Northbrook, IL 60062 -- (SBWIRE) -- 09/15/2022 -- The helicopters market report provides an analysis of the market from 2022 to 2027. It discusses industry and technology trends prevailing in the market, along with the market drivers, restraints, challenges, and opportunities.
The helicopters market is projected to grow from USD 30.6 billion in 2022 to USD 41.2 billion by 2027, at a CAGR of 6.1% from 2022 to 2027. The helicopters market is expected to witness substantial growth during the forecast period, due to increase in rescue operations in civil applications, increasing demand for lightweight helicopters and replacement of aging military helicopters.
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Based on OEM application, the helicopters market is segmented into civil & commercial and military. The Military segment will register highest CAGR during the forecast period. Military helicopters are used for ground attack missions, air-to-air combat, and maritime/naval attack by defense forces worldwide. Apart from attacks, they are also used to undertake various operations, including surveillance, observation, search & rescue, evacuating wounded soldiers from the battlefield, firefighting, and other life-saving activities. The increased demand by military to conduct combat missions and training are driving the military helicopters segment.
Based on OEM component & system, the helicopters market is segmented into airframes and engines. The engines segment is expected to grow at the highest CAGR during the forecast period. Advancements in engine technologies such as automation, electrification, and digitization are expected to drive the overall demand in the helicopters market.
Based on OEM region, the helicopters market has been segmented into 5 regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The European helicopters market is projected to grow at the highest CAGR during the forecast period from 2022 to 2027. The helicopters market in the region is expected to witness significant growth due to rapid development of new helicopter models by regional companies.