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Military Helicopters Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Military Helicopters Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6071792
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the military helicopter market are Airbus, BAE Systems, Boeing, China Aerospace Science and Industry Corporation, Enstrom Helicopter Corporation, Hindustan Aeronautics Limited, Korea Aerospace Industries, Leonardo S.p.A., Lockheed Martin, and NHIndustries.

The global military helicopters market is expected to grow from $50.75 billion in 2020 to $52.27 billion in 2021 at a compound annual growth rate (CAGR) of 3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $67.5 billion in 2025 at a CAGR of 6.6%.

The military helicopter market consists of sales of military aircraft by entities (organizations, sole traders, and partnerships) that produce military helicopters.A military aircraft is specifically built or converted for military missions such as transport of troops, combat search, and rescue (CSAR), medical evacuation (MEDEVAC), airborne command post, or armed with weapons for attacking ground targets.

Only goods and services traded between entities or sold to end consumers are included.

Stringent regulations imposed on the manufacturing and maintenance of military helicopters is expected to limit the growth of the military helicopters market.The aircraft manufacturing and maintenance process is highly regulated by the government organizations of every country.

According to the Journal of Aeronautics & Aerospace Engineering, the maintenance, repair, and overhaul (MRO) organizations need to be approved by aviation authorities such as European Aviation Safety Agency (EASA) and the Federal Aviation Administration (FAA).The equipment used in the manufacturing and maintenance process must be certified and licensed.

This scenario is predicted to restrict the growth of the military helicopters market over the forecast period.

The military helicopter market covered in this report is segmented by type into light military helicopter; medium military helicopter; heavy military helicopter. It is also segmented by application into utility military helicopter; transport military helicopter; attack/assault military helicopter; search and rescue military helicopter; multi-role military helicopter; reconnaissance and observation military helicopter.

Technological advancements in the helicopter manufacturing process is shaping the military helicopters market.The global helicopter industry is undergoing a substantial transformation in recent years.

Significant technological advancements including extensive use of additive manufacturing, computation structural dynamics modelling, advanced condition-based maintenance (CBM), fly by wire controls, health and usage monitoring systems (HUMS), and advanced turbine engine programs are promising big leap in the rotorcraft capabilities. For instance, in July 2019, Russian Helicopters Holding Company announced that the company is planning to re-engineer and manufacture about 30 helicopter parts using 3D printing technology.

Increasing military expenditure contributed to the growth of the military helicopters market growth. According to the Stockholm International Peace Research Institute (SIPRI), the global military expenditure reached $1917 billion in 2019, 3.6% up from $1822 billion in 2018, and the highest annual growth in expenditure since 2010. The USA, China, India, Russia, and Saudi Arabia together accounted for 62% of total global expenditure. Moreover, global military spending represented 2.2% of the global gross domestic product (GDP) in 2019. The growth in military expenditure led to an increase in theprocurement of warships, submarines, aircraft, and helicopters, thereby generated higher revenues for the military helicopters market.

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