Market Trends of Helicopter Blades Industry
Military Helicopters Segment is Projected to Show Significant Growth During the Forecast Period
- The military helicopters segment will showcase significant growth in the helicopter blades market during the forecast period. The growth is due to increasing procurement of advanced military helicopters and rising defense expenditure. In 2021, there were more than 19,946 combat helicopters listed in military inventories across the globe.
- The changing nature of warfare and the need for tactical mobility have increased the demand for helicopters. The ongoing helicopter projects can be seen as a positive step in the direction of military helicopter development. A military helicopter is a tactical platform that has evolved impressively over the years and has proved itself to be useful on the battlefield.
- Also, the need to replace aging helicopters has propelled the demand for newer-generation helicopters. For instance, in August 2021, Sikorsky, a subsidiary of Lockheed Martin Corporation, signed a five-year contract with the US Army Contracting Command to maintain and overhaul the main rotor blade of Black Hawk helicopters for the US Army. The value of the contract was USD 116.5 million. Increasing orders will further propel the demand for helicopter parts and components, including main and tail rotor blades.
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Asia-Pacific to Experience the Highest Growth During the Forecast Period
- Asia-Pacific is anticipated to show the highest growth in the helicopter blades market during the forecast period. The growth is due to the increasing use of helicopters for various commercial and military applications such as aerial firefighting, aerial photography, search and rescue, crew transportation, surveillance, and others. Airbus, a key supplier of rotorcraft in the region, stated that more than 2,000 Airbus helicopters operate across the region. On this note, the regional helicopter fleet stood at 4,193 units at the end of 2022.
- Helicopters have emerged as a preferred mode for point-to-point travel, especially in an urban scenario. This has led to the rapid growth of helicopter charter services, wherein several charter operators have placed orders for procuring new helicopters as part of their fleet modernization programs.
- The demand for helicopters is very high in China due to their critical use in air medical services, emergency response teams, search and rescue (SAR), and firefighting operations. Since helicopters in the region are scheduled to operate in a diversified climate, the helicopter blades may be exposed to several weather anomalies, resulting in potential strain and damage to the blades.
- Hence, aftermarket and maintenance services would be required to ensure the airworthiness of the helicopter fleet. Hence, on account of the diversified plethora of applications that a helicopter can be used for, and the associated maintenance activities, the market in focus in Asia-Pacific is anticipated to witness higher growth during the forecast period.
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