Utility Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Utility Aircraft Market is segmented by Aircraft Type (Rotorcrafts (Light, Medium and Heavy) and Fixed Wings (Turboprop and Turboshaft)), Application Type (Military, Cargo, and Others), and Geography.

Utility Aircraft Market Size

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utility aircraft market
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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

 utility aircraft market forecast

*Disclaimer: Major Players sorted in no particular order

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Utility Aircraft Market Analysis

The Utility Aircraft Market is projected to grow with a CAGR of more than 4 % during the forecast period.

  • The primary factor driving growth for the market are military modernization programs and increased spending of several nations to enhance their aircraft fleets and replace old aircrafts, the increasing use of aircrafts in different fields like firefighting, agriculture, sports activities and others.
  • The advantage of using utility aircrafts are supporting its demand in the market, it can be used in different ways according to the situational demand, like transporting people, other supplies and the same aircraft can be used in place of big and heavy (specialized) aircraft when they are not availale or they are actually not required.
  • However, because of the ongoing pandemic COVID-19, the market is expected to witness slowdown till second half of the calendar year 2021 until things return to normal.

Utility Aircraft Market Trends

This section covers the major market trends shaping the Utility Aircraft Market according to our research experts:

Military Holds Largest Market Share

By application type, Utility aircraft are segmented into military, civil and commercial. The military segment held the largest market share in 2019 and is expected to dominate the market throughout the forecast period.

The developed nations as well as the developing nations are increasing their spending in enhancing the military technology and equipment. The developed nations are replacing their old aircraft fleet with the new advanced fleet to strengthen their military might and the developing nations like India are including new aircrafts as well as replacing old fleets to modernize their army and be prepared for any possible attacks from their adversaries.

For instance,

  • In December 2019, United States and Czech Republic entered into a contract of about USD 650 million which is for the sale of eight UH-1Y Venom utility helicopters with four AH-1Z Viper attack helicopters.
  • In February 2020, HAL received the initial operational clearance certificate from DRDO, at the 'Bandhan' program held at the DefExpo 2020 to replace the ageing fleet of Cheetah and Chetak helicopters.
 utility aircraft market analysis

Asia-Pacific Grows with Highest CAGR

During the year 2019, the Asia-Pacific region registered the highest market share globally and is expected to grow with the highest CAGR during the forecast period. Owing to the increased spending of the government in the region in defense sector to replace the old technology under the modernization program of the defense technology and other technological advancements in the economic conditions and activities in the region the Utility Aircraft Market in Asia-Pacific region is expected to dominate the global market.

For instance, in July 2019, the Indian Navy announced that they are planning to build 111 naval utility helicopters (NUH) in India under the strategic partnership model to replace its outdated fleet of French-designed Chetak choppers. US firm Lockheed Martin, European Airbus Helicopters and Russian Helicopters are eyeing the INR 21,738-crore project that involves manufacturing the choppers locally in partnership with Indian firms.

In October 2019, Harbin Aircraft Industry Group under the Aviation Industry Corporation of China (AVIC), has unveiled the Z-20 utility helicopter which includes advanced technologies like active vibration control, fly-by-wire, low-noise design for rotor and high-performance aerodynamic design of the rotor.

used aircraft market

Utility Aircraft Industry Overview

The Utility Aircraft Market is fragmented, with many players accounting for a small market share. Some of the prominent companies in Utility Aircraft Market are Bombardier Inc., Leonardo S.p.A., Bell, Airbus S.A.S. and Textron Inc. The players in the market are expanding their customerbase and entering in the market to gain the market share.

For instance, in June 2020, Helinet Aviation has announced addition of a UH-60 Black Hawk Helicopter to California's aerial firefighting fleet and with this they entered the utility aircraft market.

In January 2020, Rolls-Royce announced that they have added four new Helicopter customers in 2019 to its premier TotalCare engine servicing program. The addition of Collier Mosquito Control District, Life Flight Network, Red River Ranch, and Centaurium Aviation brings the total number of TotalCare helicopter customers to twenty-one.

In May 2020, MagniX and AeroTEC successfully tested all electric Cessna airplane in air for the first time. Cessna 208B Grand Caravan powered by MagniX's 750-horsepower Magni500 propulsion system. Cessna caravan is a utility aircraft which is most widely used and s known for its rugged utility and flexibility.

Utility Aircraft Market Leaders

  1. Bombardier Inc.

  2. Bell Textron

  3. Leonardo S.p.A.

  4. Airbus S.A.S.

  5. Textron Inc.

*Disclaimer: Major Players sorted in no particular order

Lockheed Martin, Airbus S.A.S., Bombardier Inc., Textron Inc., Hindustan Aeronautics Limited, Leonardo S.p.A., Bell Textron, Atlas Aircraft Corporation
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Utility Aircraft Market News

In September 2021, the Indian MoD awarded a USD 2.5 billion contract to Airbus for acquiring 56 C-295 aircraft as a potential replacement for its Avro HS-748 fleet.

In September 2021, Airbus Helicopters Inc delivered the first UH-72B, the latest variant of its Lakota helicopter, to the US Army National Guard from its production facility in Columbus, Mississippi.

Utility Aircraft Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Aircraft Type

      1. 5.1.1 Fixed Wings

        1. 5.1.1.1 Turboprop

        2. 5.1.1.2 Turboshaft

      2. 5.1.2 Rotorcrafts

        1. 5.1.2.1 Light

        2. 5.1.2.2 Medium

        3. 5.1.2.3 Heavy

    2. 5.2 Application Type

      1. 5.2.1 Military

      2. 5.2.2 Civil & Commercial

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 Qatar

        2. 5.3.4.2 United Arab Emirates

        3. 5.3.4.3 South Africa

        4. 5.3.4.4 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Lockheed Martin

      2. 6.2.2 Airbus S.A.S.

      3. 6.2.3 Bombardier Inc.

      4. 6.2.4 Textron Inc.

      5. 6.2.5 Hindustan Aeronautics Limited

      6. 6.2.6 Leonardo S.p.A.

      7. 6.2.7 Bell Textron

      8. 6.2.8 Atlas Aircraft Corporation

      9. 6.2.9 Changhe Aircraft Industries Corporation

      10. 6.2.10 Harbin Aircraft Industry Group

      11. 6.2.11 United Aircraft Corporation

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Utility Aircraft Industry Segmentation

The report provides a detailed understanding of Utility Aircraft demand and aircraft available in the market and the new launches planned by the major players. The latest developments and procurement of utility aircrafts used in the civil, commercial and military application.

Aircraft Type
Fixed Wings
Turboprop
Turboshaft
Rotorcrafts
Light
Medium
Heavy
Application Type
Military
Civil & Commercial
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Middle-East and Africa
Qatar
United Arab Emirates
South Africa
Rest of Middle-East and Africa
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Utility Aircraft Market Research FAQs

The Utility Aircraft Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Bombardier Inc., Bell Textron, Leonardo S.p.A., Airbus S.A.S. and Textron Inc. are the major companies operating in the Utility Aircraft Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Utility Aircraft Market.

The report covers the Utility Aircraft Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Utility Aircraft Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Utility Aircraft Industry Report

Statistics for the 2024 Utility Aircraft market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Utility Aircraft analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Utility Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)