A new report from consultancy Markets and Markets predicts a 6.1 percent annual growth rate for the world helicopter market between 2022 and 2027, forecasting a rise in total value to $41.2 billion from the current $31.9 billion in 2023. The consultancy cites several factors for the growth including increased demand for military helicopters, air ambulances, law enforcement aircraft, and increased transport needs for oil and gas operations. It also believes that the “development of unmanned helicopters, hybrid-electric propulsion systems, and advanced avionics” will create “significant market opportunities.”  

Other reasons for the growth include the replacement of aged military stock, expansion of emerging country economies and the enhancement of the national defenses, and the development of next-generation aircraft including tiltrotors and compound helicopters.

The report also notes various impediments to growth such as rising backlogs due to production limitations at major rotorcraft OEMs including Bell and Airbus. “Due to limited production capabilities, the OEMs fail to deliver the required helicopters within the expected timeline,” the authors noted. Other impediments include increasing fuel prices and the eventual potential for eVTOLs to displace helicopters, particularly in urban environments.