(MENAFN- America News Hour) The attack helicopter market
is anticipated to grow at a CAGR of above 4% during the forecast period.
– The increasing military spending fuelled by the growth of political and geographical tensions between the countries has led to an increase in procurement in countries like India, Kuwait, Qatar, Australia, Russia, and United Arab Emirates among others to strengthen their combat capabilities. This is acting as a major driver for attack helicopter market.
– Also, the fleet modernization plans of the countries with new and advanced attack helicopters is anticipated to support the growth of the market during the forecast period.
– The growth in partnerships between the local and global players for decreasing manufacturing costs and improving their delivery rate is expected to further boost the growth of the market during the forecast period.

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Key Market Trends
Above 8 metric ton (16,000 lbs) Segment to Experience the Highest Growth During the Forecast Period

Above 8 metric ton (16,000 lbs) segment in the attack helicopter market is expected to grow at the highest CAGR during the forecast period. The growing demand for helicopters like Kamov Ka-50, Mil Mi-28, Mi-35, Bell AH-1Z Viper, and Boeing AH-64 Apache among others will propel the growth of the segment during the forecast period. The United States provided a five-year, USD 3.4 billion contract to Boeing for 268 AH-64E (24 new and 244 remanufactured) helicopters in March 2017, while Russia plans to procure more than 100 Ka-52 helicopters by end of 2019 along with procurement of Mi-28N, Mi-17, and Mi-26 to further expand its combat helicopter fleet. Also, Turkey plans to indigenously manufacture heavy attack helicopters which will further support the growth of this segment in the coming years.
Asia-Pacific Region is Expected to Generate the Highest Demand During the Forecast Period

Asia-Pacific region is expected to generate the highest demand for attack helicopters during the forecast period. The growth in this region is majorly due to the increasing geographical tensions between the countries, which is boosting the growth in military spending to increase their border protection. For this, the counties are procuring new helicopters and modernizing their fleet of attack helicopters to strengthen their combat capabilities. For instance, in July 2019, Australian Department of Defence issued a request for information (RFI) for a future acquisition plan of about 29 attack helicopters to replace 22 Tiger Airbus Helicopters of the Australian Army. The deliveries of the helicopters are planned in the mid-2020s. Additionally, India has 22 AH-64 Apache helicopter on order and received the first helicopter in May 2019. The order for 22 attack helicopters was placed in September 2015. With such procurement plans underway, the growth of the market is expected to be highest during the forecast period.

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Competitive Landscape
The prominent players in the attack helicopter market are Russian Helicopters, The Boeing Company, Lockheed Martin Corporation, Airbus SE, and Textron Inc. The major companies are partnering with the local companies to decrease their manufacturing costs and improve their delivery rate. For instance, The Boeing Company and Tata Advanced Systems Ltd. formed a joint venture called Tata Boeing Aerospace Limited (TBAL) for the manufacturing of Apache helicopters in India. TBAL opened a more than 14,000-square meters facility for the production of fuselages for AH-64 Apache helicopter in March 2018. Such growing emphasis on the indigenous development of attack helicopters is anticipated to support the local manufacturing companies and increase their market presence in the years to come.
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