Global military rotorcraft market to be worth $28 billion by 2026
This represents a compound annual growth rate (CAGR) of 2.59% and a cumulatively value $254.2 billion according to the report entitled The Global Military Rotorcraft Market2016-2026. The market consists of four categories: multi-mission and maritime helicopter, attack helicopter, transport helicopter, and training helicopter. The market will be dominated by the multi-mission and maritime helicopter segment, which is expected to account for 44.6% of the market, followed by attack, transport, and training helicopters, with shares of 28.5%, 25.2%, and 1.7% respectively.
Countries in the Asia Pacific region are expected to account for the highest spending on rotorcraft globally, accounting for 34.2% of the market, followed by North America, which will account for 30.2%. China’s growing assertiveness in territorial disputes with its neighbours, an ongoing arms race among Asian countries, and strong economic growth are the primary drivers of the region’s rotorcraft market, which is forecast to grow at a CAGR of 3.41%, to reach US$8.8 billion by 2026. At the same time, the US is investing in advanced rotorcraft development programs to maintain its military supremacy over other countries, and is expected to drive the overall spending of North America, to US$76.8 billion cumulatively throughout the forecast period.
Europe, which is the third largest market, is emerging from an economic crisis and is thus expected to witness only marginal growth over the forecast period; the region is expected to account for 20.7% of the total market. The Middle East region is expected to be one of the fastest growing markets for rotorcraft over the forecast period, with a CAGR of 6.84%, due to the huge demand from various countries buoyed by strong economic growth and robust modernization plans. South American countries such as Brazil, Chile, Venezuela, and Colombia are also expected to modernize their fleets as they are locked in an arms race to establish military supremacy in the region. The market is expected to increase at a CAGR of 3.96% over the forecast period, cumulatively accounting for 2.9% of the total market. Demand in Africa is expected to grow moderately over the forecast period, with the region accounting for only 2.5% of the total market size.
Several countries across the world have inventories of obsolete or aging military helicopters that are reaching the end of their operational life; this means that despite budget cuts, the global military rotorcraft market is expected to grow over the forecast period. Countries such as Russia, the US, France, Germany, China, South Korea, and India are looking to replace existing military rotorcraft with modern helicopters, which in turn will boost the demand for the overall global market.
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