The global commercial helicopter market size is estimated to touch USD 6.92 billion by 2025, according to a new report by Million Insights. It is predicted that the market would grow at a CAGR of 3.8% over the forecast period. Growing oil & gas industry and increasing use of air ambulance are driving the market demand.
Tourism industries are widely deploying light commercial helicopter to attract a larger consumer base. Rapid growth in the tourism industry is projected to drive commercial helicopter demand. In addition, such rotorcrafts are used by law enforcement agencies and by firefighting agencies. Advanced and luxurious helicopters are highly demanded in the transportation sectors. The growing need for replacement of old rotorcraft with new once is estimated to propel the market growth over the forecast duration.
Increasing demand for cost-effective and fuel-efficient aircraft and changes in operational necessities are among key factors projected to drive the commercial helicopters market growth. Fleet operators take multiple factors into the account such as cabin size, brand experience, range and performance before purchasing rotorcrafts for commercial operation.
North America market is likely to progress significantly owing to rising oil & gas industry in the region. On the other hand, Asia Pacific market accounted for over a billion USD in 2018. Further, the region is anticipated to grow at a CAGR of almost 6% over the next six years. Emerging countries such as China and India are predicted to be the largest growing markets due to relaxation in airspace norms.
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Further key findings from the report suggest:
• Rise in demand for the commercial helicopter in public safety operations, by law enforcement agencies and firefighting brigade,is driving the market growth.
• In 2018, light segment helicopter accounted for over 30% of the market share.
• Law enforcement & public safety dominated the market and accounted for USD 1.73 billion of market share in 2018.
• Europe was the leading market shareholders in 2018, and the region is projected to continue its domination over the next few years.
Million Insights has segmented the global commercial helicopter market report on the basis of type, application, and region:
Commercial Helicopter Type Outlook (Revenue, USD Million, 2015 - 2025)
Commercial Helicopter Application Outlook (Revenue, USD Million, 2015 - 2025)
• Oil & Gas
• Medical Services
• Law Enforcement & Public Safety
Commercial Helicopter Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa