Story ID: 370
Brisk Growth Seen for Heavy Lifters
By: Mark Huber
Caption: Demand for heavy lift helicopters will continue through the next decade
Word Count: 191
The heavy lift helicopter market is expected to more than double, posting an almost 9 percent annual growth over the next decade, and reach $10.79 billion by 2032. That’s the conclusion of Allied Market Research (AMR) in a recent report.
The report breaks down the heavy lift helicopter market by industrial sector and region. Aerial firefighting is forecast to post the highest compound annual growth rate (CAGR) at 10.6 percent. AMR said “heightened concerns over wildfires caused by climate change, urbanization, and land management practices” have resulted in “increased investment in aerial firefighting resources” to bolster wildfire prevention, detection, and suppression.
Asia-Pacific will be the hottest region, with a predicted CAGR of 10.1 percent. The report notes that countries in the region “are investing heavily in infrastructure projects such as transportation networks, energy facilities, and urban development.” Forty percent of the market will be in load capacities of 10,000 to 20,000 pounds. Overall, North America will continue to account for more than 40 percent of heavy lift revenues.
More than two-thirds of the market overall remains committed to infrastructure development such as bridge construction, power line installation, and urban development.