Market Trends of Helicopter Engines Industry
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.
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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.
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