The global commercial helicopters market is expected to recover from an extended slump as the global economy recovers from a fiscal meltdown. The commercial helicopters market witnessed unprecedented growth in the global sales of civil rotorcraft at the advent of 21st century. However, the global economic meltdown in 2008 saw a decrease in rotorcraft utilization and new orders, which led to difficulties in financing. Commercial helicopters broaden the commute & expand capabilities of businesses, security agencies, and city governments. The financial crisis had a harsh impact on sales of commercial helicopters in developed economies around the globe. Commercial helicopters market growth in regions with high GDP was less affected by the financial crisis than those with a lower GDP. Recovering global economy offers fresh optimism to commercial helicopters’ sales.
The commercial helicopters market expansion is expected to witness high growth in sectors such as offshore gas & oil production, exploration, HEMS, law enforcement & public safety, and VIP transport. Reduced noise and improved speeds are vital aspects to be considered in the development of helicopters in the future. Abridged accident rates, improved commute session efficiency, and economical life cost management of rotorcrafts are projected to emerge as supplementary drivers for commercial helicopters market augmentation.
Commercial helicopters’ financing aspect is expected to remain a deterrent force for new asset acquisitions. However, a recovery is anticipated on the horizon as the economy moves in a positive direction. Factors such as tight lending standards, government regulations, rigorous evaluation of applicants, and the propagation of interest rates have made it gradually more difficult to procure loans. The market is poised to encounter scarcity of licensed pilots owing to the occupational hazards and surging economic uncertainties. Lack of qualified helicopter maintenance technicians and obscurity in obtaining machine parts and components are expected to impede commercial helicopter sales. With rise in competition, key players are intensifying their focus on energy-efficient technology and innovations to acquire the cutting edge. Offering unique product differentiation is foreseen to emerge as a strategic initiative to be employed by these vendors.
In the new product lines, key vendors launch enhanced situational awareness tools, safety-enhancing technologies, along with acquisition of usage and health monitoring, maintenance-saving vibration reduction packages, and workload-plummeting Automatic Flight Control (AFC) systems. Key players such as AgustaWestland have proposed huge investments in advanced technologies to act as product differentiators. A key goal has been to provide jet-like efficiency-ease in helicopters with active vibration control of base frame.
The markets in North America and Europe occupy significant market share. However, owing to the imminent saturation, these regions are not expected to register significant growth in their market size during the forecast period. Emerging markets of Asia Pacific and Middle East are anticipated to witness elevated growth prospects owing to the colossal potential in countries such as China, India, Japan, Australia, UAE, and Qatar. Steady economic growth of gas industry of the Middle Eastern countries is crafting extensive demand for commercial helicopters to meet its escalating requisite of offshore transport in the coming years. Latin America is another region that is expected to display a stout demand for commercial helicopters, which can be attributed to the brawny fiscal growth in the countries such as Mexico and Brazil.
All new commercial helicopters sales would gradually convey certain degree of lock-in, which will be evenhanded by surging second-hand helicopters’ sales. Consequently, this will ensure great value in terms of economies of scale, reduced risk, and simplicity of management.
Key players in commercial helicopters market during the forecast period include AgustaWestland, Bell Helicopter, Korea Aerospace Industries (KAI), Avicopter, Eurocopter, PZL Swidnik, Enstrom Helicopter Corporation, Kaman Aerospace, and Sikorsky Aircraft Corporation.
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