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Global Military Helicopters Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028
The Global Military Helicopters Market is projected to register a CAGR of -0.65%. Key Highlights. Largest Market by Body Type - Multi-Mission Helicopter : Their ability to perform various combat missions is attracting several countries to focus more on the procurement of these helicopters.
New York, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Military Helicopters Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381321/?utm_source=GNW
Largest Market by Region - North America : Various ongoing military modernization programs aimed at procuring advanced rotorcraft across the region are anticipated to drive the market’s growth.
Largest Market by Country - United States : The United States is focusing on procuring more advanced helicopters to maintain its military supremacy, thus supporting the growth of the military helicopters market.
Key Market Trends
Multi-Mission Helicopter is the largest segment by Body Type.
Rotorcraft demand is fueled by increasing military conflict, terrorism, border disputes, territory breach, and violations. The regional armed forces are also upgrading the capabilities of helicopters with cutting-edge technologies to gain a military advantage over enemies. 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.
China, Japan, and India are expected to purchase most of the helicopters in the Asia-Pacific region during the forecast period. Some of the procurements are China’s 500 Russian Mi-17 helicopters by 2039 and Japan’s purchase of 150 Bell 412 helicopters. Around 102 helicopters will likely be purchased by India, including 24 MH-60Rs, 34 Dhruv ALHs, 26 SA-315s, 12 Dornier 228s, and 6 AH-64Es.
Turkey, Algeria, and Egypt are projected to purchase most of the helicopters in Middle East & Africa during the forecast period. Egypt plans to buy 24 EW-149 multi-mission helicopters by 2024, and Algeria plans to purchase 42 Mi-28 attack helicopters. Around 160 helicopters will likely be purchased by Turkey, including 109 S-70 utility helicopters. All the helicopters will likely be delivered by 2026.
A total of 901 helicopters will likely be delivered in Europe during the forecast period, including 411 multi-mission, 64 transport, and 426 other helicopters. During the forecast period, the United States plans to procure around 214 rotorcraft, which include CH-47 Chinook, UH-60 Black Hawk, CH-53K, AH-1Z, and MH-139A.
North America is the largest segment by Region.
The rotorcraft accounted for around 40% of the global military aircraft fleet in 2021. The international security horizon in the second half of 2021 was marked by escalating conflicts and geopolitical and border issues, with major confrontations such as between Russia and Ukraine, India and China, and other nations in Asia-Pacific. The armed conflicts and internal security aided in the surge of defense expenditures globally, with nations strengthening their armed forces with new procurements of rotorcraft.
The world defense expenditure crossed over USD 2 trillion in 2021, with major military powers such as the United States surging their defense budget by 3%, from USD 778 billion in 2020 to over USD 800 billion in 2021. The United States was followed by China, India, Russia, and the United Kingdom, which also increased their defense expenditures by 14%, 5%, 6.8%, and 13%, respectively.
In 2022, the war between Russia and Ukraine further fueled the need to reassess the operational readiness of the armed forces globally. NATO nations are undergoing fleet modernization and expansion programs with the procurement of new rotorcraft in the process.
Europe, the Middle East, and Africa were the major regions with a growth of 2%,8%, and 8%, respectively, in their active rotorcraft aircraft fleet. Thus, due to such developments, the global rotorcraft aircraft market is expected to increase during 2022-2028.
Competitive Landscape
The Global Military Helicopters Market is fairly consolidated, with the top five companies occupying 90.31%. The major players in this market are Airbus SE, Lockheed Martin Corporation, Russian Helicopters, Textron Inc. and The Boeing Company (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06381321/?utm_source=GNW
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