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The Asia-Pacific Military Helicopters Market is poised to grow at a CAGR of over 3% during the forecast period, (2022-2027).
The impact of the COVID-19 pandemic on the military helicopter market in Asia-Pacific is low. Even during the peak of the COVID-19 pandemic, the defense spending of the region continued to rise, driven by the geopolitical tensions and territorial disputes among the neighboring countries in the region. This has continued to fuel the growth of the military helicopter market in the region.
Several countries are modernizing their aging fleet of military helicopters, by replacing older helicopters with newer generation helicopters. On the other hand, several countries in the region, including China, India, Japan, and South Korea are now focusing on the indigenous development and manufacturing of military helicopters, which is expected to drive the growth of the market in the region in the years to come.
Scope of the Report
The study includes all types of manned rotorcraft (or helicopters) used for military purposes. By type, the market is segmented into attack helicopters, transport helicopters, and multi-mission and training helicopters. The multi-mission helicopters include utility helicopters, reconnaissance helicopters, and maritime helicopters, among others. In addition to procurement, the scope of the study also modification and upgrades as well as maintenance, repair, and overhaul of military helicopters. The report also covers the market sizes and forecasts for the market in major countries in the Asia-pacific region. The market sizing and forecasts have been provided in value (USD million).
|Multi-mission and training helicopters|
|Rest of Asia-Pacific|
Key Market Trends
Attack Helicopters Segment is Expected to Grow With the Highest CAGR During the Forecast Period
The attack helicopter segment is expected to grow with the highest CAGR during the forecast period. Attack helicopters can provide direct close air support for ground troops and can also be used for anti-tank roles, to destroy enemy armor. Several countries in the region are developing new attack helicopters for their armed forces. For instance, in April 2021, South Korea’s Defense Acquisition Program Administration (DAPA) announced that the country is planning to develop an indigenous attack helicopter to meet a Republic of Korea Marine Corps (RoKMC) requirement for 20–24 such rotorcraft. The rotorcraft aims to enhance the service’s amphibious assault capabilities, particularly in the north-western islands near the inter-Korean border, by providing aerial fire support, among other things. Countries are also procuring new attack helicopters to enhance the capabilities of their armed forces. In March 2022, India's Cabinet Committee on Security (CCS) approved the procurement of 15 Light Combat Helicopters (LCH) for INR 3,887 crore (USD 500 million). Likewise, in 2021, Australia selected Boeing’s AH-64E Apache Guardian as its next armed helicopter, replacing its Airbus Helicopters Tiger fleet under the Land 4503 program estimated to be worth AUD 4-5 billion (USD 3–4 billion). The RFI called for 29 helicopters and also stipulated an initial operational capability, represented by 12 helicopters, in 2026; and final operational capability with all 29 aircraft two years later. Such procurements and the replacement of older models will propel the growth of this segment in the region in the years to come.
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China Held the Largest Market Share in 2021
Due to increasing tensions with its neighboring countries, China is currently enhancing its aerial lifting and ground support capabilities. The People's Liberation Army (PLA) has increased the operation of helicopters on the border near Eastern Ladakh in the last two years. Due to this, the country is inducting as many as 500 helicopters produced in Russia. While Russia has delivered over 200 of the helicopters by the end of 2021, the remaining units will be handed over in the next 3-4 years. They are of three variants, including Mi-171E, Mi-17SH, and Mi-171LT. China also plans to procure stealth helicopters for attack purposes, from Russia. Such large procurements of military helicopters are driving the growth of the market in the country. On the other hand, the country is working on acquisitions of indigenously manufactured helicopters and decreasing the total number of helicopters imported into its fleet. Over the past year, the PLA has unveiled various advanced helicopters, such as Z-20 medium-lift utility helicopters and upgraded Z-10 attack helicopters, which are expected to be inducted in the coming years. China also plans to develop new helicopters that will be substantially different from the usual configuration of earlier helicopters imported and manufactured in the country. In May 2022, China announced that it has completed the first flight of an 'innovative' new helicopter design, hinting at FVL-type technology developments for the long term. Such developments are expected to bolster the market prospects of the country during the forecast period.
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Hindustan Aeronautics Limited, Aviation Industry Corporation of China, The Boeing Company, Lockheed Martin Corporation, and Rostec are some of the major players in the Asia-Pacific Military Helicopters Market. Although players from Europe and North America dominated the helicopter market over the years, the growth in focus on indigenous manufacturing of military helicopters has started to drive the market presence and share of the local manufacturers in countries like China, India, Japan, and South Korea, among others. Countries are also venturing into new business segments that are not previously ventured, by developing new helicopter models. For instance, in 2021, India unveiled plans for the development of the Indian Multi-Role Helicopter (IMRH), a 10 to 13-tonne medium-lift helicopter. The groundwork to produce the helicopter has been started by Hindustan Aeronautics Limited (HAL). The project will substitute imports of more than INR 4 Lakh Crore (USD 50 billion) worth of military helicopters for the three services in the coming years and also provides significant export potential. Such developments are expected to drive the growth of the market in the years to come.
In May 2022, the government of Australia announced that it will acquire 12 new MH-60R Romeo maritime helicopters and 29 AH-64E Apache Armed Reconnaissance helicopters for its army and navy. The aircraft deliveries will start in 2025 and will cost a combined total of more than AUD 8 billion (USD 5.5 Billion).
In February 2022, the Philippines signed a USD 624 million deal to purchase 32 Black Hawk helicopters in the largest military aircraft acquisition contract of the country in recent years. The acquisition of the S-70i Black Hawks will allow the air force to retire its aging Bell UH-1 helicopters, which were used during the Vietnam War.
Table of Contents
1.1 Study Assumptions and Market Definition
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 (Market Size and Forecast by Value - USD million, 2018 - 2027)
5.1.1 Attack helicopters
5.1.2 Transport helicopters
5.1.3 Multi-mission and training helicopters
5.2.4 South Korea
5.2.6 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Lockheed Martin Corporation
6.1.2 The Boeing Company
6.1.3 Textron Inc.
6.1.4 Airbus SE
6.1.6 Hindustan Aeronautics Limited
6.1.7 Aviation Industry Corporation of China
6.1.8 Leonardo S.p.A.
6.1.9 Kawasaki Heavy Industries
6.1.10 Korea Aerospace Industries
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Asia-Pacific Military Helicopters Market market is studied from 2018 - 2027.
What is the growth rate of Asia-Pacific Military Helicopters Market?
The Asia-Pacific Military Helicopters Market is growing at a CAGR of >3% over the next 5 years.
Who are the key players in Asia-Pacific Military Helicopters Market?
Hindustan Aeronautics Limited, Aviation Industry Corporation of China, The Boeing Company, Lockheed Martin Corporation, Rostec are the major companies operating in Asia-Pacific Military Helicopters Market.