Europe Military Helicopters Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028
The Europe Military Helicopters Market is projected to register a CAGR of 15.91%. Key Highlights. Largest Market by Body Type - Multi-Mission Helicopter : Their ability to perform various combat missions is attracting several countries in the region to focus more on the procurement of these helicopters.
New York, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Military Helicopters Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381487/?utm_source=GNW
Largest Market by Country - Italy : The country’s focus on amphibious support and special forces operations by procuring military rotorcraft is acting as a catalyst for its dominant position in the region.
Key Market Trends
Multi-Mission Helicopter is the largest segment by Body Type.
Rotorcraft demand is being fueled by an increase in military conflict, terrorism, border disputes, territory breach, and violation. To gain a military advantage over the opposition, the regional armed forces are also upgrading the capabilities of helicopters with cutting-edge technologies.
Ongoing tensions between Russia and Ukraine are encouraging various countries in the region to spend at least 2% of their GDP, which is a NATO standard, on their military. Thus, the countries are opting for the procurement of advanced helicopters to counter the threats in an effective way.
There are currently 3,363 helicopters in operation in Europe. With 1,632 helicopter operational forces, Russia possesses the most helicopters in the region. France and Italy have active fleets of 478 and 435 helicopters, respectively, after Russia. Multi-mission helicopters are expected to record the highest CAGR during the forecast period. Multi-mission helicopters can be used for close air support for ground troops and anti-tank operations to destroy enemy armor. Multi-mission helicopters are accountable for 38% of the total helicopter active fleet in the region, the highest, followed by others and transport helicopters, accounting for 32% and 30%, respectively.
A total of 901 helicopters are expected to be procured in Europe over the forecast period, mainly by Germany, France, the United Kingdom, Russia, Italy, Spain, the Netherlands, and the Rest of Europe, which may drive the demand for rotorcrafts in the region.
Italy is the largest segment by Country.
In 2021, Europe spent USD 418 billion on its military, an increase of 10% over 2020. Military R&D and weaponry purchases accounted for most of Europe’s defense expenditure rise. By the end of March 2022, numerous European NATO member nations announced plans to increase military expenditures in reaction to the Russian invasion of Ukraine in February 2022, aiming to meet or exceed the NATO spending target of 2% of GDP or higher.
In total, 26 of the 27 European NATO nations had available financing for their armed forces in 2021. Among the 26 countries, 8 spent at least 2% of their GDP on the military in 2021, a decrease from 9 in 2020.
Germany, France, the United Kingdom, Russia, Italy, Spain, the Netherlands, and the Rest of Europe plan to purchase helicopters from 2022 to 2028. A total of 901 helicopters are expected to be delivered in Europe during the forecast period.
Russia’s major procurement includes the Mi-28NM attack helicopter and Mi-38 transport helicopter. The UK is also procuring an AH-64E attack helicopter and a CH-47 Chinook transport helicopter.
France also ordered the H225M, the A400M transport helicopter, and the H160M utility helicopter. Germany is also procuring the NH-90 Attack Helicopters. During the forecast period, Romania and Hungary also plan to expand their fleet by procuring 60 and 18 helicopters.
The Europe Military Helicopters Market is fairly consolidated, with the top five companies occupying 107.74%. The major players in this market are Airbus SE, BAE Systems, Leonardo S.p.A, MD Helicopters LLC. and Russian Helicopters (sorted alphabetically).
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06381487/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001