North America helicopter market to experience huge growth
The North America helicopter market size is poised to expand at substantial CAGR during the forecast period. With geopolitical issues between nations across the world rising, the defence sector is being prompted to acquire new helicopters and improve its existing fleet.
Industry participants are responding to rising market demand by offering technologically improved components that enhance helicopter operational efficiency. North America helicopter market holds potential for healthy growth in the next six years.
In September 2020, for example, Boeing, Honeywell, and Rolls-Royce Deutschland announced a collaboration to service H-47 Chinook engines for the DEFIANT X helicopter. This enabled the firms to use their mutual technological skills to build new systems and solutions.
Lockheed Martin Corporation, Babcock International Group PLC, Bell Textron, Inc., Universal Helicopters, Robinson Helicopter Company, The Boeing Company, MD Helicopters, Inc., and Raytheon Technologies are among the top helicopter manufacturing companies in North America.
Helicopters have demonstrated to be an effective tool in the Coronavirus pandemic, since they are the most adaptable aircrafts for transporting Covid-19 patients and medical personnel safely. Manufacturers are keeping touch with defence agencies for collaborated efforts to serve the market. For example, in December 2020, MD Helicopters, Inc. signed a USD 34m deal with the U.S. Army to provide logistical support for the Afghan Air Force. According to industry forecast, North America helicopter market size is expected to be worth $10bn by 2027.
Aerostructure consists of separate components that are required for the construction of any aircraft, whether fixed-wing or rotorcraft, commercial, civilian, or military in nature. Depending on the use, the helicopter requires a variety of aerostructures/airframes. The demand for new designs, varied airframes for diversified applications is expected to rise significantly over 2027 in North America. The Leonardo AW109 helicopter, for example, may be utilized for private and executive transport, rescue and medical services, utilities, and security services.
Commercial applications of helicopters include transportation, EMS, and offshore activities. With ease of government regulations on commercial helicopter flights, rising per capita income, and an increase in the number of High-Net-Worth Individuals (HNWI) throughout the world, the commercial sector is thriving.
According to the World Health Organisation (WHO), 15% of the world’s population resides in rural areas. In the current circumstances, helicopters have played a vital role in making basic necessities and healthcare accessible to them. The capacity and speed of helicopters to reach remote areas makes them an ideal option for completing the final leg of the logistical difficulty involved in distributing COVID-19 vaccinations to inaccessible areas.
According to Airbus, more than 30 nations are now engaging in mass vaccination efforts to protect people from the coronavirus, with Airbus-built rotorcraft providing critical airlift services in sites all over the world. Military forces, government agencies, and civil operators use a variety of Airbus helicopter models, ranging from the single-engine H125 light utility version to the twin-engine heavy-lift H225M. In regions with extreme climatic conditions, such as Canada, compact and fast products cater the emergency needs of the public.