Helicopter Engines Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 24.26 Billion |
| Market Size (2029) | USD 29.75 Billion |
| CAGR (2024 - 2029) | 4.16 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Helicopter Engines Market Analysis
The Helicopter Engines Market size is estimated at USD 24.26 billion in 2024, and is expected to reach USD 29.75 billion by 2029, growing at a CAGR of 4.16% during the forecast period (2024-2029).
- The comprehensive portfolio of applications renders them essential for the military and commercial end-users, thereby driving the demand and subsequent procurement of helicopters from both the military and commercial aviation sectors. Moreover, defense modernization programs also drive the R&D for advanced helicopters and compatible engines.
- Nevertheless, the helicopter engine market is marred by associated high acquisition costs and technical complexities such as maintenance and regulatory challenges related to noise pollution and safety. The emerging emission norms for the aviation sector are anticipated to result in profound changes in the design and architecture of current-generation helicopter engines in the future as the engine OEMs focus on the development of high-performance engines with minimal carbon emissions.
Helicopter Engines Market Trends
Military Helicopters 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 (VTOL) 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.
- For instance, in May 2023, GE Aviation and NAVAIR were awarded a contract worth USD 683.7 million for three additional batches of T408 engines that will power the Sikorsky CH-53K King StallionTM, which serves as the primary heavy-lift helicopter for the US Marine Corps (USMC). The final assembly of these engines is planned at the GE Aerospace Lynn, Massachusetts, facility, and delivery is anticipated to occur between 2024 and 2027.
North America to Dominate Market Share During the Forecast Period
- North America is anticipated to dominate the market share due to the presence of robust aviation R&D and manufacturing infrastructure in the region. The market also benefits from the presence of aviation incumbents in the region and the demand for helicopters from the end-users based in both the US and Canada. Currently, the US operates the largest helicopter 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, are anticipated to drive the market for helicopter engines in the future. Moreover, the steady increase in the defense budget of the US and the initiation of new helicopter R&D programs such as the Future Long-Range Assault Aircraft (FLRAA) program are also driving the growth of the helicopter engine market in the region.
Helicopter Engines Industry Overview
The helicopter engines market is semi-consolidated and marked by the presence of prominent players including Safran, Pratt & Whitney (RTX Corporation), General Electric Company, Rolls-Royce plc, and Honeywell International Inc. Efforts are being made by the existing players to increase the efficiency and time between overhauls of the engines, which may help them 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 indigenous helicopter engines. As the relatively new players are capturing the market share, established players, to maintain their market dominance, need to expand in the untapped markets and increase their product innovation through significant R&D investments.
For instance, in March 2021, Honeywell was awarded a four-year indefinite delivery indefinite quantity (IDIQ) contract worth USD 476 million to Honeywell for new production and spare T55-GA-714A engines that power the U.S. Army's CH-47 Chinook helicopters.
Helicopter Engines Market Leaders
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General Electric Company
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Rolls-Royce plc
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Safran
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Pratt & Whitney (RTX Corporation)
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Honeywell International Inc.
*Disclaimer: Major Players sorted in no particular order
Helicopter Engines Market News
January 2023: Yellowhead Helicopters awarded Safran Helicopter Engines a long-term Maintenance, Repair, and Overhaul (MRO) services contract covering 21 engines to support Arriel engine-powered AS350 and H125 fleets in North America. Through the Support-By-the-Hour (SBH®) contract, Safran will support Yellowhead Helicopters in its mission for the forestry, mining, oil and gas, utility, and tourism industries.
November 2022: The Helicopter and Jet Company (THC) awarded Safran Helicopter Engines a long-term Maintenance, Repair, and Overhaul (MRO) services contract covering more than 60 engines for its fleet of H160, H125, and H145 fleet powered by Safran's Arrano and Arriel engines. The Helicopter and Jet Company currently operates a fleet of 30 helicopters offering a wide range of commercial services in the Kingdom of Saudi Arabia, including emergency medical service (EMS), aerial work, private charter, aerial photography and filming, and tourism.
Helicopter Engines Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
-
4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 By Application
- 5.1.1 Commercial Helicopters
- 5.1.2 Military Helicopters
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5.2 By Type
- 5.2.1 Piston Engine
- 5.2.2 Turbine Engine
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Russia
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 South Korea
- 5.3.3.5 Australia
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Latin America
- 5.3.4.1 Brazil
- 5.3.4.2 Mexico
- 5.3.4.3 Rest of Latin America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 United Arab Emirates
- 5.3.5.2 Saudi Arabia
- 5.3.5.3 Egypt
- 5.3.5.4 South Africa
- 5.3.5.5 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles
- 6.2.1 Rolls-Royce plc
- 6.2.2 Bell Textron Inc.
- 6.2.3 Pratt & Whitney (RTX Corporation)
- 6.2.4 Safran
- 6.2.5 General Electric Company
- 6.2.6 Honeywell International Inc.
- 6.2.7 Hindustan Aeronautics Limited (HAL)
- 6.2.8 MTU Aero Engines AG
- 6.2.9 Avco Corporation
- 6.2.10 IHI Corporation
- 6.2.11 Kawasaki Heavy Industries, Ltd.
- 6.2.12 Mitsubishi Heavy Industries, Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityHelicopter Engines Industry Segmentation
Helicopters are used for passenger transport, tourism, and emergency medical services that constitute a significant portion of the market. Helicopters play a crucial role in defense operations, including troop transport, reconnaissance, search and rescue, and combat missions. Helicopters equipped for aerial firefighting purposes have recently gained importance due to the increasing frequency and severity of wildfires.
The helicopter engine market is segmented by application, type, and geography. The helicopter engine market is segmented by application into commercial helicopters and military helicopters. By type, the market is segmented into piston engines and turbine engines. The report also covers the market sizes and forecasts for the helicopter engines market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
| By Application | Commercial Helicopters | |
| Military Helicopters | ||
| By Type | Piston Engine | |
| Turbine Engine | ||
| Geography | North America | United States |
| Canada | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Russia | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| South Korea | ||
| Australia | ||
| Rest of Asia-Pacific | ||
| Geography | Latin America | Brazil |
| Mexico | ||
| Rest of Latin America | ||
| Geography | Middle-East and Africa | United Arab Emirates |
| Saudi Arabia | ||
| Egypt | ||
| South Africa | ||
| Rest of Middle-East and Africa |
Helicopter Engines Market Research FAQs
How big is the Helicopter Engines Market?
The Helicopter Engines Market size is expected to reach USD 24.26 billion in 2024 and grow at a CAGR of 4.16% to reach USD 29.75 billion by 2029.
What is the current Helicopter Engines Market size?
In 2024, the Helicopter Engines Market size is expected to reach USD 24.26 billion.
Who are the key players in Helicopter Engines Market?
General Electric Company, Rolls-Royce plc, Safran, Pratt & Whitney (RTX Corporation) and Honeywell International Inc. are the major companies operating in the Helicopter Engines Market.
Which is the fastest growing region in Helicopter Engines Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Helicopter Engines Market?
In 2024, the North America accounts for the largest market share in Helicopter Engines Market.
What years does this Helicopter Engines Market cover, and what was the market size in 2023?
In 2023, the Helicopter Engines Market size was estimated at USD 23.25 billion. The report covers the Helicopter Engines Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Helicopter Engines Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Helicopter Engines Industry Report
Statistics for the 2024 Helicopter Engines market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Helicopter Engines analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
