Helicopter Meteorological Software Market is expected to gain momentum from the constant developments in the aviation sector. These Software solutions are being demanded immensely because of their increasing usage in a large number of applications, such as oil & gas, search & rescue, and emergency medical services (EMS).
Fortune Business Insights™ in a newly published study, titled, “Helicopter Meteorological Software Market Size, Share & COVID-19 Impact Analysis, By Platform (Helicopter and Heliports/Helipads), Application (Emergency Medical Services, Corporate Services, Search & Rescue, Oil & Gas, Homeland Security, Transportation, Others), Offering (Electronic Flight Display (EFD) Software, Application Based Software, PC/Desktop Software, Mobile Software), End Use (Private Operator, Fleet Operator) and Regional Forecasts, 2020-2030.” The study further mentions that the market size was USD 86.4 million in 2019 and is projected to reach USD 117.2 million by 2030, exhibiting a CAGR of 4.68% during the forecast period.
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Drivers & Restraints
Rising Demand for Real-time Data Tracking to Favor Growth
The rising demand for helicopters for several applications, such as transportation, EMS, and others is one of the major Helicopter Meteorological Software market growth drivers. Helicopter operations often require real-time atmospheric data, namely, weather forecast, wind speed, and temperature to prevent accidents. Also, the Federal Aviation Administration (FAA) has started implementing multiple stringent safety norms to avoid helicopter accidents.
Additionally, real-time data tracking helps the pilot in taking decisions efficiently during the entire flight. Hence, the increasing requirement of real-time software solutions would propel the market growth in the near future. However, the COVID-19 pandemic has caused flight suspensions because of complete lockdown measures across the globe.
Helicopter Segment to Dominate Backed by Their High Demand for Multiple Applications
Based on platform, the market is segregated into heliports/helipads and helicopter. Out of these, the helicopter segment is dominated in 2019 in terms of the market share. This growth is attributable to their high demand for numerous commercial and military applications. Helicopter Meteorological Software solutions would help in providing vital data for weather forecasting and monitoring.
North America to Lead Stoked by Presence of Several Software Manufacturers
In 2019, North America generated USD 32.6 million in terms of revenue and is expected to lead the market throughout the forthcoming years. This growth is attributable to the presence of a large number of prominent Helicopter Meteorological Software manufacturers, such as Collins Aerospace, DTN, NavBlue Inc., and ForeFlight LLC in this region. Europe, on the other hand, is set to showcase an astonishing growth in the coming years. Germany, the U.K., and France house several helicopter operators, which, in turn, would propel growth in this region.
Key Players Focus on Acquisition Strategy to Intensify Competition
The market consists of many large, small, and medium enterprises. Most of them are engaging in mergers and acquisitions to combine their technologies, thereby developing state-of-the-art Helicopter Meteorological Software.
List of the Leading Companies Profiled in the Global Helicopter Meteorological Software Market are:
Below are two of the important industry developments:
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