Helicopter Engines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Helicopter Engines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The helicopter engines market is expected to register a CAGR of over 3%, during the forecast period (2020 – 2025).

Increase in the demand for helicopters for various military and commercial applications is the main driver for the market. Procurements are being done on a large scale in the military for rotorcraft. Additionally, the helicopters find their use in many applications nowadays, even in the commercial sector.

The necessity for enhancing the helicopter engine performance has become one of the main areas of concentration for the helicopter manufacturers, as fuel economy is also one of the main factors that reduce the operating costs of the helicopters. This is likely to make way for the manufacturers to produce more efficient new generation helicopter engines in the future.

Key Market TrendsMilitary Helicopters Segment is Expected to Dominate the Market During the Forecast Period

• By application, the military helicopter engines segment holds the maximum revenue share, followed by commercial helicopter engines. The advantages offered by the helicopters in the military, like quick response in transporting personnel and cargo for frontline support, their vertical take-off and landing capabilities (which eliminates the requirement of long runways), and the ability to be deployed in almost any open area in cases of emergency assistance, increase their utilitarian value in the military.
• Thus, the usage of helicopters is more in the military compared to commercial applications, hence, the market for military helicopter engines is expected to increase. The military helicopter engines segment is also expected to continue its dominance in the market, during the forecast period.

Asia-Pacific is Expected to be the Fastest Growing Market for Helicopter Engines in the Forecast Period

• Globally, North America holds the highest market share in the helicopter engines market, with the United States being the major market for the helicopter engines. The demand from the United States is likely to continue, thereby, becoming the driving factor for the helicopter engines market during the forecast period.
• Currently, the United States is having the largest helicopters fleet in the world, with more than 9,000 commercial helicopters in the country alone. The aftermarket and maintenance services, along with the need to replace parts of the engines for these helicopters, may drive the market for the helicopter engines in the future.
• The huge budgets of the United States toward military are enabling the procurement of new helicopters by the US military. This may also drive the production of new helicopter engines by the engine suppliers for these helicopters. Thus, the demand from the United States is expected to drive the share of the North American helicopter engines market, during the forecast period.
• However, the market in Asia Pacific is expected to register the highest CAGR, during the forecast period. Currently, India is taking the deliveries of Chinook and Apache helicopters. Moreover, China is ordering new helicopters from various foreign OEMs, in addition to its indigenously manufactured helicopters. Australia is also expected to procure helicopters for commercial and law enforcement purposes in the future. All these factors are expected to increase the growth of the market studied in the region, during the forecast period.

Competitive Landscape

• Safran SA, United Technologies Corporation, General Electric Company, Rolls-Royce Holding PLC, and United Technologies Corporation are some of the major players in the market. Efforts are being made by the existing players for increasing the efficiency and time between overhaul of the engines, which may help them to grab new contracts with the helicopter OEMs.
• In the military sector, many local manufacturers are trying to produce new generation indigenous turboshaft engines for their military helicopters. For example, Turkey and India are developing their own indigenous helicopter engines. As the relatively new players are capturing the market share, established players, in order to maintain their market dominance, need to expand in the untapped markets and increase their product innovation through significant R&D investments.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Safran SA
United Technologies Corporation
General Electric Company
Rolls
Royce Holding PLC
Honeywell International Inc.
Hindustan Aeronautics Limited
Turkish Aerospace Industries

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