PUBLISHER: The Business Research Company | PRODUCT CODE: 1427847
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427847
Helicopter engines are integral components of the propulsion system responsible for generating mechanical power for helicopters. They serve as auxiliaries, providing temporary power boosts during the take-off or landing of the helicopter.
The primary types of helicopter engines include piston engines, gas turbine engines, and stamping engines. A piston engine operates by using one or more pistons to convert pressure into rotational motion, producing power. These engines come in various weight categories, including light, medium, and heavy, and are available as new or pre-owned units. They find applications in diverse fields such as emergency medical services, corporate services, search and rescue operations, oil and gas industries, defense, homeland security, and more.
The helicopter engines market research report is one of a series of new reports from The Business Research Company that provides helicopter engines market statistics, including helicopter engines industry global market size, regional shares, competitors with a helicopter engines market share, detailed helicopter engines market segments, market trends and opportunities, and any further data you may need to thrive in the helicopter engines industry. This helicopter engines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The helicopter engines market size has grown steadily in recent years. It will grow from $22.48 billion in 2023 to $23.41 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historical period can be ascribed to the expansion of commercial aviation, heightened search and rescue operations, augmented utilization in law enforcement, border patrol, and homeland security requirements, and increased offshore operations.
The helicopter engines market size is expected to see steady growth in the next few years. It will grow to $26.89 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth anticipated in the forecast period can be attributed to the initiation of urban air mobility (UAM) programs, the renewal of aging helicopter fleets, an increasing demand for unmanned helicopters, and a focus on fuel efficiency and environmental sustainability. Major trends expected in the forecast period include advancements in engine technologies, the integration of digital technologies, the adoption of hybrid and electric propulsion, retrofitting and engine upgrades, and the global expansion of civil aviation.
The anticipated growth in the helicopter engines market is expected to be driven by the increasing utilization of helicopters. Helicopters, a type of aircraft designed for transportation to and from private residences with a limited number of passengers, find applications in various sectors such as emergency medical services, corporate services, and search and rescue operations. For example, Airbus Helicopters reported a record-breaking 216 light single-engine helicopters supplied in 2022, indicating a continuous market recovery with 374 gross orders (net: 362). This underscores the rising usage of helicopters, contributing to the anticipated growth of the helicopter engines market.
The growth of the helicopter engines market is expected to be propelled by the increasing military expenditure. Military expenditure encompasses the financial resources allocated by a country for defense and military-related activities on an annual basis. As military forces worldwide prioritize helicopter capabilities for various missions, including transport, reconnaissance, and search and rescue, the resulting contracts and investments play a significant role in driving the growth of the helicopter engines market. As evidenced by data from the Stockholm International Peace Research Institute (SIPRI), global military budgets reached an all-time high of $2.2 trillion in 2022, indicating a surge in military expenditure that will contribute to the growth of the helicopter engines market.
Strategic collaborations have become a prominent trend in the helicopter engines market, with companies actively engaging in partnerships to bolster their capabilities and competitiveness. An illustrative example is the collaboration between Leonardo S.p.A., an Italian aerospace company, and Safran Helicopter Engines, a French manufacturer of helicopter engines. Their partnership aims to develop the next-generation AW09 single-engine helicopter. Leveraging a combined support network, the collaboration promises advanced and cost-effective maintenance solutions, supported by customized Power-By-The-Hour (PBH) and Support-By-the-Hour (SBH) contracts, along with a range of digital services. Additionally, Hindustan Aeronautics Limited (HAL), an Indian aerospace and defense company, joined forces with Safran Helicopter Engines to jointly develop engines for the 13-ton IMRH (Indian Multi-Role Helicopter) and its naval versions.
Major companies in the helicopter engines market are directing their efforts toward technological innovations, such as the development of helicopter vision suites, to address specific requirements and maintain their market positions. An example is Elbit Systems, an international defense electronics company based in Israel, which launched the Elbit 5th Gen Vision Suite for military helicopters. This sophisticated suite integrates a sensor array, an Artificial Intelligence (AI)-powered mission computer, and a unique Helmet Mounted Display (HMD) system, enhancing situational awareness for helicopter pilots in challenging environments.
In August 2022, Bristow Group, a leading U.S.-based provider of vertical flight solutions, acquired British International Helicopter Services Limited (BIH) to strengthen its global government services business. The acquisition aims to enhance Bristow's position in providing safe and reliable vertical lift solutions, fostering new partnerships and solidifying existing relationships within government sectors. British International Helicopter Services Limited (BIH) is a UK-based company offering helicopter services.
Major companies operating in the helicopter engines market report are Aviation Industry Corporation of China, Raytheon Technologies Corp., Airbus Helicopters SAS, Honeywell Aerospace, Mitsubishi Heavy Industries Ltd., Rostec State Corporation, Safran S.A., Rolls-Royce PLC, Kawasaki Heavy Industries Ltd., IHI Corporation, GE Aerospace, TransDigm Group, StandardAero, Hindustan Aeronautics Limited, Woodward Inc., Pratt & Whitney Canada, Hamilton Sundstrand, MTU Aero Engines, Triumph Group Inc., ITP Aero, Aircraft Specialities Services Inc., ULPower Aero Engines, Rotax Aircraft Engines, Lycoming Engines, United Engine Corporation, Rotor X Aircraft Manufacturing Co., JSCKlimov, Tulsa Propulsion Engines, The Omsk Engine Design Bureau, Sunrise Helicopter Inc.
North America was the largest region in the helicopter engines market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the helicopter engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the helicopter engines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The helicopter engines market consists of sales of magnetos, fuel injection system, alternator, starter motor, and engine block. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Helicopter Engines Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on helicopter engines market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for helicopter engines ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The helicopter engines market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.