The helicopter MRO market share in Asia Pacific is constantly growing owing to rising income levels in the region. The demand for helicopters in the region, especially in southeastern countries, is growing. The demand for helicopters for commercial and military applications is growing significantly in countries such as Thailand, Singapore, Malaysia, Indonesia, and others which is contributing to the helicopter MRO market growth. One of the notable commercial applications is growing offshore energy production activities in Southeast Asian countries, which has increased in the past few years owing to the rising demand for energy.
As per the data published in the American Journal of Transportation in 2023, southeast Asia's renewable energy investments are expected to surpass US$ 76 billion by 2025. Thus, the demand for helicopters is projected to increase, ultimately driving the demand for helicopter MRO market. In June 2023, Korea Aerospace Industries Co. signed a preliminary agreement with Vietnam's Viettel Aerospace Institute to collaborate in the development and production of helicopters, which is likely to pave the stage for KAI's entry into Southeast Asia's aircraft industry. Thus, continuously growing demand for helicopters in commercial and military applications in Southeast Asia is expected to generate lucrative opportunities for the helicopter MRO market in Asia Pacific during the forecast period.
Key Findings of Market Study:
Electrification of the fleet is rising in the transportation sector owing to growing awareness of sustainability, with no exception for the global helicopter MRO market. According to Airbus, hybrid-electric helicopters can reduce aircraft CO2 by 10%. Thus, many helicopter manufacturers focus on research and development activities to develop hybrid and electric helicopters. In September 2021, Airbus Helicopters began flight testing of its new engine backup system (EBS) in collaboration with the French Civil Aviation Authority. The initiative paved the way for a future hybridized propulsion solution for light helicopters while also bringing development in helicopter MRO market.
In April 2021, Leonardo Helicopters announced its plans to develop a hybrid-electric-powered light helicopter that might be available in the second half of this decade. In March 2023, Sikorsky and GE Aerospace announced their plans to build a completely autonomous hybrid-electric vertical take-off and landing (VTOL) demonstrator that could be commercialized in 2026. Thus, the growing hybrid-electric helicopters adoption is anticipated to offer lucrative opportunities for the helicopter MRO market growth.
In January 2023, Arc Aerosystem announced the development of a hybrid slowed-rotor aircraft with an 800-mile range. Further, in October 2023, the US Air Force received an all-electric helicopter for experimental purposes. The Air Force and Joby Aviation, an aircraft manufacturer, will conduct joint testing to investigate the military possibilities. The Joby aircraft, with a range of up to 100 miles, plus energy reserves and a top speed of 200 mph, can transport a pilot and four passengers fast and quietly while emitting zero operating emissions. Development activities are expected to generate demand and increase the adoption of hybrid and electric helicopters in the coming years. Thus, the helicopter MRO market growth is expected to rise in the coming years owing to the complexity and delicacy of hybrid and electric helicopters.
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