North America Helicopter Market size surpassed USD 9 billion in 2020 and is estimated to witness over 3% CAGR from 2021 to 2027.
The continuous rise in geopolitical disputes between countries across the globe is promoting the acquisition of new helicopters and upgrade of existing fleet by the defense sector. Industry participants are catering to the growing market demand by providing technologically advanced components for enhancing the operational efficiency of helicopters. Defense sectors in the U.S. and Canada are establishing partnerships with helicopter manufacturers to procure technologically advanced machines and equipment.
Get more details on this report - Request Free Sample PDF
The rising per capita income of individuals and improving personal lifestyle are supporting the increasing adoption of helicopters in the Emergency Medical Services (EMS) sector. Increasing number of medical service providers coupled with the growing number of High Net Worth (HNW) individuals in North America is influencing the market revenue.
The outbreak of COVID-19 negatively impacted the market landscape in North America. In May 2020, all world destinations-imposed travel restrictions, impacting the civil & cargo aviation sectors in North America. This led to a severe impact on the demand for helicopters from the commercial sector. Complete ban on all flight operations coupled with stringent travel restrictions adversely affected the use of helicopters for short-distance travel within the U.S. and Canada.
The aerostructure/airframe segment is anticipated to capture substantial market share through 2027, attributed to the requirement of various aerostructures/airframes for a wide range of applications. For instance, the Leonardo AW109 helicopter can be used for private and executive transport, rescue & medical services, utility, and security services. The helicopter requires several different types of aerostructures/airframes depending on the type of application.
The prominent players in the helicopter industry include Robinson Helicopter Company, Lockheed Martin Corporation, Boeing, Universal Helicopters, MD Helicopters, Inc., Babcock International Group PLC., and Bell Textron, Inc.
Manufacturers are emphasizing on strategic partnerships to expand their global footprint and develop advanced solutions to meet the growing demands of the industry. For instance, in September 2020, Boeing, Honeywell, and Rolls-Royce Deutschland announced a partnership to service H-47 Chinook engines for the DEFIANT X helicopter. This aided the companies to leverage their mutual technical expertise for the development of new systems & solutions.