Utility Helicopters
• Transport Helicopters
• Maritime Helicopters

By Component & System

• Main Rotor Systems
• Airframe
• Transmission Systems
• Aerostructures
• Undercarriages
• Cabin Interiors
• Special-Purpose Systems

By Point of Sale

• Aftermarket
• OEM

By Type

• Military
• Commercial

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa