Page 15 - mro-business-today-15-09-2024

FEATURE

market with a 42.86% market share.
The region’s demand is predicted to
post a 3.97 percent CAGR. Being a
strong economic powerhouse, the North
American region will also see significant
replacement of aging helicopters in use
in all sectors, and this will further spurt
growth. Big ticket investments have
been made towards advanced MRO
services in Canada, however, the US
leads in the North American market. An
increase in adoption of civilian turbine-
powered helicopters in this region, will Image Courtesy : PH Aviation LLC
result in growth.

Europe
Europe is tipped to be the second- a market driver. The growth in the he- APAC. Additionally, the country will enter
largest helicopter sector. At a CAGR of licopter MRO market is fuelled largely the market for commercial helicopter
4.38 percent, the region market is pro- by the demand of these services in the production, as also collaborate with for-
jected to hit USD 3.22 billion by 2025. developing countries. eign and private manufacturers for the
Germany being a significant contributor same. This will create a sizeable oppor-
to the aerospace industry will add to Asia-Pacific Market tunity for the Chinese helicopter market
the overall growth and development, Asia-Pacific is expected to be the and helicopter MRO. All this is further
out here. Again, studies indicate the third-largest region. At a CAGR of 6.88 buoyed by the rising Chinese economy.
high investments made in R & D for the percent. Projections foresee a business The rapid growth of suppliers of
helicopter sector in Europe is growth that will touch USD 1.59 billion airframes and engines and the increas-
by 2025. China being one of the fastest ing number of helicopters in APAC have
growing countries globally, in aviation contributed to a robust growth in the de-
supply chain, holds second place in the mand for MRO services for helicopters.
burgeoning civil aviation industry in
Growing Technological Advancements
to Drive MEA market
The Middle East and Africa accounted
for the lowest market share, but their
share is projected to rise due to Kenya’s
steady development. This will include
creation of opportunities for Airbus
Helicopter MRO operations in Africa
and in areas of the Middle East. A twin-
engine helicopter contract for improved
airborne law enforcement capabilities,
and that of civil emergency, has also
been signed with the Kenya police.

Impact of Aviation Safety
In aviation Safety is a priority and
regulator mandates must be adhered
to stringently. Therefore, the sectoral
development will see growth and
expansion happening with caution. The
growth of helicopter MRO service pro-
viders too will be impacted by such laid
down guidelines that foster safety and
efficiency in operations first. Driving
growth are increase in offshore activi-
ties, use by law enforcement agencies,
search and rescue operations and
emergency evacuations. Tourism too

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