Global commercial helicopter market to reach a worth of US$11.5 billion by the end of 2032
The valuation is based on a projected CAGR of 6.4 per cent over the next ten years
Future Market Insights, Inc. has reported that 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 compound annual growth rate (CAGR) of 6.4 per cent from 2022 to 2032.
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 defense activities, and oil and gas rigs as well as the replacement of older fleets has propelled the growth of the commercial helicopter market during the forecast period.
The report says that 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. Helicopters, particularly the light type, the report says, are witnessing heightened demand from the public safety and law enforcement segment. The use of electric power by these helicopters is improving safety, reducing the cost of operation, and lessening the noise component.
In addition, hybridized helicopters, which utilize the benefits of electric power along with capitalizing 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,” an FMI analyst said.
MD Helicopters planned increased production of its aircraft in March.