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.webp)
*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.
