Report : Helicopter tourism Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Tourism Type (General Tourism and Customized Tourism) and Ownership Type (Fractional Ownership and Charter Service)
Widening Scope in the Emerging Economies Contributes Significantly to Helicopter Tourism Market Growth
According to our latest study on “Helicopter Tourism Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Tourism Type and Ownership Type,” the market was valued at US$ 745 million in 2020 and it is projected to reach US$ 1,014.9 million by 2028; it is expected to grow at a CAGR of 4.4% from 2021 to 2028.
Many scenic destinations in the developing economies are becoming popular helicopter tourism destinations. For instance, Nepal is leveraging the helicopter tourism potential over the Himalayan ranges and the Mt. Everest range. Nepal Helicopter tours offer helicopter tourism services for Simikot Trek, Dolpo Trek, and to sightsee hidden valleys in Nepal Himalayas. Further, India’s Goa Tourism Development Corporation (GTDC) planned to have a helipad for heli-tours. The work on the same is expected to be completed by May 2020. It is anticipated that the introduction of helicopter rides will be adding another attraction to the adventure tourism portfolio of the state. The activity will turn into a major attraction for the tourists as the rides will offer to get a sky-view of Goa with the help of various circuits of the heli-tours. Similarly, in March 2020, Karnataka state government has announced to build helicopter terminal in Mysuru along with three other districts of the state namely, Bengaluru, Belagavi, and Kalaburagi. The terminals will be used for heli-ride at surrounded tourist destinations. It will also connect neighboring states to attract more tourist and boost the state tourism business in upcoming years. Such initiatives are anticipated to be opportunistic for the growth of the helicopter tourism market. Further, the emergence and of heli-taxis is projected to further drive the growth of the helicopter tourism market.
North America held the largest share of the helicopter tourism market in 2020, followed by Europe and APAC, respectively. Further, APAC is projected to witness the highest CAGR in the market during the forecast period. Based on tourism type, the helicopter tourism market is segmented into general tourism and customized tourism. The customized tourism segment held a larger market share in 2020. Based on ownership type, the helicopter tourism market is segmented into fractional ownership and charter service. The fractional ownership segment dominated the market in 2020.
Impact of COVID-19 Pandemic on Helicopter Tourism Market
The COVID-19 pandemic has been affecting every business globally since December 2019. The continuous growth in the number of virus-infected patients compelled governments to put a restriction on transportation of goods and humans’ movement. The tourism sector witnessed severe losses due to travelling restrictions imposed by several country’s government across the world, which led drastic fall in number of visitors at tourist places. According to latest situation report from the World Health Organization (WHO), the major tourism countries such as the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, India, and China are some of the worst affected due to COVID-19 outbreak. Additionally, the social or physical distancing measures imposed by governments have put limitations on the social gathering at tourist destinations. These adversities led to the reduction in the business volume of helicopter tourism market.
Accretion Aviation; Bird's Eye View Helicopters LLC; Liberty helicopter; Cape Town Helicopters; Helicopter Flight Services, Inc.; Maverick Aviation Group; Papillon Grand Canyon Helicopters; Zip Aviation; Heli Chicago; and Lisbon Helicopters are among the major companies operating in the helicopter tourism market.
Helicopter Tourism Market - by Region
The report segments the helicopter tourism market as follows:
Helicopter Tourism Market – By Tourism Type
Helicopter Tourism Market – By Ownership Type
Helicopter Tourism Market – By Region