The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, June 15, 2023 /PRNewswire/ -- As per The Business Research Company's Commercial Helicopters Global Market Report 2023, the global commercial helicopters market size will grow from $28.2 billion in 2022 to $28.7 billion in 2023 at a compound annual growth rate (CAGR) of more than 1%. The global commercial helicopters market size is then expected to grow to $39 billion in 2027 at a CAGR of more than 7%. Going forward, growing demand for air taxi, rise in air transportation, increasing commercial aircraft orders, growth in offshore oil and gas industry and growing urbanization will drive the commercial helicopters market growth.
The global commercial helicopters market is concentrated, with a few large players. Airbus SE was the largest commercial helicopters competitor with 14.3% share of the market, followed by Leonardo SpA, Russian Helicopters, Textron, Lockheed Martin Corporation, and Kawasaki Heavy Industries Ltd.
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Airbus Group SE headquartered in Leiden, the Netherlands, was the largest competitor in the commercial helicopters market in 2022, with a 14.3% share of the market. Airbus SE is a provider of aerospace products, services and solutions. It manufactures commercial aircraft, helicopters, military transport aircraft, satellites and launch vehicles. The company as original equipment manufacturer (OEM) it provides structure parts, avionics and instruments, engine parts, aircraft interiors, batteries, and modification kits.
Airbus' growth strategy focuses on strengthening its operational capabilities through gaining new contracts. For instance, in May 2023, the company's Airbus Corporate Helicopters business received an order from Air Corporate, an Italy-based business aviation operator for delivering 43 new helicopters. The agreement includes three twin-engine ACH160s along with 40 H125 and H130 single-engine helicopters.
In addition, in April 2023, Airbus, introduced a DisruptiveLab concept helicopter, a brand-new demonstrator that flew for the first time. An efficient propulsion system, by testing a fully parallel hybrid propulsion system that enables batteries to be recharged in flight, is evaluated by this laboratory. Its new aerodynamic architecture, by reducing mass and drag, is intended to reduce fuel consumption. Many innovations will be tested and featured on DisruptiveLab, with a target of reducing carbon emissions by 50%.
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The global commercial helicopters market is segmented -
- By Type: Light-Weight Commercial Helicopter, Medium-Weight Commercial Helicopter, Heavy-Weight Commercial Helicopter
- By Number Of Engines: Single-Engine, Multi-Engine
- By Application: Oil and Gas, Transport, Medical Services, Law Enforcement and Public Safety, Others
The top growth potential in the commercial helicopters market by type will arise in the medium weight commercial helicopters market, which will gain $5.6 billion of global annual sales by 2027.
The Business Research Company recommends players in the commercial helicopters market to focus on market-trend-based strategies such as development of drone taxis and UAV commercial helicopters, use of technologies such as artificial intelligence technology and internet of things (IoT), and seek strategic partnerships and collaborations to expand their product portfolio.
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