Helicopter Tourism Market Overview:
Helicopter tourism adds a different touch to tourism. It offers an aerial perspective that adds a sense of adventure and creates a dimension for the tourism industry. The global helicopter tourism market is expected to grow with 4.17% CAGR during the forecast period (2015-2023). Market Research Future’s (MRFR’s) Analysis of the global helicopter tourism market reveals several factors that can impact the global market in the coming years.
One of the major factors that is fetching revenues for the market is this constant endeavor to find out new tourist attractions to keep the tourism business alive. Due to rising disposable income this new type of opportunities is getting more tractions. At the same time, several merger and collaborations are expected to promote the market unprecedently. Significant decline in crude oil price is a significant marker of change as it is lowering the operational cost and curbing access price. However, it is still, to some extent, restricted to the urban areas. The global helicopter tourism market can exceed, as per MRFR predictions, USD 941.6 Million in terms of valuation by 2023.
Competitive Landscape:
Several companies are taking great interest in the helicopter tourism market and their participation is influencing strategic moves. These companies have been profiled by MRFR for a better analysis of the upcoming market, they are Leonardo – S.p.A (Italy), Russian Нelicopters JSC (Moscow), Airbus (Netherlands), Bell Helicopter Textron Inc (Texas), Enstrom Helicopter Corp (Michigan), Sikorsky (U.S), AVIC (China), Robinson Helicopter Company (California), MD HELICOPTERS, INC (Arizona) and Turkish Aerospace Industries Inc (Turkey). Their latest moves have been integrated for a better profiling of the market.
Extreme helicopter adventures are emerging as a part of helicopter tourism market. Recently, Four Seasons Resort Oahu at Ko Olina and Paradise Helicopters joined hands to provide an exclusive natural experience that would cover one of the world’s most active volcanoes in the island of Hawaii. Such steps are bound to create ample opportunities for the helicopter tourism expansion plans.
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Segmentation:
The global helicopter tourism market is segmented based on tourism type, ownership, and region. On the basis of tourism type, the market as segmented as customized tourism and general tourism. Customized Tourism accounted for the largest market share of 62.35% in 2016, with a market value of USD 444.1 million, and is projected to grow at the highest CAGR of 4.28% during the forecast period. The growth in tourism sector, has resulted in the growth of the economy. Many tourism companies are partnering with resorts and private helicopter companies in order to provide customized services to tourists. This will result in the increasing use of helicopters in tourism, which will indirectly result in the growth of the market. Based on ownership, the market is segmented as fractional ownership, charter service, and joint ownership agreements. Fractional Ownership accounted for the largest market share of 48.18% in 2016, with a market value of USD 343.2 million and is projected to grow at a CAGR of 4.08% during the forecast period.
Regional Analysis:
North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are the four major regions that have been included in the regional analysis of the helicopter tourism market. This would also help in better identification of the growth pockets based on demographic reading.
North America’s dominance in the global market is getting triggered primarily by the ability to afford luxury. The region shows huge clusters of people who are economically strong and look for adventure in their trips. At the same time, such service providers are great in number due to which the market is gaining prominence. Infrastructure is robust and is getting backed by innovative strategies due to which the growth has become much easier.
In Europe, the market is gaining good traction due to the growing number of partnerships between helicopter operators and resorts. However, the APAC region is yet to catch up with the leading ones. But high growth in tourism promises good growth.
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