Sun, Jun 28, 2015
Study Finds Increased Demand For Civil And Military Rotorcraft
Increasing demand for civil & defense helicopters from transitioning economies is driving global helicopters market, according to a new report.
The global helicopters market is primarily divided into civil & defense helicopter segments. Civil helicopters are widely being used by government bodies mainly for law-enforcement activities, and emergency response services. Other than government bodies, civil helicopter market caters to commercial segments such as oil & gas companies, VIP transportation providers and corporate offices. Light 2-ton helicopters with turbine engines and 2–3-ton single-engine helicopters have remained popular among new helicopters. It is projected that the global civil helicopter market will witness an increase in demand from oil & gas sector due to expanding off–shore activities. As a result, global OEMs are continuously developing helicopters with specialized safety features specifically designed to perform such activities.
According to a recently released report by Techsci Research, “Global Helicopters Market Forecast & Opportunities, 2019”, the global market for helicopters is forecast to witness a CAGR (Compound Annual Growth Rate) of over 5% during 2014-19. Despite having a considerably smaller share in global helicopter market, Latin America is forecast to witness the fastest growth as compared to other regions, and therefore this region is considered the most promising market among global helicopter manufacturers. Following the same pattern, Africa is also emerging as a high potential market for helicopters.
Repeated defense budget cuts in major economies are restraining the growth opportunities for defense helicopters. However, despite this cut off in defense budget of western countries, the total market for defense helicopters is projected to grow. This is due to rising demand for defense helicopters in North America as fighting escalates between the United States and Islamic State of Iraq and the Levant (ISIL). Apart from North America, Asia-Pacific and Eastern Europe are also witnessing burgeoning demand for defense helicopters.
“Backed by rapidly growing demand for commercial and defense helicopters in countries like China, India, Japan and Indonesia, Asia-Pacific emerged as the most prominent market for helicopters in 2013. North America, the second largest market for helicopter sales is consequently witnessing slower growth in helicopter demand, owing to which, the market share of North America will decline over the forecast period. The decline in market share will be due to slow domestic growth and increase in helicopter sales in Asia-Pacific, Latin America and Africa.” said Karan Chechi, Research Director with TechSci Research a research based global management consulting firm.
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