Market Trends of GCC General Aviation Industry
Helicopter Segment To Exhibit The Highest Growth Rate During The Forecast Period
- Helicopters offer a safe, cost-effective, and convenient option for private and business travelers covering shorter distances. GCC countries have heavily invested in infrastructure development, focusing on urbanization and tourism projects. Helicopters are crucial in transportation, especially for short-distance travel between cities and remote areas. This expanding infrastructure is expected to increase the demand for helicopter services.
- For example, in November 2021, the Mohammed Bin Rashid Aerospace Hub, in partnership with Air Chateau International, inaugurated the largest-of-its-kind helicopter center in the United Arab Emirates. This center aims to facilitate transportation between business centers and tourist destinations nationwide. Similarly, in July 2021, Henley Air’s subsidiary, Rocket, successfully executed Helicopter Emergency Medical Services (HEMS) operations in the country. The company operates a mixed fleet of 5 Bell 222 aircraft and plans to add 3 Bell 230 aircraft.
- The increasing utilization of helicopters in industrial sectors, such as the energy sector, is propelling the growth of the general aviation helicopter market in the region. Additionally, the air ambulance industry in the market has witnessed a gradual increase in demand from the region. For instance, Turkey is the only country worldwide providing free air ambulance services for its citizens, both domestically and internationally. The government operates four airplanes and 17 helicopters as air ambulances and six marine ambulances, having served over 43,000 patients in the last ten years.
- All these instances and factors contribute significantly to the region's burgeoning market for general aviation helicopters.
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Saudi Arabia To Witness The Highest Growth Rate
- In 2023, Saudi Arabia experienced a remarkable 26% surge in air traffic and flight movements, reaching a staggering 403,000 flights by June. The country's concerted efforts to promote tourism, notably through initiatives like the Vision 2030 plan, have fueled growth in both the tourism and aviation sectors. These ongoing development plans and projects in the Kingdom are expected to benefit both industries significantly.
- The expanding opportunities have attracted various regional and global aviation and tour operators seeking to capitalize on the growing market of air travel catering to VIPs, business executives, and more. Saudi Arabia has witnessed a mounting demand for helicopter services across multiple economic sectors. This surge is notably driven by an increasing number of high-net-worth individuals (HNWI) who seek individual charter aircraft within the country.
- As of 2022, Saudi Arabia reported approximately 354,000 millionaires, indicating a rising trend in demand from this market segment. In August 2023, the Helicopter Company (THC), wholly owned by Saudi Arabia’s Public Investment Fund (PIF), revealed ambitious plans to revolutionize the Kingdom’s emergency medical services. THC operates 30 aircraft across 25 bases and aims to double its helicopter fleet to 60 within the next two years.
- The company's strategic vision includes providing 90% of all emergency medical services in Saudi Arabia and responding to road accidents and off-road emergencies using helicopters. This extensive fleet expansion strategy is poised to redefine the country's emergency medical services landscape.
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