Economic Meltdown Slowed Orders To A Crawl, Made Financing
Difficult
The civilian rotorcraft market is expected to remain diverse
with the bulk of all new deliveries arriving from mature production
lines, according to a new report by aviation analyst Frost &
Sullivan. he report indicates that the industry witnessed
unprecedented growth in the global sales of civil rotorcraft from
2004 through 2008. However, as 2008 ended, the economic slowdown
saw rotorcraft utilization and new orders decrease significantly
and financing became increasingly difficult.
In its latest study of the world commercial helicopter market,
the company finds that the market is expected to grow from 24,625
helicopters in 2009 to 36,946 helicopters in 2015.
"The markets in the United States felt the heat more than those
in Western Europe and Asia, which had remained comparatively
stable," says Frost & Sullivan Industry Analyst Nathan K.
Smith. "Over the next five years, it is estimated that up to 22
percent of total world new rotorcraft sales will be to customers in
Asia Pacific, Africa, and the Middle East."
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The study finds that rotorcraft financing remains a deterrent to
new purchases, but this is easing as the economy moves in a
positive direction. Factors such as government regulation, tight
lending standards, stricter evaluations of applicant, and the
proliferation of interest rates have made it increasingly difficult
to secure loans.
There is a major shortage of qualified pilots available in a
field that is slated to grow as much as 60 percent in the next ten
years, according to the report. Most of the existing professionals
are retiring and there is short supply of pilots from the military.
With a booming oil industry, offshore companies are facing a near
critical shortage of rotorcraft pilots, which has led to an
increase in demand for them. The lack of qualified rotorcraft
maintenance technicians is further complicating matters.
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Aside from this, difficulties exist in obtaining rotorcraft
parts and components, and locating these can become a
time-consuming process. The inability to meet the demand for
certain spare parts has impeded maintenance programs.
Frost & Sullivan finds that, with competition on the rise,
industry participants are intensifying the focus on innovation and
technology to obtain the cutting edge. Manufacturers are rolling
out a diverse array of rotorcraft to meet customer demands.
"Safety, efficiency and the environment continue to be top
priorities in the rotorcraft domain," says Smith. "Increased speed
and reduced noise are also vital aspects to be considered in the
development of rotorcraft in the future."
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In the new product lines, participants are introducing
safety-enhancing technologies, including new methods of health and
usage monitoring, improved situational awareness tools,
workload-reducing automatic flight control systems, and
maintenance-saving vibration reduction packages, the report says.
Manufacturers such as AgustaWestland are also investing in advanced
technologies as product differentiators. A key goal has been to
develop technologies for providing jet-like smoothness in
helicopters with active vibration control of structural
response.