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Report
America Attack Helicopter - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019-2029
Market Report I 2024-02-17 I 85 Pages I Mordor Intelligence
The America Attack Helicopter Market size is estimated at USD 3.34 billion in 2024, and is expected to reach USD 4.08 billion by 2029, growing at a CAGR of 4.09% during the forecast period (2024-2029).
Key Highlights
-To gain air superiority and include ground troop support capabilities, the nations in the region are investing significant monetary resources in the form of defense expenditure to procure advanced helicopters. The deployment of attack helicopters by the United States and its NATO partner nations, such as Canada, to curb terrorism and humanitarian crises is propelling the growth of attack helicopters in the region. In challenging terrains, it becomes difficult for armored vehicles to provide adequate support to ground combat units. Attack helicopters provide high agility and firepower and become a defining lifesaving factor in combat-affected regions.
-Technological advancements such as stealth technology that produces low heat and sound signatures, autonomous capabilities, advanced electronic warfare upgrades, advanced optics, etc., will support the growth of the attack helicopter market.
America Attack Helicopter Market Trends
Airforce Platform Segment to Witness the Highest Growth During the Forecast Period
The close air support function of the airforce holds significant importance, particularly in its direct assistance of ground forces engaged in combat. Attack helicopters possess the capability to maneuver at low elevations and maintain a stationary position above-specified targets, thus allowing for the accurate and expeditious discharge of gunfire when necessary. This characteristic renders them well-suited for engagements pertaining to close-air support (CAS). As the notion of CAS endures as a pivotal concept within modern warfare, the Air Force is witnessing a growing demand for attack helicopters.
Various air forces in the American region are currently facing the problem of an aging fleet of existing helicopters. The relatively new Apache AH-64 has served the US for more than three decades and is expected to reach its full operational life between 2030 and 2040. Similarly, in December 2022, the Canadian Air Force announced that the country was planning to spend USD 1.24 billion to upgrade its fleet of military search-and-rescue helicopters, which will include modernizing its 13 existing helicopters and buying three new ones.
The United States to Dominate the Market During the Forecast Period
Competition in technology between China and the US is accelerating as both countries are increasingly focused on the R&D of emerging technologies to prepare for future warfare. In 2022, the US accounted for 39% of global defense spending. Military spending increased by USD 877 billion in 2022, or 0.7%. The total includes military assistance to Ukraine, estimated at USD 19.9 billion. In 2022, the US released the Department of the Air Force budget, which outlined that for FY 2023, the budget request is approximately USD 194.0 billion, a USD 20.2B or 11.7% increase from the FY 2022 request.
The US is heavily investing in upgrading its air dominance capability. Innovations are significantly driving the market growth for attack helicopters. In March 2023, Boeing announced that the US Army had awarded a contract to build new AH-64E Apache Guardian attack helicopters under a USD 1.95 billion four-year order. The new upgrade will give the AH-64E drone and ship-hunting capabilities. The advanced optronic and sight systems will increase the efficiency of reconnaissance operations.
Similarly, in October 2023, Sikorsky unveiled the RAIDER X Prototype for the US Army FARA Program. Raider X is developed on the existing S-97 Raider scout attack helicopter platform and has high agility and maneuverability. The FARA program is set to acquire the next generation of scout helicopters, which fills the role of the now-retired OH-58D Kiowa Warrior.
America Attack Helicopter Industry Overview
The attack helicopter market in America is consolidated with a few prominent players such as Boeing, Airbus SE, Lockheed Martin Corporation, and Textron Inc. The US holds a major share of the market due to an increase in demand on both domestic and global levels. Due to increased collaborations with markets such as Asia-Pacific, players such as Boeing have transferred some part of attack helicopter manufacturing to countries like India. Foreign manufacturers of attack helicopters are also eyeing the Latin American market. The revenue of the key players in the region largely depends on orders from the defense agencies and after-sale support and maintenance programs.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 End User
5.1.1 Army
5.1.2 Navy
5.1.3 Airforce
5.2 Geography
5.2.1 United States
5.2.2 Canada
5.2.3 Brazil
5.2.4 Mexico
5.2.5 Argentina
5.2.6 Rest of America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Lockheed Martin Corporation
6.1.2 The Boeing Company
6.1.3 Textron Inc.
6.1.4 Rostec
6.1.5 MD Helicopters Inc.
6.1.6 Leonardo SpA
6.1.7 Airbus SE
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