Helicopter MRO Market is projected to grow USD 12.34 Billion at a CAGR 4.55% by during the forecast period.
Increased use of commercial helicopters and expansion in the outsourcing of MRO services are poised to fuel industry growth. The rising demand for civil helicopters is the key factor driving the development of the MRO industry for civil helicopters. Many of this demand can be due to factors such as the rise of offshore activity, expanded use by law enforcement authorities, search and rescue activities, and medical emergency evacuation. This rise in demand for civil helicopters will foster the need for MRO services, which in turn will foster growth opportunities in the market for MRO civil helicopter services over the projected period.
The growing amount of helicopter deliveries and demand for helicopters in developing countries are driving the growth of the global Helicopter MRO market share .
During the forecast era, the increased use of composites would fuel opportunities for growth in this sector. In helicopters, composites play a crucial role as they are used to design seats, doors for the engine bay, and the fuselage. Increased resilience, corrosion resistive properties, chemical inertness, great fatigue, ease of processing, high strength-to – weight ratio, design durability, and lower component count factors such as its high-cost performance would improve its acceptance during the review period.
Strict government regulations are, however, likely to curtail demand expansion.
The Helicopter MRO Market has been analysed based on application, helicopter type, type, and region.
By type, the market has been classified as airframe heavy maintenance, engine maintenance, component maintenance, and line maintenance.
Based on helicopter type the market has been segmented into medium helicopter (3.1–9.0 tons), light helicopter (<3.1 tons), and heavy helicopter (>9.0 tons). The application segments of the market are civil and military.
By application, the market has been bifurcated as civil and military.
According to Helicopter MRO market competitive landscape the key players are Airbus SAS (Netherlands), Heli-One (Canada), Honeywell International Inc. (US), Leonardo SpA (Italy), MTU Aero Engines AG (Germany), Rolls-Royce Holdings PLC (UK), Safran SA (France), StandardAero (US), Textron Inc. (US), and United Technologies Corporation (US).
The Helicopter MRO Market has been segmented, by region, into North America, Europe, Asia-Pacific, and the Middle East & Africa, and Latin America.
North America is expected to be the largest market for helicopter MRO. The Helicopter MRO market in North America is expected to register a CAGR of 3.97% during the forecast period. North America dominated the global Helicopter MRO Market in 2018 due to the presence of major players, such as Honeywell International Inc., StandardAero, Textron Inc., and United Technologies Corporation. North America has the highest number of MRO facilities for both civil and military helicopters in the world. Although there have been investments in the development of advanced MRO services in Canada, the North American market is largely dominated by the US. Moreover, owing to this region’s growing adoption of civilian turbine-powered helicopters. Also, the Americas’ high economic stability will foster the substitution of aging aircraft that are involved in various sectors such as tourism, offshore activities, search, and rescue missions. This growing substitution of aging aircraft will impel the prospects for market growth in the Americas.
Europe is projected to be the second-largest market during the review period. The regional market is expected to reach USD 3,221.3 Million by 2025 at a CAGR of 4.38% during the forecast period. Asia-Pacific is projected to be the third-largest market during the review period. The regional market is expected to reach USD 1,597.1 Million by 2025 at a CAGR of 6.88% during the forecast period.
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