Military Helicopter Market: Information by Type (Heavy Cargo, Attack, Reconnaissance, Light Utility, Medium Utility, Maritime, and Search & Rescue), by Procurement Type (New Acquisitions, Upgrades), and by Region — Global Forecast till 2023
Military helicopters are known for their multiple applications during wars like surveillance, rescue, attack, and many more. The ability to land in difficult terrains and back up units in difficult times give it much acknowledgement. Riding on features like these. The military helicopter market is all set to soar with an 8.4% CAGR during the forecast period (2018-2023). Market Research Future (MRFR) in their latest report on the said market discussed the possibilities riding on which the global market can expand.
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Factors such as increasing territorial conflicts, growing demand for upgradation, and integration of advanced technologies can be acknowledged for better market prospects. Increasing military expenditure can also inspire market expansion. But the fluctuating raw material prices can hamper the global market growth.
MRFR in their recently documented report on the military helicopter market segmented it by type and procurement type. The segmentation includes volume-wise and value-wise analysis of the market and gives a deeper look into the market.
By type, the military helicopter market includes heavy cargo, attack, reconnaissance, light-utility, medium-utility, maritime, and search & rescue. The search & rescue segment of the military helicopter segment has significant market dominance as it, at times, gets used in civic purposes as well. The heavy cargo segment gets widespread application in supplying backups to military in difficult regions.
By procurement type, the Military Helicopter Market comprises new acquisitions and upgrades. The new acquisition segment is expected to witness substantial traction as evolving regions are showing considerable interest in adding advanced fleets to their defense segment. The upgrade section can also witness substantial rise as countries would implement their research & development results to modify their existing aircrafts.
North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA) are regions that have been named in the report recently published by MRFR. The regional analysis plays a pivotal role in revealing growth opportunities.
The military helicopter market is getting spearheaded by North America. The region is known for its huge budget allotment for the defense sector and constant upgradation and inclusion of latest technologies are its chief features. The region is also experiencing strong traction from the presence of countries like the U.S.
Europe is making significant marks in the field and it is getting acknowledged for the efforts made by France, Italy, the U.K. and others. These countries are providing much support to the regional market through government initiatives and private investments.
The APAC region is expecting fast growth due to the presence of several developing economies who are eager to introduce the latest models to strengthen their fleet. In fact, growing territorial conflicts are impacting the regional market extensively.
The MEA region is expected to benefit from the presence of countries like Saudi Arabia and Israel. Israel is making several developments in the sector owing to which the region can anticipate moderate growth. But presence of poor economies in the region can halt the expected growth curve.
Companies impacting the global military helicopter market, as per MRFR reports, are Hindustan Aeronautics Limited (India), Lockheed Martin Corporation (US), BAE Systems (UK), Boeing (US), Leonardo (Italy), Airbus S.A.S (France), Korea Aerospace Industries, Ltd. (South Korea), Russian Helicopters, JSC (Russia), Bell Helicopter Textron Inc. (US), and KAMAN CORPORATION (US). These companies are getting involved in strategic moves to take advantage of the market and progress but the regional market is also gaining much from their competitive strategies. The growth is quite holistic.
Recently published news regarding the notions of the U.S. Army, the defense sector is planning on buying long range assault aircrafts and replace UH-60 Black Hawk Helicopters. These can be helicopters as well and this time, defense sector’s interest is expected to increase helicopter manufacturer’s initiatives.
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