EUROPE MILITARY HELICOPTERS MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The market for military helicopters in Europe is anticipated to grow at a CAGR of 15.91%. An increase in military conflict, terrorism, border conflicts, territory breach, and violation are driving the demand for rotorcraft. The regional armed forces are also enhancing the capabilities of helicopters with cutting-edge technology to acquire a military advantage over the adversary. 

The region as a whole is being encouraged to spend at least 2% of their GDP, which is a NATO benchmark, on their military due to the ongoing tensions between Russia and Ukraine. As a result, the nations are choosing to buy cutting-edge helicopters to effectively repel threats.

In Europe, there are now 3,363 helicopters in use. Russia has the most helicopters in the area, with 1,632 helicopter operating troops. Following Russia, France and Italy each have operational fleets of 478 and 435 helicopters. The highest CAGR is anticipated for multi-mission helicopters during the projection period. Helicopters with dual missions can be employed for anti-tank operations to destroy enemy armour as well as close air support for ground troops. The biggest percentage of the region's operational helicopter fleet belongs to multi-mission helicopters (38%), which are followed by other and transport helicopters (32% and 30%, respectively). 

Europe spent USD 418 billion on its military in 2021, a 10% increase from 2020. The majority of the increase in defence spending in Europe was driven by acquisitions of weapons and military R&D. In response to Russia's invasion of Ukraine in February 2022, many European NATO members declared plans to increase military spending by the end of March 2022, seeking to meet or exceed the NATO spending target of 2% of GDP or higher.

Major Players: Airbus SE, BAE Systems, Leonardo S.p.A, MD Helicopters LLC. and Russian Helicopters 

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