Global Military Helicopters Market Major Players Forecast 2024 - 2033
23 Aug, 2024
The military helicopters market has experienced strong growth, elevating its size from $59.69 billion in 2023 to $63.65 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.6%. This growth in the historic period is linked to increasing military expenditure, rising demand for lightweight helicopters, the demand for attack and transport helicopters, and low-interest rates. Moving forward to 2028, the market is expected to see strong growth, projected to reach $77.9 billion at a decreased CAGR of 5.2%. Contributing factors to this growth include an increase in territorial and political conflicts, rapid advances in technology, and increasingly advanced military helicopters. Key trends in the forecast period involve implementing technological advancements and developments such as dynamics modeling and fly-by-wire controls into lightweight helicopter products, integrating IoT systems to stay competitive in the market, implementing artificial intelligence technology into products, considering 3D printing technology for manufacturing lightweight parts at low costs, adopting single-engine operative mode for helicopters to reduce noise and fuel emissions, implementing autonomous systems for a fully upgraded autonomous function, and considering partnerships or collaborations with smaller companies to save costs and improve helicopter maintenance.
Major Driver In The Military Helicopters Market
Increasing military expenditure has contributed to the growth of the military helicopter market. In April 2022, the Stockholm International Peace Research Institute reported that global military spending was expected to rise by 0.7% in real terms to $2113 billion in 2021. This marked the seventh consecutive year of increased spending. The US saw a 24% increase in military R&D funding from 2012 to 2021, while China, the second-largest spender, allocated about $293 billion to its military in 2021, a 4.7% increase from 2020. China has seen a rise in military spending for 27 consecutive years. This growth in military expenditure has led to higher procurement of warships, submarines, aircraft, and helicopters, thereby boosting revenues for the military helicopter market. The surge in military expenditure positively impacts the military helicopter market in 2023, and this trend continues into 2024. Looking to 2028, the market is expected to maintain growth, reflecting the ongoing rise in global military expenditure.
Request A Free Sample Of The Global Military Helicopters Market ReportMilitary Helicopters Market Competitive Landscape
The Boeing Company, Airbus, Russian Helicopters, Lockheed Martin, Leonardo SpA, China Aerospace Science and Industry Corporation, Textron Inc., Raytheon Technologies, BAE Systems, Hindustan Aeronautics Limited, Changhe Aircraft Industries Corporation, Shenyang Aircraft Corporation, TATA Advanced Systems, Korea Aerospace Industries, Kawasaki Aerospace Company, Subaru Corporation, Mitsubishi Electric, Dassault Aviation, NHIndustries, Kazan Helicopters, Enstrom Helicopter Corporation, CHC Helicopter, StandardAero, MD Helicopters, Inc., Kaman Aircraft, Robinson Helicopter Company, Bombardier Inc., De Havilland, Northrop Grumman, McDonnell Douglas, Spirit AeroSystems, General Dynamics, Cicaré S.A., Embraer S.A., Empresa Nacional de Aeronautica (ENAER), Calidus LLC, Israel Aerospace Industries, Bearing Man Group (Pty) Ltd, Menzies Aviation (Handling) (Pty) Ltd, Denel Aerostructures (Pty) Ltd, Precision Aviation Helicopters (Pty) Ltd, Stellair cc
Key Military Helicopters Market Trend
Technological advancements in helicopter manufacturing are transforming the military helicopter market. Recent innovations, including additive manufacturing, computational structural dynamics modeling, advanced condition-based maintenance (CBM), fly-by-wire controls, health and usage monitoring systems (HUMS), and advanced turbine engine programs, are enhancing rotorcraft capabilities. For instance, in February 2022, Steadicopter Ltd., an Israel-based designer and manufacturer of Rotary Unmanned Aircraft Systems, introduced the Black Eagle 50H, a hybrid gas and electric helicopter with a long range of up to five hours, suitable for intelligence, surveillance, target acquisition, and reconnaissance (ISTAR) on both land and sea.
Get The Full Global Military Helicopters Market ReportMilitary Helicopters Market Segmentation
The military helicopters market covered in this report is segmented –
1) By Type: Light Military Helicopter, Medium Military Helicopter, Heavy Military Helicopter
2) By Component & System: Main Rotor Systems, Electrical Systems, Hydraulic Systems, Avionics, Flight Control Systems, Undercarriages, Protection Systems, Other Component & Systems
3) By Number of Engines: Single, Twin Engine
4) By Application: Utility Military Helicopter, Transport Military Helicopter, Attack/Assault Military Helicopter, Search and Rescue Military Helicopter, Multi-Role Military Helicopter, Reconnaissance and Observation Military Helicopter
By Geography:The regions covered in the military helicopters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
Asia-Pacific was the largest region in the military helicopters market in 2023.
The Military Helicopters Global Market Report 2024 furnishes information about the global military helicopters market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.