(MENAFN Editorial) DUBLIN, Dec. 11, 2017 /PRNewswire/ --
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The helicopters market is estimated to be USD 26.93 Billion in 2017 and is projected to reach USD 30.69 Billion by 2022, at a CAGR of 2.65% from 2017 to 2022. Increasing demand for EMS (emergency medical services) in regions, such as North America, Asia Pacific, the Middle East, and Africa and the growing demand for military helicopters due to replacement as well as capability expansion programs worldwide are factors expected to drive the helicopters market during the forecast period.The global helicopters market is expected to witness positive growth, especially in emerging economies, such as China, Brazil, and India. These countries are spending a huge amount on the development of their civil and military helicopter fleet. The economy of these countries has also been witnessing significant growth over the past few years. The increasing demand for helicopters in emerging economies will, in turn, drive the helicopters market during the forecast period. Territorial disputes in Asia have also compelled governments of the region to increase their defense spending. This increased defense spending is expected to positively reflect on the procurement of military helicopters, especially in China and India.
By application, the military segment dominates the helicopters market. In addition to missions in the defense sector, military helicopters are used for medevac and emergency rescue services.Companies operating in the helicopters market are focusing on acquiring business contracts. This strategy was adopted by key players to enhance their market penetration and increase their service offerings in the helicopters market globally.
Defense budget cuts in developed nations, high cost associated with new technology, and stringent regulatory norms for helicopter manufacturing and development are some of the factors restraining the growth of the helicopters market. Key Topics Covered:
Laura Wood, Senior Manager
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SOURCE Research and Markets
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