At 7.3% CAGR, Asia Pacific Helicopter MRO Market is Projected to be Worth US$ 15,795.91 Million by 2030, says Business Market Insights.

According to Business Market Insights' research, the Asia Pacific helicopter MRO market was valued at US$ 8,983.26 million in 2022 and is expected to reach US$ 15,795.91 million by 2030, registering a CAGR of 7.3% from 2022 to 2030. Procurement of helicopters in defence is among the critical factors attributed to the Asia Pacific helicopter MRO market expansion.

The evolving modern warfare scenario has compelled governments of various countries across the globe to assign significant funds and financial aid toward respective defense and military forces. The defense budget allocation supports army and military forces to obtain enhanced technologies and equipment from domestic or international developers. Further, military and army vehicle upgrades are rising owing to growing defense budget allocation. Furthermore, the increasing governmental expenditure showcases the government's focus on strengthening national security forces. There is an increased need to reinforce military and border security forces with advanced surveillance, communication, navigation equipment, artilleries, armaments, vehicles, and others. Hence, military forces across the world focus on investing significant amounts in procuring advanced technologies. Defense forces' constant inclination to acquire new technologies for non-combat and combat operations further boosts military expenditure worldwide.

As per the Stockholm International Peace Research Institute (SIPRI), global military expenditure increased to US$ 2,148 billion in 2022, representing a 3.5% increase from 2021. The US, China, India, Russia, and Saudi Arabia were the top five spenders in 2022, which accounted for 63% of the global expenditure. Increasing military expenditure encourages the adoption of various advanced combat, support, and rescue helicopters in the military. In July 2023, the Argentine Ministry of Defense announced the signing of a deal to purchase Light Utility Helicopters from India's Hindustan Aeronautics Limited (HAL). Thus, new procurements of helicopters in the defense sector owing to increased military expenditure drive the demand for helicopter MRO services.

On the contrary, lack of workforce in industry helicopter MRO market manufacturers hurdles the growth of Asia Pacific helicopter MRO market.

Based on component, the Asia Pacific helicopter MRO market is categorized into airframe maintenance, engine maintenance, component maintenance, and line maintenance. The engine maintenance segment held 46.8% market share in 2022, amassing US$ 4,202.58 million. It is projected to garner US$ 7,752.33 million by 2030 to expand at 8.0% CAGR during 2022-2030.

In terms of helicopter type, the Asia Pacific helicopter MRO market is categorized into light helicopter, medium helicopter, and heavy helicopter. The medium helicopter held 47.0% share of Asia Pacific Helicopter MRO market in 2022, amassing US$ 4,224.89 million. It is projected to garner US$ 7,347.73 million by 2030 to expand at 7.2% CAGR during 2022-2030.

By end users, the Asia Pacific helicopter MRO market is bifurcated into commercial and military. The military segment held 73.5% share of Asia Pacific Helicopter MRO market in 2022, amassing US$ 6,602.24 million. It is projected to garner US$ 11,876.03 million by 2030 to expand at 7.6% CAGR during 2022-2030.

Based on country, the Asia Pacific helicopter MRO market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 32.7% share of Asia Pacific helicopter MRO market in 2022. It was assessed at US$ 2,934.15 million in 2022 and is likely to hit US$ 4,877.37 million by 2030, exhibiting a CAGR of 6.6% during 2022-2030.

Key players operating in the Asia Pacific helicopter MRO market are Airbus SE, Elbit Systems Ltd, Israel Aerospace Industries Ltd, and Leonardo SpA, among others.

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