The Global Military Rotorcraft Market is expected to reach a value US$26.9 Billion by 2027
LONDON, June 14, 2017 /PRNewswire/ -- Highlights
· Rapidly changing global security scenario and the growing importance of unconventional missions and urban warfare have resulted in change of roles for helicopters in the modern warfare strategies.
· Unlike their traditional roles, rotorcrafts are being used as part of the comprehensive mission parameters, which calls for integration of advanced and multiple capabilities in rotorcrafts.
· Global military rotorcraft market is expected to value US$17.9 Billion in 2017, and grow at a CAGR of 4.14%, to value US$26.9 Billion by 2027.
· The cumulative global expenditure on military rotorcraft over the forecast period (2017-2027) is estimated at US$235.1 Billion.
· The demand for rotorcraft is expected to be driven by the need to replace aging fleets and enhance capabilities pertaining to disaster relief operations.
· Asia Pacific region is expected to account for the highest spending on rotorcraft globally, accounting for 37.2% of the market, followed by North America, which will account for 30.5%.
· China's growing assertiveness in territorial disputes with its neighbors, an ongoing arms race among Asian countries, and strong economic growth are the primary drivers of the region's rotorcraft market, which is forecast to grow at a CAGR of 3.91%, to reach US$9.7 Billion by 2027.
Summary
Rapidly changing global security scenario and the growing importance of unconventional missions and urban warfare have resulted in change of roles for helicopters in the modern warfare strategies. Unlike their traditional roles, rotorcrafts are being used as part of the comprehensive mission parameters, which calls for integration of advanced and multiple capabilities in rotorcrafts.
Global military rotorcraft market is expected to value US$17.9 Billion in 2017, and grow at a CAGR of 4.14%, to value US$26.9 Billion by 2027. The cumulative global expenditure on military rotorcraft over the forecast period (2017-2027) is estimated at US$235.1 Billion. The demand for rotorcraft is expected to be driven by the need to replace aging fleets and enhance capabilities pertaining to disaster relief operations.
Furthermore, Military rotorcraft is being increasingly utilized in various types of operation such as patrolling, combat and peacekeeping. For example, in Afghanistan, Iraq, Libya, and Sudan military rotorcrafts were actively used for peacekeeping operations. They also play vital role in troop transportation, search and rescue, and reconnaissance roles.
The recent killing of Abu Sayyaf in 2015, who was one of the high level operatives of ISIS, possibly using an attack variant of UH-60 Black Hawk helicopter has proven rotorcraft's role to be pivotal in military operations worldwide; governments are therefore taking note and reassessing their efficacy. Moreover, in 2010, the Pentagon invested twice as much of its US$808 million aviation science and technology budget on improving turbine engines than it did on all rotorcraft science and technology, and two and a half times as much on fixed-wing aircraft.
Asia Pacific region is expected to account for the highest spending on rotorcraft globally, accounting for 37.2% of the market, followed by North America, which will account for 30.5%. China's growing assertiveness in territorial disputes with its neighbors, an ongoing arms race among Asian countries, and strong economic growth are the primary drivers of the region's rotorcraft market, which is forecast to grow at a CAGR of 3.91%, to reach US$9.7 Billion by 2027.
Europe, which is the third largest market, is emerging from an economic crisis and is thus expected to witness only marginal growth over the forecast period; the region is expected to account for 17.1% of the total market. The Middle East region is expected to be one of the fastest growing markets for rotorcraft over the forecast period, with a CAGR of 5.37%, due to the huge demand from various countries buoyed by strong economic growth and robust modernization plans.
The report "The Global Military Rotorcraft Market 2017-2027" offers detailed analysis of the Global Military Rotorcraft Market over the next 10 years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing demand for military rotorcraft.
In particular, it provides an in-depth analysis of the following -
- Overview: Snapshot of the military rotorcraft market during 2017-2027, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments.
- Market Dynamics: Insights into the technological developments in the military rotorcraft market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants.
- Segment Analysis: Insights into the military rotorcraft market from a segmental perspective and a detailed analysis of factors influencing the market for each sector.
- Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region.
- Regional Analysis: Insights into the military rotorcraft market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Trend Analysis - Key Defense Market: Analysis of the key markets in each region, providing an analysis of the military rotorcraft segments expected to be in demand in each region.
- Key Program Analysis: Details of the top programs in each segment expected to be executed during the forecast period.
- Competitive landscape analysis: Analysis of competitive landscape of the global military rotorcraft industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis.
Companies mentioned in this report: The Boeing Company, Bell Helcopters, Sikorsky, Leonardo-Finmeccanica, Changhe Aircraft Industries, Hindustan Aeronautics Limited (HAL), Airbus Defence and Space, Embraer, Lockheed Martin Corporation, Korean Aerospace Industries, Russian Helicopters, MD Helicopters, Turkish Aerospace Industries, Enstrom Helicopters, Rolls-Royce, Helibras.
Download the full report: https://www.reportbuyer.com/product/2836633/
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