According to The Insight Partners, Latest research report on “Helicopters Market Size, Revenue, Global Analysis and Forecast to 2028,” the market is expected to reach US$ 56,597.5 million by 2028, registering a CAGR of 6.1% from 2021 to 2028.
The swift change in modern-day warfare has been urging the governments to allocate higher amounts toward respective military forces. The budget allocated to military helps the military forces to engage themselves in the development of robust indigenous technologies and procurement of advanced weapons, armaments, vehicles, and other equipment from international manufacturers. There is a rise in modernization of soldiers and military vehicles among most of the military forces in order to keep the personnel and vehicles mission ready. With an objective to modernize soldiers and vehicles, the defense ministries across the globe are investing substantial amounts in newer technologies, including advanced helicopters. This factor is boosting the growth of the global helicopter market. According to the Stockholm International Peace Research Institute (SIPRI), the global military expenditure rose to US$ 1,917 billion in 2019, which represents 3.6% increase from 2018. The key countries in 2019, which accounted for 62% of expenditure, include the US, China, India, Russia, and Saudi Arabia.
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Key players operating in the global helicopters market and profiled in the market study include Airbus S.A.S., Leonardo S.p.A., Bell Textron Inc., Russian Helicopters, Lockheed Martin Corporation, Boeing, Enstrom Helicopter Corp., Kaman Corporation, MD Helicopters, Inc., and Robinson Helicopter Company.
The helicopters market is segmented based on type, weight, application, and geography. Based on type, the market is segmented into single rotor, multi rotor, and tilt rotor. In 2021, the single rotor segment accounted for the largest market share. In terms of weight, the market is segmented into light weight, medium weight, and heavy weight. In 2021, the medium weight segment accounted for the largest share in the market. Based on application, the market is segmented into commercial and civil and military. In 2021, the military segment accounted for a larger market share. Geographically, the global helicopters market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for the significant share in the global market.
A single rotor helicopter is the most common type of helicopter. These helicopters need an anti-torque device to counteract the twisting momentum produced by the main rotor, which is powered by one or more engines (tail rotor or other anti-torque system). A portion of the power generated by the powerplant(s) is used to counteract torque in a single rotor helicopter. The most popular anti-torque device is a tail rotor, which is designed to compensate for the torque produced by the main rotor. In single rotor helicopters, lift-off is achieved by spinning the main rotor. This rotation causes torque to be generated around the main helicopter, causing the main fuselage to rotate in the opposite direction. The torque (rotational force) exerted on the helicopter fuselage in the direction opposite the rotor blades is one of the issues with any single set of rotor blades. The fuselage rotates in the opposite direction of the rotor blades due to this torque. The antitorque rotor, also known as the tail rotor, counteracts the main rotor torque and controls the fuselage rotation in single-rotor helicopters.
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There are several advanced helicopters available in the market today. However, some of these helicopters are more advanced than others; therefore, they are extremely expensive. Such helicopters are equipped with advanced sensors and equipment that help defense personnel in a great way and can also be used for commercial purpose. However, the adoption of such helicopters in developing countries is extremely limited, which is acting as a restraint to the global helicopter market. These helicopters include Bell AH-1Z viper (twin engine attack helicopter), AH-64 Apache (twin turbo shaft attack helicopter), Mi 35M (multi-role combat helicopter), and Eurocopter tiger (now airbus helicopter with four bladed twin engine attack helicopter). The US, Japan, Russia, Australia, and a few developing countries like India, own these helicopters. However, due to the cost associated with these advanced helicopters and the limited defense budget, several developing nations restrict themselves from buying such helicopters. Further, commercial helicopters such as Sikorsky S-76C++, Sikorsky S-92 Executive, Bell 525, and Eurocopter EC135, are expensive as well. These are owned largely by corporates and governments in developed countries, which is limiting their sales area.
Key Findings of Study:
The global helicopters market is segmented into five major regions—North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and South America (SAM). Significant strategic initiatives are being taken by several market players in the helicopters market. For instance, in April 2021, Sikorsky-Boeing team revealed an advanced assault helicopter designed to revolutionize US Army capabilities.
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