Market Trends of Europe Helicopters Industry
This section covers the major market trends shaping the Europe Helicopters Market according to our research experts:
Military Helicopters to Exhibit the Highest Growth Rate
Factors, such as increased defense spending by prominent economies such as the United Kingdom, France, Germany, and Russia, military tensions in Eastern Europe, the presence of major aircraft manufacturers in the region, etc. are propelling the growth of the market in Europe. France, in February 2020, confirmed its procurement plan for CH-47F heavy-lift helicopters for its Air Force. France will also roll out the budget proposal for the up-gradation package of the fleet of Airbus H225M Caracal helicopters. Czech Republic is also planning to sign a USD 630 million deal with the US government for procurement of 8 multi-purpose and 4 attack helicopters from Bell. Germany is also planning to acquire more than 60 units of Airbus H145M helicopters from 2021 for its Army, Navy, and Air Force for battle utility and training purpose. Boeing and Sikorsky also bid for the German Air Force's requirement of heavy-lift helicopters and presented Chinook and Stallion helicopters, respectively. The order will be placed during late 2020 or early 2021 and the delivery is scheduled to be completed by 2030. Such procurement plans will propel the growth of the helicopter market in Europe during the forecast period.
Helicopters Market in Russia will Witness Significant Growth During the Forecast Period
Russia has the highest defense budget in the European region and a significant portion of the budget is dedicated to new aircraft and helicopter development. Russia is also a prominent exporter of defense equipment and generates heavy revenue through its worldwide sale of helicopter. Russian manufacturers are also collaborating with other major European manufacturers to expand their existing product lines of helicopters. Russian Helicopters, a subsidiary of ROSTEC, developed a new version of MI-8MTShVN helicopter with upgraded systems and the rotorcraft will be used for special operations. Russia is also investing in new manufacturing technology, such as 3D printing. In 2020, Russian Helicopters will re-engineer 30 different parts of helicopters and integrate their existing manufacturing processes with 3D engineering techniques to produce new parts with additive manufacturing techniques. These parts made of composites will be used to manufacture tail and main rotor assemblies of rotorcrafts under the Advanced Commercial Helicopter (ACH) initiative. The aforementioned factors are propelling the market growth for helicopters in Russia.
