Military Helicopter Market Is Estimated To Register A CAGR Of Approximately 8.4% During The Forecast Period Of 2018 To 2023.
Military helicopters assist in surveillance and evacuation activities. Factors such as territorial conflicts, increased helicopter fleet manufactured and the growing demand for replacement of obsolete fleets are driving the global military helicopter market.
The global military helicopter market has been segmented based on type, procurement type, and region. On the basis of type, the military helicopter market is divided into heavy cargo, attack, reconnaissance, light utility, medium utility, maritime, and search & rescue. In 2017, the attack segment dominated the global market. Enhanced functionalities offered such as firing stability, tactical air control and exclusive economic zone protection are factors driving the demand for attack helicopters. However, maritime helicopters are anticipated to grow at the fastest CAGR over the forecast period owing to features offered such as advanced sensors, situational awareness, and command & control among others. On the basis of procurement type, the market has been segmented into new acquisitions, and upgrades. The new acquisitions segment dominated the global market over the forecast period owing helicopter fleet manufactured. However, upgrades segment is expected to grow at the fastest CAGR over the forecast period. High cost of original equipment and services offered by aftermarket players such as modifications, customizations and maintenance are boosting the upgrades segment.
On the basis of region, the global military helicopter market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2017, North America dominated the global market. Presence of prominent players such as Lockheed Martin Corporation, and Boeing among others is driving the market growth. Additionally, stringent government regulations pertaining helicopter manufacturing and flying are driving the market growth. However, Asia Pacific is expected to grow at the fastest CAGR over the forecast period owing to factors such as increasing defense expenditure by developing economies such as China and India. Additionally, increasing adoption of military helicopters by various governments is also boosting the market growth in the region.
The key players in the global military helicopter market are Lockheed Martin Corporation (US), Boeing (US), BAE Systems (UK), Hindustan Aeronautics Limited (India), Airbus S.A.S (France), Leonardo (Italy), Bell Helicopter Textron Inc. (US), Russian Helicopters, JSC (Russia), Korea Aerospace Industries, Ltd. (South Korea) and KAMAN CORPORATION (US).
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