Research Report with COVID-19 Forecasts-Global Helicopter Tourism Market 2020-2024 | Growing Popularity of Helicopter Travel to Boost Market Growth | Technavio
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View the full release here: https://www.businesswire.com/news/home/20200521005280/en/
The global helicopter tourism market size is expected to grow by USD 97.60 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced the latest market research report titled Global Helicopter Tourism Market 2020-2024 (Graphic: Business Wire)
Over the years, the travel and tourism industry has witnessed significant growth primarily due to the recovering economic conditions in a number of countries. Helicopter travel has also been gaining popularity over the last few years. Helicopters can be arranged for short-duration travel over historical monuments or religious places, with comfort and safety. For example, major cities/regions around the globe such as Chicago and New York in the US, Kuala Lumpur (Malaysia), Prague (Czech Republic), Rome (Italy), Paris (France), London (UK), Buenos Aires (Argentina), Istanbul (Turkey), Dubai (UAE), and Mumbai (India) offer helicopter tourism facilities to enable a better view of the city from the air. With growing popularity, helicopter tours are also increasingly being customized. Helicopter tour operators offer day-time, night-time, twilight, or private and short tours for customers in accordance with their preferences. These factors are expected to boost market growth during the forecast period.
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As per Technavio, the integration of big data with helicopter avionics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Helicopter Tourism Market: Integration of Big Data with Helicopter Avionics
An increasing number of passengers rely completely on the helicopter to navigate through harsh environments and for safe travel. With emerging tools of big data analysis, an entire helicopter fleet can be monitored simultaneously to identify potential safety risks and ensure a safer journey for passengers. For example, the analysis of the flight data generated during the production cycle of helicopter component helps in detecting the probable risks that could hamper the performance and cause malfunction. By harnessing big data, helicopter manufacturers can also develop innovative solutions and services in their helicopters to reduce fuel consumption, which accounts for one-third of the total operating cost. Thus, the integration of big data with helicopter avionics is expected to drive the growth of the market.
“Factors such as the increasing use of commercial helicopters, and the decline in global crude oil prices will have a significant impact on the growth of the helicopter tourism market value during the forecast period,” says a senior analyst at Technavio.
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Helicopter Tourism Market: Segmentation Analysis
This market research report segments the helicopter tourism market by type (general helicopter tourism and customized helicopter tourism) and geography (North America, Europe, APAC, MEA, and South America).
The North American region led the helicopter tourism market in 2019, followed by Europe, APAC, MEA, and South America respectively. However, during the forecast period, the European region is expected to register the highest incremental growth due to factors such as the growing tourism, reducing fuel prices, and favorable exchange rates.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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