Sat, Nov 16, 2013
Compound Annual Growth Rate Of Just Over Three Percent Forecast Over Next 10 Years
A new report published by Strategic Defense Intelligence (SDI) indicates that the world helicopter market will grow at a Compound Annual Growth Rate (CAGR) of 3.08 percent over the next 10 years. The growth will be largely in the oil and gas exploration market, as well as increasing demand for light helicopter markets in Asia and Latin America.
A report appearing in HeliHub indicates that, according to the report, medium-lift helicopters are expected to lead the growth with a 1.49% CAGR through the period.
According to the report's executive summary, North America and Europe have been the most important and prominent markets for commercial helicopter manufacturers until the last few years. However, the scenario has changed significantly in the recent years due to the saturation of the aforementioned markets due to which the growth was almost stagnant. Asia Pacific and Middle East are expected to be the growth centers for commercial helicopters during the forecast period owing to the huge potential in countries such as China, India, Australia, Japan, UAE, Qatar, etc.
Additionally, the steadily growing oil and gas industry of the Middle Eastern countries is creating substantial demand for commercial helicopters to meet its increasing need for offshore transport in the coming years. EMS is also expected to be a considerable factor driving the market for civil helicopters in the Asia Pacific and Middle East during the forecast period, as countries in these regions still do not have an established EMS network compared to country in North America and Europe.
Latin America is another region that is expected to witness robust demand for commercial helicopters registering a CAGR of 14.99% during the forecast period. This rapid growth in the region can be attributed to the strong economic growth in the countries such as Brazil and Mexico.
Even though light helicopters account for the smallest spending in the global commercial helicopter market during the forecast period, the segment is expected to grow robustly. This can be attributed to the rapidly increasing business from VIP or corporate transport and EMS firms and also the parapublic departments. In the present economic scenario, light helicopters are increasingly seen as a favorable choice by various organizations owing to their low price and latest technological advancements in the avionics and navigation systems. The global fleet of light helicopters as a percentage of larger helicopters fleet is thus increasing at a fast rate.
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