The global commercial helicopter market is expected to reach a valuation of US$ 11.5 Bn by 2032, with the market expanding at a positive CAGR of 6.4% from 2022 to 2032.
Valued at US$ 5.9 Bn in 2021, the target market is expected to reach an estimated US$ 6.2 Bn 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 propel the growth of the commercial helicopter market during the forecast period.
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. Besides, these helicopters- particularly the light type- are witnessing heightened demand from the public safety & law enforcement segment.
Again, 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,” says an FMI analyst.
The commercial helicopter market in the United States will grow at 5.5% CAGR, reaching US$ 3.9 Bn by 2032.
In Europe, the commercial helicopter market is predicted to expand at a CAGR of 6%, arriving at a value of US$ 2.8 Bn during the assessment period.
By type, the light commercial helicopter segment is anticipated to register a CAGR of 6% during 2022-2032.
Based on application, the public safety and law enforcement segment is leading the market with a CAGR of 5.5% during the forecast period.
According to the latest FMI reports, based on segmentation, the light commercial helicopters segment will register heightened demand and grow at a CAGR of 6% during the projected period. These types of helicopters are of great need in police operations, surveillance, aerial inspections, and archaeological or geographical surveys. In terms of application, the public safety and law enforcement segment is leading the market with a registered CAGR of 5.0% in the past. This segment is predicted to register a CAGR of 5.5% during the projected period.
Based on region, the commercial helicopters market in the European region will exhibit considerable growth during 2022-2032. The target market is expected to grow at a CAGR of 6% in Europe owing to a surge in defense and emergency service spending. Increasing political tensions and the need to replace the aging fleet further aid the growth of the target market in this region. Thus, the commercial helicopter market will likely reach an estimated value of US$ 2.8 Bn in Europe by the end of 2032. In terms of country, the United States is anticipated to demonstrate remarkable market growth with a CAGR of 5.5% during 2022-2032.