Market Size of Air Crane Helicopter Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 4.00 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Air Crane Helicopter Market Analysis
The Air-Crane Helicopter Market is expected to grow at a CAGR of 4% over the forecast period. Air Crane Helicopter Market is highly sensitive to global economic conditions and their subsequent impact on levels of capital investment and consumer spending. Factors such as economic downturns and global pandemics can lead to reduced investments, changes in government spending levels, reduce customers' and suppliers' access to credit, hamper consumer confidence, and increase buyers' propensity for cheaper substitutes in certain applications.
This was evident in the last two years when the world witnessed the impact of the COVID-19 pandemic, which has increased economic constraints, and decreased industrial output. Consequently, the demand for Air-Crane Helicopter from the associated sectors has also declined. With the increase in population, road traffics become more congested, and the need for quicker aerial transport is expected to increase.
With the growing demand for oil and gas, and the saturation of onshore oilfields, there has been growth in offshore exploration and production (E&P) activities. In several existing basins, the production from old wells has started to decline, and there is little scope for new discovery in such areas. As a result, the oil and gas industry is shifting toward deeper regions in search of oil and gas, to meet the increasing demand. This is expected to increase the number of offshore rigs in the years to come, thereby driving the demand for offshore Air-Crane Helicopter Market. With the increasing investment and spending in the defense segment, the air-crane helicopter market is expected to grow in the coming year.
Air Crane Helicopter Industry Segmentation
An aerial crane or flying crane is a helicopter used to lift heavy or awkward loads. As aerial cranes, helicopters carry loads connected to long cables or slings in order to place heavy equipment when other methods are not available or economically feasible, or when the job must be accomplished in remote or inaccessible areas, such as the tops of tall buildings or the top of a hill or mountain, far from the nearest road.
The Aircrane helicopter market is segmented by By Endurance, By Load Capacity, By End User, and By geography. By endurance, the market is segmented into Up to 5000 Feet, Up to 10000 Feet. By load capacity, the market is segmented into Up to 3000 Pounds, Up to 6000 Pounds, Up to 12000 Pounds, and Up to 15000 Pounds. By End-user, the market is segmented into Civil, Commercial, and Military. By geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
By Endurance | |
Up to 5000 Feet | |
Up to 10000 Feet |
By Load Capacity | |
Up to 3000 Pounds | |
Up to 6000 Pounds | |
Up to 12000 Pounds | |
Up to 15000 Pounds |
By End User | |
Civil | |
Commercial | |
Military |
Geography | ||||||||
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Air Crane Helicopter Market Size Summary
The air crane helicopter market is poised for growth, driven by increasing demand in sectors such as oil and gas, defense, and offshore wind energy. The market's expansion is influenced by the global shift towards deeper offshore exploration and production activities, as onshore oilfields mature and new discoveries become scarce. This shift is expected to boost the number of offshore rigs, thereby enhancing the demand for air crane helicopters used in offshore operations. Additionally, the rising deployment of offshore wind turbines, particularly in regions like Europe, necessitates efficient transportation solutions for crew members, further propelling the market. The market's growth trajectory is also supported by investments in defense and air service activities, particularly in the Asia Pacific region, where countries like Japan and India are increasing their offshore drilling and defense expenditures.
Despite its growth potential, the air crane helicopter market remains sensitive to global economic conditions, which can impact capital investment and consumer spending. Economic downturns and global events, such as the COVID-19 pandemic, have previously led to reduced demand and investment in the sector. However, the market is moderately consolidated, with key players like Airbus Helicopters S.A.S., HAL Ltd., and Lockheed Martin Corporation actively participating in the market. These companies are continuously innovating and upgrading their offerings, such as Erickson's enhancements to the S-64 Air-Crane helicopter, to meet the evolving needs of various industries. As countries invest in air crane helicopters for their operational benefits, the market is expected to witness steady growth over the forecast period.
Air Crane Helicopter Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porters Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Endurance
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2.1.1 Up to 5000 Feet
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2.1.2 Up to 10000 Feet
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2.2 By Load Capacity
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2.2.1 Up to 3000 Pounds
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2.2.2 Up to 6000 Pounds
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2.2.3 Up to 12000 Pounds
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2.2.4 Up to 15000 Pounds
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2.3 By End User
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2.3.1 Civil
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2.3.2 Commercial
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2.3.3 Military
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Russia
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia Pacific
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2.4.3.1 India
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2.4.3.2 China
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2.4.3.3 Japan
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2.4.3.4 South Korea
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2.4.3.5 Rest of Asia Pacific
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2.4.4 Latin America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.5 Middle East & Africa
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2.4.5.1 United Arab Emirates
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2.4.5.2 Saudi Arabia
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2.4.5.3 Rest of Middle East & Africa
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Air Crane Helicopter Market Size FAQs
What is the current Air Crane Helicopter Market size?
The Air Crane Helicopter Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Air Crane Helicopter Market?
Textron Aviation Inc, Aircrane, Inc., HAL Ltd., Lockheed Martin Corporation and Airbus Helicopters S.A.S. are the major companies operating in the Air Crane Helicopter Market.