Market Trends of Search and Rescue Aircraft Industry
This section covers the major market trends shaping the Search & Rescue Aircraft Market according to our research experts:
Rotary Wing Segment Is Expected To Lead The Market During The Forecast Period.
Rotary wing aircraft can land vertically anywhere which is why Rotary wing aircraft are very useful for Rescue purposes. With global temperatures rising, the world is expected to witness an increasing occurrence of wildfires in the next twenty years, generating a more important requirement for search and rescue and aerial firefighting activities. Thus, end-users like service-providing companies are expected to spend increasingly more money on rescue aircraft, especially rotary-wing aircraft. Also, climate change has influenced the prevalence of natural disasters over the years. The frequency and intensity of natural disasters are also increasing each year, which might increase the need for search and rescue helicopters in the future.
On the other hand, as roads become more congested, the need for quicker aerial transport is expected to increase, increasing the spending on Helicopter Emergency Medical Services, particularly in developing countries in the years to come. After the advent of the pandemic, investment in the healthcare domain has grown during the COVID-19 situation, which has also increased the usage and demand for Air Ambulance Services for emergency medical services. Helicopters can cater to these requirements as they can be operated without a paved runway and can take off and land at the nearest incident location, thereby reducing the response and travel times. These factors are driving the demand for rotary-wing aircraft for the applications mentioned above.
Asia Pacific is Expected to Lead the Market During the Forecast Period
In terms of geography, Asia Pacific is projected to grow at the fastest pace as the major countries in the region are increasing their investment in internal security and service. As this sector is developing at a high rate in all economies in the region as there is vast potential for growth in the market studied.
The Population and density of the Asian country are large compared to other countries, In an emergency, aircraft rescue is always a good and feasible way to company an emergency operation. Most Asian countries are procuring rescue aircraft, For instance
In March 2022, The prime minister-led Cabinet Committee on Security (CCS) on Wednesday approved the procurement of 15 indigenously developed Light Combat Helicopters (LCH) for Rs 3,887 crore. The defense ministry said 10 helicopters will be for the Indian Air Force and five will be for the Indian Army. These helicopters are also being used in search and rescue activity which comes under NDRF (National Disaster Response Force).
In May 2022, South Korea signed a contract worth 170 billion won (USD 132.8 million) with United States aerospace firm, Bell Textron Asia to purchase some 40 trainer helicopters by 2025. These helicopters will be used to train and operate them for various requirements increasing the effectiveness of the crew and first responding agency.
Considering the procurement plans in the Asia region, it is expected that the market will grow at a faster pace in the coming year.
