Increasing demand for helicopters in various applications and technological advancements in blade design and development, like the 3D printing, are some of the important factors driving the growth of the helicopter blades market
August 10th, 2018: The helicopter blades market is expected to reach over USD 1.4 billion by 2023, as per a new report published by Mordor Intelligence, LLP. According to the report, the market is expected to expand at a CAGR of around 3.5% over the forecast period.
Continuous growth in the usage of helicopters in both commercial and military applications and the development of newer technologies in helicopter blade design are anticipated to impact the growth of the market during the forecast period. In 2015, Automated Dynamics utilized Stratasys FDM-based (Fused deposition modeling) 3D printing to manufacture helicopter blade prototypes. The company said that this process will reduce tooling costs by 60-70%. Thus the emergence of newer technologies will reduce the overall manufacturing costs and will increase the profit margin for the manufacturers.
The market is currently dominated by the military sector, owing to the aggressive procurement of military helicopters by various armies around the world. Even during the forecast period, the market is expected to obtain a higher revenue from the military segment. Helicopters, by virtue of their vertical takeoff and landing capabilities, are now used for many applications in military, illustrating their importance in the sector. Out of all the regions, North America is currently having a large market share and is anticipated to lead the market during the forecast period. The higher share of North America is due to the presence of a large demand from the United States, both in the commercial and military sectors.
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Key Insights from the Report:
Helicopter blade market segmentation based on application and geography.
Helicopter Blades Market, Segmented by Application
Helicopter Blades Market, Segmented by Geography
Middle East & Africa
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