Market Introduction
The technological advancements in North America have led to highly competitive markets. Moreover, the region is a home of world’s largest manufacturing industry, which is harnessing the latest designing and tools for producing the most advanced products and solutions, including helicopters. The region has a diversified manufacturing sector that produces consumer as well as industrial products. It is the home of most of the fortune 500 companies in the world, who also happen to be the extensive designing and R&D centers based in the region. The region houses key helicopter manufacturers such as Bell Helicopter Textron, Inc.; Airbus Helicopters, Inc.; Boeing Military Aircraft; Enstrom Helicopter Corporation; and Lockheed Martin Corporation. Airbus Helicopters Inc. is one of the prominent helicopter manufacturers in the region. The company has served the region’s customers for more than 50 years with its manufacturing/production facilities lines in Columbus and Mississippi (states in the US). More than 1,000 skilled and dedicated employees support some 800 customers and more than 2,600 aircraft in service in the region/country. The demand for helicopters in the region is driven by growing procurement of helicopters for commercial and military uses. The commercial helicopter market growth in the region is largely propelled by usage of helicopters for professional training and leisure purpose. The demand for military helicopters is fueled by the ongoing process of replacing and modernizing the fleet size and capabilities undertaken by regional military/armed forces.
In case of COVID-19, North America is highly affected specially the US, with thousands of infected individuals facing severe health conditions across the country. The US is the highest military spender across the globe and has a substantial number of defense contractors across its borders. On the contrary, the continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders. During Q2 and Q3 of 2020, the majority of the manufacturing plants were either temporarily shut or operating with minimum staff. Moreover, the supply chain of equipment and related components are disrupted. In addition, the demand for defense equipment has been showcasing a slowdown since the outbreak of the virus in the country. The US is the hub of prominent helicopter manufacturers; however, the emergence of the pandemic has resulted in supply chain issues, leading to disruption in helicopter production.
Market Overview and Dynamics
The North America helicopters market is expected to grow from US$ 12,982.93 million in 2021 to US$ 18,711.54 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028. Aging helicopter fleet will drive the North America helicopters market. Many countries across North America are now witnessing an increase in aging helicopter fleet size, which is creating immense demand for new and advanced helicopters. OEMs can effectively use this opportunity to strengthen their market position. Further, according to a report published in 2018–2019, approximately 25% of the total helicopter fleet size in US is over 20 years old and falls under “fleet renewal pending “category, which is expected to create opportunity for OEMs in the market. Several ongoing upgrade programs taking place in various major countries are expected to create growth opportunity for OEMs, which will drive the North America helicopters market in coming years.
Key Market Segments
In terms of type, the single rotor segment accounted for the largest share of the North America helicopters market in 2020. In terms of weight, the medium weight segment held a larger market share of the North America helicopters market in 2020. Further, the military segment held a larger share of the North America helicopters market based on application in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America helicopters market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Airbus S.A.S.; Bell Textron Inc.; Boeing; Enstrom Helicopter Corp.; Kaman Corporation; Leonardo S.p.A.; Lockheed Martin Corporation; MD Helicopters, Inc.; Robinson Helicopter Company; and Russian Helicopters.
Reasons to buy report
North America Helicopters Market Segmentation
North America Helicopters Market - By Type
North America Helicopters Market - By Weight
North America Helicopters Market - By Application
North America Helicopters Market - By Country
North America Helicopters Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 12,982.93 Million |
| Market Size by 2028 | US$ 18,711.54 Million |
| CAGR (2021 - 2028) | 5.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Helicopters Market is valued at US$ 12,982.93 Million in 2021, it is projected to reach US$ 18,711.54 Million by 2028.
As per our report North America Helicopters Market, the market size is valued at US$ 12,982.93 Million in 2021, projecting it to reach US$ 18,711.54 Million by 2028. This translates to a CAGR of approximately 5.4% during the forecast period.
The North America Helicopters Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Helicopters Market report:
The North America Helicopters Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Helicopters Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Helicopters Market value chain can benefit from the information contained in a comprehensive market report.
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