DUBLIN--(BUSINESS WIRE)--The "Helicopters Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type, Weight, and Application" report has been added to ResearchAndMarkets.com's offering.
The global helicopters market is forecast to grow from US$ 37,355.5 million in 2021 to US$ 56,597.5 million by 2028 and is estimated to grow at a CAGR of 6.1% from 2021 to 2028.
The growth of the helicopters market is attributed to the rise in military expenditure on advanced and lightweight helicopters. The swift change in modern-day warfare has been urging the governments to allocate higher amounts toward their 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.
Government of these countries are looking to acquire new and advanced helicopters as a part of their upgrade and renewal process. For instance, in 2019, the UK National Police Air Service (NPAS) started procuring a batch of new helicopters. Similarly, in 2020, the Indian and US governments entered into a helicopter deal worth US$ 3 billion. The two agreements cover a purchase of six AH-64E Apaches for the Indian Army and 24 Lockheed Martin-Sikorsky MH-60R Romeo multimission naval helicopters for the Indian Navy. In 2020, Brazil, another important defense country, purchased three Airbus Helicopters H135s for the Brazilian Navy, which will be used for operations in the Antarctic region.
COVID-19 has impacted the production of helicopters across the globe. Starting from March 2020, manufacturers of helicopters faced immense challenges in successfully completing their manufacturing process due to complete lockdown. In fact, the global helicopter industry has seen a downturn in new aircraft/ helicopter sales, according to an analysis by Airbus Helicopter.
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.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Helicopters Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Helicopters Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increased Demand for Search and Rescue (SAR) Helicopters
5.1.2 Rise in Military Expenditure on Advanced and Lightweight Helicopters
5.2 Market Restraints
5.2.1 Limited Adoption of Advanced Helicopters in Developing Countries
5.3 Market Opportunities
5.3.1 Aging Helicopter Fleet
5.4 Future Trends
5.4.1 Development of Unmanned Helicopters and Use of Advanced Materials and Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Helicopters Market - Global Analysis
6.1 Helicopters Market Global Overview
6.2 Helicopters Market - Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning- Top Five Players
7. Helicopters Market Analysis - By Type
8. Helicopters Market Analysis - By Weight
9. Helicopters Market Analysis - By Application
10. Helicopters Market - Geographic Analysis
11. Helicopters Market- COVID-19 Impact Analysis
12. Helicopters Market-Industry Landscape
13. Company Profiles
- 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.
- Robinson Helicopter Company
For more information about this report visit https://www.researchandmarkets.com/r/ig0pd9
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