Helicopter Services Market Size, Share

A helicopter service is a mode of transportation that utilizes helicopters. Among the uses for helicopter services are emergency medical services, transportation of passengers and goods, aerial photography and surveying, search and rescue operations, offshore drilling, and other specialized tasks such as firefighting, military operations, and medical evacuations.

Private businesses, government agencies, or military entities may provide a helicopter service. Some helicopter operators also provide sightseeing trips that provide customers with an exciting and different viewpoint of the local area from the air, in addition to carrying passengers and goods. These services increase situational awareness and ensure operation efficiency and safety, resulting in fewer accidents and lower operational costs.

Market Dynamics

Projected Rebound in the Travel and Tourism Industry Drives the Global Market

The worldwide travel and tourist industry has had significant impacts due to the pandemic between 2020 and 2021. Various nations responded by implementing numerous national development plans and adopting strategies to promote economic diversification. Therefore, it is anticipated that the tourism and travel industry will experience substantial growth over the medium to long term.

International tourism increased in 2022 due to the easing of travel restrictions at several destinations and the expansion of vaccination programs in numerous nations. This factor is anticipated to improve the prospects of several related industries, including the leisure charter, air taxi, aerial sightseeing, media, and entertainment industries. This is expected to drive market growth.

Increasing Prevalence of Disasters and the Growing Need for Rapid Emergency Response Creates Tremendous Opportunities

The frequency of wildfires is expected to increase over the next two decades due to rising global temperatures, creating a greater demand for search and rescue and aerial firefighting operations. Thus, it is anticipated that end-user expenditures on these services will increase. Climate change has contributed to the increase in the frequency of natural disasters. The increasing occurrence and intensity of natural calamities may impact future demand for search and rescue aircraft.

On the other hand, as road traffic becomes more congested, the demand for faster aerial transport is anticipated to increase, leading to a rise in spending on Helicopter Emergency Medical Services, especially in developing nations, in the coming years. Helicopters can meet these requirements because they can operate without a paved runway, take off and land at the scene of the incident, and thus reduce response and travel times. These factors increase the demand for helicopters for the applications above, creating market expansion opportunities.

Regional Analysis

North America is the most significant global helicopter services market shareholder and is estimated to exhibit a CAGR of 11.86% during the forecast period. Increasing offshore wind farm projects throughout the region have increased the demand for helicopter services in tandem with the trend toward cleaner, more sustainable energy requirements. As a result, new contracts and partnerships have increased, boosting market value. For instance, in April 2022, Orsted and Eversource announced that HeliService International Inc. had been awarded the contract for helicopter crew change operations for their joint venture of offshore wind projects in the Northeastern United States. Leonardo AW169 helicopters will be used to support the company's daily operations.

Additionally, the surging revenue from the oil and gas industry has directly impacted the demand for helicopter services in the offshore segment of the helicopter services market in the United States. Despite the economic slowdown brought on by the lockout, the oil and gas industry's revenue was valued at USD 110 billion in 2020.

Key Highlights

The global helicopter services market was valued at USD 22 billion in 2022. It is estimated to reach USD 56.33 billion by 2031, growing at a CAGR of 12.07% during the forecast period (2023–2031).
Based on application, the global helicopter services market is bifurcated into business and corporate travel, air ambulance, search and rescue, leisure charter, transport, media and entertainment, surveying, offshore, and others. The air ambulance segment dominates the global market and is projected to exhibit a CAGR of 9.86% over the forecast period.
North America is the most significant global helicopter services market shareholder and is estimated to exhibit a CAGR of 11.86% during the forecast period.