This can be because of the improving economic situation in these countries. Other than this, the aviation industry is also growing in countries including the Philippines and Indonesia, where the demand for replacing aging fleet with new machinery.

At the present time, the demand for technological advanced helicopters has been increasing swiftly across the globe. A number of innovations have been made in the engine, airframe, and emission system of helicopters, thereby making them more resilient and sustainable.

Owing to this, the performance of helicopters has been enhanced as well. Moreover, the requirement for high-performance helicopters has been increasing from the oil gas industry. In the industry, helicopters are used for ferrying personnel between the offshore rigs and the land. As industries are growing, they are creating demand for more innovative helicopters, which is projected to lead to increased spending in the domain in the years to come.

Helicopters are of two types, namely civil helicopters and military helicopters, between which, the demand for military helicopters has been higher in the past. Helicopters are primarily used in the military and defense sector for a number of applications, such as light utility, search rescue, maritime, reconnaissance, medium utility, heavy cargo, and attack. The demand for attack helicopters has been the highest in the past, however, the demand for medium utility helicopters is also projected to rise in the years to come.

Light helicopter, medium helicopter, and heavy helicopter are the three types of military helicopters. Medium utility helicopters are projected to be in high demand in the near future, owing to the rising demand for multi-mission helicopters in several emerging economies. Apart from all this, the demand for civil helicopters is also expected to increase considerably during the forecast period due to the increasing offshore oil gas exploration production activities. The different types of civil helicopters are large heavy helicopter, medium helicopter, light helicopter, and intermediate helicopter.

The requirement for light helicopters is predicted to be the highest in the coming years. Geographically, North America emerged as the largest helicopter market in the past, owing to the rising investments in the industry for developing helicopters with improved functionalities. Moreover, the demand for helicopters is also growing from the oil gas industries in the region. Other than this, Latin America is also projected to create high demand for helicopters in the coming years.

In conclusion, technological advancements, high demand for emerging economies, and increasing requirement from oil gas industry are driving the market.