Helicopter Seating Market, (Type - Passenger and Crew; Application - V.I.P., Utility, Air Medical) - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2017 - 2025
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Major participants in the helicopter seating market include Martin-Baker Aircraft Co. Ltd., Rockwell Collins, Inc., Stelia Aerospace, Zodiac Aerospace, Oregon Aero, Inc., and UTC Aerospace Systems.
The helicopter seating market has a high entry barrier as far as capital requirements are concerned, due to the expensive nature of helicopter construction. But due to the widespread demand for helicopters in a rising number of sectors, commercial opportunities are likely to be easy to acquire in the helicopter seating market in the coming years.
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According to Transparency Market Research (TMR), the revenue of the global helicopter seating market was valued at US$1.7 bn in 2017 and is expected to rise to US$4.3 bn by the end of 2025. The helicopter seating market is likely to exhibit a robust 12% CAGR in the forecast period.
Geographically, North America and Europe are likely to remain the leading contributors to the global helicopter seating market in the coming years. North America is likely to account for close to US$1.5 bn in the global helicopter seating market by the end of 2025.
The rising number of high net worth individuals in developing countries in Asia Pacific and the Middle East is likely to be a crucial driver for the global helicopter seating market. The demand for VIP helicopter seating is likely to increase in the global helicopter seating market as a result, causing significant commercial impact on the market.
Booming Aviation Sector to Aid Adoption of Helicopters
The growth of the aviation sector in developed as well as developing countries in recent years has been a key driver for the global helicopter seating market. Rising participation by indigenous players is likely to remain crucial to the helicopter seating market’s growth in developing regions.
Government support to development of the aviation sector has also grown in recent years due to growing awareness of the utility of helicopters in several development initiatives, leading to growing demand from the helicopter seating market.
The increasing use of helicopters in the transportation and tourism sectors is likely to be a vital driver for the global helicopter seating market in the coming years. The diverse utility of helicopters has led to growing use in several countries for transportation to remote areas, whereas helicopters have become a key part of several global tourist attractions due to the high commercial potential of the industry.
The rising availability of advanced helicopter components in emerging regions such as Southeast Asia and the Middle East is likely to propel the global helicopter seating market at a robust rate in the coming years.
Growing Use of Helicopters for Healthcare Purposes Drives Helicopter Seating Market
The presence of several leading aerospace market players has bolstered the helicopter seating market in North America, as the regional market landscape is usually on top of the technological shifts in the helicopter seating industry. The growing incorporation of helicopters into the healthcare sector in developed countries in these regions is likely to remain a key driver for the global helicopter seating market.
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