Global Military Helicopters Market Size 2024, Forecast To 2033

11 Mar, 2024

The military helicopters market has experienced strong growth, elevating its size from $59.69 billion in 2023 to $63.65 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.6%. This growth in the historic period is linked to increasing military expenditure, rising demand for lightweight helicopters, the demand for attack and transport helicopters, and low-interest rates. Moving forward to 2028, the market is expected to see strong growth, projected to reach $77.9 billion at a decreased CAGR of 5.2%. Contributing factors to this growth include an increase in territorial and political conflicts, rapid advances in technology, and increasingly advanced military helicopters. Key trends in the forecast period involve implementing technological advancements and developments such as dynamics modeling and fly-by-wire controls into lightweight helicopter products, integrating IoT systems to stay competitive in the market, implementing artificial intelligence technology into products, considering 3D printing technology for manufacturing lightweight parts at low costs, adopting single-engine operative mode for helicopters to reduce noise and fuel emissions, implementing autonomous systems for a fully upgraded autonomous function, and considering partnerships or collaborations with smaller companies to save costs and improve helicopter maintenance.

Global Military Helicopters Market Key Driver

Increasing military expenditure contributed to the growth of the military helicopter market growth. For instance, in April 2022, according to the Stockholm International Peace Research Institute (SIPRI), a Sweden-based international research institute on arms control, arms transfers and non-proliferation, in 2021, total global military spending was expected to increase by 0.7% in real terms to $2113 billion. This was the seventh year in a row that spending increased. Military R&D funding in the United States increased by 24% between 2012 and 2021, while China, the world's second-largest spender, allocated an estimated $293 billion to its military in 2021, a 4.7% increase over 2020. China's military spending has increased for the past 27 years. The growth in military expenditure led to an increase in the procurement of warships, submarines, aircraft, and helicopters, thereby generating higher revenues for the military helicopter market. In 2023, the surge in military expenditure positively impacts the military helicopter market, and by 2024, the market continues to benefit from increased spending on defense. Looking forward to 2028, the market size is anticipated to showcase sustained growth, reflecting the ongoing rise in global military expenditure.

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Global Military Helicopters Market Segments

The military helicopters market covered in this report is segmented –
1) By Type: Light Military Helicopter, Medium Military Helicopter, Heavy Military Helicopter
2) By Component & System: Main Rotor Systems, Electrical Systems, Hydraulic Systems, Avionics, Flight Control Systems, Undercarriages, Protection Systems, Other Component & Systems
3) By Number of Engines: Single, Twin Engine
4) By Application: Utility Military Helicopter, Transport Military Helicopter, Attack/Assault Military Helicopter, Search and Rescue Military Helicopter, Multi-Role Military Helicopter, Reconnaissance and Observation Military Helicopter
By Geography:The regions covered in the military helicopters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain Asia-Pacific was the largest region in the military helicopters market in 2023. Western Europe is expected to be the fastest-growing region in the global military helicopters market share during the forecast period. The regions covered in the military helicopters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Major Military Helicopters Industry Players

The Boeing Company, Airbus, Russian Helicopters, Lockheed Martin, Leonardo SpA, China Aerospace Science and Industry Corporation, Textron Inc., Raytheon Technologies, BAE Systems, Hindustan Aeronautics Limited, Changhe Aircraft Industries Corporation, Shenyang Aircraft Corporation, TATA Advanced Systems, Korea Aerospace Industries, Kawasaki Aerospace Company, Subaru Corporation, Mitsubishi Electric, Dassault Aviation, NHIndustries, Kazan Helicopters, Enstrom Helicopter Corporation, CHC Helicopter, StandardAero, MD Helicopters, Inc., Kaman Aircraft, Robinson Helicopter Company, Bombardier Inc., De Havilland, Northrop Grumman, McDonnell Douglas, Spirit AeroSystems, General Dynamics, Cicaré S.A., Embraer S.A., Empresa Nacional de Aeronautica (ENAER), Calidus LLC, Israel Aerospace Industries, Bearing Man Group (Pty) Ltd, Menzies Aviation (Handling) (Pty) Ltd, Denel Aerostructures (Pty) Ltd, Precision Aviation Helicopters (Pty) Ltd, Stellair cc

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Military Helicopters Market Overview

A military aircraft is an aircraft specifically built or converted for military missions such as transport of troops, combat search and rescue (CSAR), medical evacuation (MEDEVAC), airborne command post, or armed with weapons for attacking ground targets.

Military Helicopters Global Market Report 2023 provides data on the global military helicopters market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The military helicopters market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.