Search And Rescue Helicopter Market Worth $2.84 Billion By 2030

Search And Rescue Helicopter Market Growth & Trends

The global search and rescue helicopter market size is anticipated to reach USD 2.84 billion by 2030, with an estimated CAGR of 4.1% from 2022 to 2030, according to the latest report by Grand View Research, Inc. A rise in search & rescue operations around the world and increasing deliveries of helicopters are driving the growth of the industry. For instance, in March 2022, China’s Ministry of Transport signed a contract with Leonardo S.p.A for six AW189 search & rescue helicopters. The company aims to complete the deliveries of the same by 2023. The rising evacuation missions, surveillance tasks, rescue operations, and other operations, conducted by commercial & civil entities and militaries have augmented the demand for search & rescue helicopters.

Commercial entities, such as oil refineries, create product demand as they operate their own search & rescue helicopter fleets. For instance, in September 2022, Equinor, a petroleum refining company, awarded Bristow Group Inc. the contract to provide SAR services over four years. As per the contract, Bristow Group will provide SAR services with three SAR-ready advanced S-92 helicopters. The Asia Pacific region is expected to grow at the fastest CAGR from 2022 to 2030 due to the rising commercial & civil and military applications for search & rescue helicopters. For instance, in June 2022, the Indian Coast Guard ordered a squadron of Hindustan Aeronautics Ltd.’s MK III for SAR and surveillance purposes along the coastlines.

Moreover, countries in the region are formulating favorable policies to encourage FDI in their country. For instance, China’s favorable FDI policies for manufacturers enabled many prominent companies, including Airbus S.A.S. and Sikorsky, to establish manufacturing and assembly facilities in China. For instance, in April 2019, Airbus Helicopters opened its H135 final assembly line in Qingdao, China. The Airbus factory is the first foreign manufacturer-operated helicopter Final Assembly Line (FAL) in China and the first H135 FAL situated outside Europe, which is anticipated to fuel the regional market growth.

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Search And Rescue Helicopter Market Report Highlights

• The rescue equipment component segment is predicted to register the fastest CAGR during the forecast period

• This is due to the increase in search & rescue operations, which require efficient and robust rescue equipment for safe and successful operations

• The North America region accounted for the largest revenue share in 2021 owing to an increase in search & rescue operations offshore and the replacement of old fleets

• The commercial & civil end-use segment led the global industry in 2021 on account of multiple product applications in this segment, such as air ambulances, evacuation missions, aid & rescue missions, and more

Search And Rescue Helicopter Market Segmentation

Grand View Research has segmented the global search and rescue helicopter market based on component, type, end-use, and region:

Search & Rescue Helicopter Component Outlook (Revenue, USD Million, 2018 - 2030)

• Aero Structures

• Engine

• Avionics

• Rescue Equipment’s

• Electrical System

• Others

Search & Rescue Helicopter Type Outlook (Revenue, USD Million, 2018 - 2030)

• Light

• Medium

• Heavy

Search & Rescue Helicopter End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Commercial & Civil

• Military

Search & Rescue Helicopter Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

• Asia Pacific

  • China

  • India

  • Japan

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa (MEA)

List of Key Players of Search And Rescue Helicopter Market

• Airbus S.A.S

• Lockheed Martin Corp.

• Leonardo S.p.A

• Bell Textron, Inc.

• Hindustan Aeronautics Ltd.