Based on application, the helicopter blades market is categorized into military and commercial. Increasing usage of helicopters by the defense and military owing to diversified applications offered by these aircraft including vertical landing & take-off operations along with lateral movement is boosting the market share over the study timeframe. The usage of helicopters for commercial applications including tourism and other service-related industries is playing a significant role in the business expansion over the projected timeframe.
The helicopter blades market based on location is segmented into main rotor and tail rotor. The blades will grow significantly owing to the increasing helicopter production across the globe. The incorporation of lightweight and rigid technologies into these blades for proper balancing of the helicopters along with varying sizes depending on the helicopter is further augmenting the industry growth till 2024.
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Advancements in technology including 3D printing and rapid prototyping are playing a major role in reducing the complexities related to the aircraft designing and contributing toward lowering the overall aircraft costs. Manufacturers are engaged in testing multiple materials including carbon fiber reinforced plastic for inducing high strength, flexibility, stiffness, and rigidity, further reducing fatigue on the blades and improving the life cycle significantly.
The proliferating usage of helicopters in the tourism sector is boosting the helicopter blades marketplace over the forecast period. The rising disposable income along with the proliferating tourism sector offering helicopter rides across major tourist locations is further supporting the industry proliferation till 2024. The usage of lightweight blades in the helicopters is increasing the overall aircraft efficiency, thereby enabling industry participants and airliners to recover their costs easily.
The emergence of on-demand air mobility services offering instantaneous helicopter services to customers with the usage of a mobile application is playing a major role in the helicopter blades market proliferation. For instance, Fly Blade, Inc. offers helicopter services across multiple cities with the provision to book flights through its website, providing a positive outlook for the industry proliferation.
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Based on distribution channel, the industry is classified into OEM and the MRO. The increasing investments by the aircraft manufacturers for developing lightweight and durable blades are driving the helicopter blades market share over the forecast timeframe. The requirement for periodic servicing and maintenance requirements over a period of definitive flight cycles are contributing toward the MRO expansion till 2024. Further, the replacement of parts owing to wear & tear along with stringent airworthiness compliance norms is further strengthening the helicopter blades market expansion over the study timeframe.
North America will contribute significantly toward the helicopter blades marketplace owing to the presence of multiple industry participants focusing on R&D to develop innovative lightweight helicopter blades for increasing flight efficiency and improving the performance considerably. Further, the usage of helicopters in commercial services including tourism along with other sectors is further augmenting the regional growth till 2024.
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A few players in the helicopter blades marketplace include Airbus S.A.S., Boeing, Robinson Helicopter Company, Lockheed Martin Corporation, Bell Helicopter Textron, Inc., Hindustan Aeronautics Limited, and Carson Helicopters, Inc. The industry participants are primarily engaged in joint ventures and partnerships for business diversification and improving their market share. For instance, in 2017, Airbus and Fly Blade, Inc. entered into a strategic partnership for offering premium on-demand helicopter flight experiences for urban air mobility solutions, providing a positive outlook for the industry expansion.
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