Asia-Pacific Attack Helicopter Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.53 Billion |
| Market Size (2029) | USD 2.10 Billion |
| CAGR (2024 - 2029) | 6.63 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Attack Helicopter Market Analysis
The Asia-Pacific Attack Helicopter Market size is estimated at USD 1.53 billion in 2024, and is expected to reach USD 2.10 billion by 2029, at a CAGR of 6.63% during the forecast period (2024-2029).
Major military powers in the Asia-Pacific region, including India, China, Japan, and South Korea, are consistently increasing their defense budgets. A significant portion of these budgets is allocated to upgrading and enhancing air superiority. This focus is driving the growth of the attack helicopter market in the Asia-Pacific.
Rising armed conflicts, terrorism, border tensions, and territorial breaches are boosting the demand for attack helicopters. Additionally, regional armed forces are leveraging advanced technologies to enhance the effectiveness of their attack helicopters, aiming for a tactical edge over adversaries.
Moreover, growing partnerships between local and global players aimed at reducing manufacturing costs and improving delivery rates are poised to create market opportunities during the forecast period. However, constrained defense budgets in several Asia-Pacific countries may limit their procurement of new attack helicopters and associated systems.
Asia-Pacific Attack Helicopter Market Trends
Army Segment is Expected Witness the Highest Growth During the Forecast Period
Countries like China, India, Japan, and South Korea are ramping up their aerial combat capabilities through procurement and fleet modernization plans, driving growth in the Army segment. Rising geopolitical tensions among neighboring countries fuel defense spending, boosting the market for attack helicopters. For instance, in 2023, countries in the Asia and Oceania region collectively spent about USD 595 billion on defense, marking a 4.4% increase from 2022.
As defense spending rises, several countries in the region are modernizing their fleets and procuring new attack helicopters, propelling market growth. For example, in June 2024, the Indian government issued a Request for Proposal (RFP) to Hindustan Aeronautics Ltd., the designer and manufacturer of the 5.8-ton LCH Prachand helicopter. The RFP is for 156 helicopters: 90 for the Indian Army and 66 for the Indian Air Force. Once negotiations conclude and a contract is finalized, the deal is projected to exceed USD 5 billion. The LCH, capable of taking off and landing at altitudes of 16,400 feet, is particularly suited for operations along India's mountainous borders with China and Pakistan. Its armaments include Mistral air-to-air missiles, up to four 70mm FZ231 rocket pods, a nose-mounted 20mm M621 cannon, and future integration of Dhruvastra air-to-ground missiles.
Similarly, South Korea is making significant investments in advanced attack helicopters. In August 2024, the US State Department greenlit South Korea's purchase of up to 36 Boeing Apache AH-64E helicopters, estimated at USD 3.5 billion. South Korea will also acquire 76 GE T700 engines for the helicopters, with each helicopter using two engines and an additional four as reserves. Furthermore, each helicopter will feature the AN/ASQ-170 Modernized Target Acquisition and Designation Sight, and be armed with an extensive missile arsenal, including 456 Hellfire missiles, captive training missiles, and 152 Joint Air-to-Ground Missiles. Such advancements underscore the growing demand for attack helicopters in the Asia-Pacific Army segment during the forecast period.
China is Projected to Dominate the Market During the Forecast Period
China's defense budget has seen a consistent uptick, positioning the nation among the world's top defense spenders. These significant investments in defense modernization have notably bolstered the military helicopter segment. In 2023, China's military budget reached an estimated USD 296 billion, marking a 6% increase from 2022.
Border disputes with India, escalating confrontations with the U.S. in the contested South China Sea, and assertive claims over Taiwan are pivotal reasons behind China's aggressive weaponry and equipment modernization. The nation's advancements in stealth technology for helicopters are poised to amplify domestic and global demand. China's military spending aligns with the directives of its 14th Five-Year Plan (2021–2025). This robust defense expenditure has facilitated diverse military aircraft procurements, modernization, and retrofit initiatives. For example, in August 2022, coinciding with heightened tensions with Taiwan, China unveiled the Z-10ME helicopter, showcasing notable resemblances to Boeing's Apache. This helicopter is an upgraded variant of the Z-10 attack model already in service with the Chinese armed forces.
Further emphasizing its military advancements, in February 2024, China showcased the export variant of its flagship Z-10-ME-02 attack helicopter at the Singapore Airshow. This helicopter, as reported by Flight Daily News, the airshow's official magazine, boasts capabilities like carrying 23mm high-explosive incendiary ammunition, a 280kg drop tank, a mast-mounted radar, a missile approach warning system, and advanced countermeasures against heat-seeking infrared missiles. Such advancements are anticipated to bolster market demand in China throughout the forecast period.
Asia-Pacific Attack Helicopter Industry Overview
The Asia-Pacific attack helicopter market is consolidated and dominated by a few key players. Prominent companies include The Boeing Company, Airbus SE, Hindustan Aeronautics Limited, Leonardo S.p.A., and Rostec State Corporation.
Additionally, several major local defense manufacturers and state-owned enterprises collaborate with global entities to produce and assemble parts, components, and entire helicopters domestically, capturing a larger market share. For example, in March 2023, the Australian Ministry of Defense announced that local companies would supply components for all 29 new AH-64E Apache attack helicopters. Specifically, Thomas Global Systems, an Australian firm, will design and manufacture cockpit avionics for the global AH-64 Apache fleet, while Cablex, another local company, will handle cabling for the new Apaches. Such initiatives are poised to bolster the growth of domestic players during the forecast period.
Asia-Pacific Attack Helicopter Market Leaders
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The Boeing Company
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Rostec State Corporation
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Airbus SE
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Hindustan Aeronautics Limited
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Leonardo S.p.A
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Attack Helicopter Market News
- September 2024: The Australian Special Operations Forces (SOF) revealed plans to expand their fleet to 12 Lockheed Martin UH-60M Black Hawk helicopters, with an additional four set to be delivered by the end of 2024.
- September 2024: The Indonesian Air Force ordered four Airbus H145 helicopters, aligning with its training modernization initiative.
Asia-Pacific Attack Helicopter Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 End-User
5.1.1 Army
5.1.2 Navy
5.1.3 Air Force
5.2 Geography
5.2.1 China
5.2.2 India
5.2.3 Japan
5.2.4 South Korea
5.2.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 The Boeing Company
6.1.2 Rostec State Corporation
6.1.3 Airbus SE
6.1.4 Textron Inc.
6.1.5 Hindustan Aeronautics Limited
6.1.6 Leonardo S.p.A
6.1.7 Kawasaki Heavy Industries Ltd.
6.1.8 Aviation Industry Corporation of China
6.1.9 MD Helicopters, Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia-Pacific Attack Helicopter Industry Segmentation
Military branches, including the Army, navy, and Air Force, utilize attack helicopters for various battlefield operations. These helicopters are armed with various weapons, such as automatic cannons, machine guns, anti-tank guided missiles, rockets, anti-ship missiles, and air-to-air missiles. Their main functions include countering armored vehicles, offering close-air support to ground troops, conducting armed reconnaissance, transporting light troops, and executing deep penetration missions.
The Asia-Pacific attack helicopter market is segmented based on platform and geography. By platform, the market is divided into the army, navy, and air force. The report also offers market size and forecasts for five countries across the region. For each segment, the market size is provided in terms of value (USD).
| End-User | |
| Army | |
| Navy | |
| Air Force |
| Geography | |
| China | |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific |
Asia-Pacific Attack Helicopter Market Research Faqs
How big is the Asia-Pacific Attack Helicopter Market?
The Asia-Pacific Attack Helicopter Market size is expected to reach USD 1.53 billion in 2024 and grow at a CAGR of 6.63% to reach USD 2.10 billion by 2029.
What is the current Asia-Pacific Attack Helicopter Market size?
In 2024, the Asia-Pacific Attack Helicopter Market size is expected to reach USD 1.53 billion.
Who are the key players in Asia-Pacific Attack Helicopter Market?
The Boeing Company, Rostec State Corporation, Airbus SE, Hindustan Aeronautics Limited and Leonardo S.p.A are the major companies operating in the Asia-Pacific Attack Helicopter Market.
What years does this Asia-Pacific Attack Helicopter Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Attack Helicopter Market size was estimated at USD 1.43 billion. The report covers the Asia-Pacific Attack Helicopter Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Attack Helicopter Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Attack Helicopter Industry Report
Statistics for the 2024 Asia Pacific Helicopter market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Helicopter analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Asia-Pacific Attack Helicopter Market Report Snapshots
