Gyrocopter Market Sales To Generate 67.9 Million By 2031 Cockpit Type Segment To Lead The Industry, States Transparency Market Research

(MENAFN- GlobeNewsWire - Nasdaq) Wilmington, Delaware, United States, May 29, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Rapid increase in popularity of gyrocopters in modern urban mobility is spurring market development. Considerable demand for gyrocopters in aerial surveying, emergency medical services, and law enforcement applications presents lucrative growth opportunities for companies in the market.

The global gyrocopter market size was valued at US$ 51.7 Mn in 2022 and is projected to reach us$ 67.9 mn by 2031. Continuous technological advancements in hybrid gyrocopters and air taxis are offering lucrative opportunities to companies in the market

Continuous technological advancements in rotorcraft designs and rapid incorporation of electric motors are likely to pave the way for more reliable and safer gyrocopters that meet stringent regulatory requirements. Such product innovations are anticipated to comply with the latest Federal Aviation Administration (FAA) regulations pertaining to aviation safety. This is estimated to further boost the rate of commercialization of gyrocopters globally.

Surge in interest among tourists to use gyrocopters for viewing coastline and skyline and enhance their flight experience is expected to augment market size.

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Market Snapshot:

Report Coverage	Details
Market Revenue	US$ 51.7 Mn
Estimated Value	US$ 67.9 Mn
Growth Rate - CAGR	3.1%
Forecast Period	2023-2031
No. of Pages	184 Pages
Market Segmentation	Type, Application, End-user
Regions Covered	North America, Europe, Asia Pacific, Middle East & Africa, South America
Companies Covered	Airial Robotics, AirproGyro, Apollo Aircraft, AutoGyro, Aviomania Aircraft, Celier Aviation, ELA Aviation, Fraundorfer Aeronautics, Gyromotion, Magni Gyro, Niki Rotor Aviation, Rotorvox, Skyworks Aeronautics Corp., Trixy Aviation

Key Findings of Study

• Rapid Rate of Utilization of Gyrocopters in Short-distance Urban Aviation Applications : Manufacturers in the global gyrocopter market are focusing on improving energy efficiency of products and fuel injection systems. These developments are likely to augment market growth.
  
• A few companies pioneering in the development of affordable flying taxis are spending on enhancing rotor technologies to meet safety and certification parameters. For instance, of late, there has been growth in spending on electric vertical takeoff and landing (eVTOL) aircraft manufacturing. These initiatives are anticipated to bolster the usage of gyrocopters in short-distance urban aviation.
  
• Design innovations in the gyrocopter market are promoting the usage of the existing automotive battery and motor technology to attain same range and capability as any other commercial urban air travel.
  
• Rise in Adoption of Open Cockpit Gyrocopters : Increase in focus on using crash-resistant and lightweight body materials for gyrocopters is driving the adoption of high-performance composites. Based on type, the open frame segment is projected to dominate the market from 2023 to 2031.
  
• Considerable utilization of the design type for sports and recreational flying is expected to drive the segment in the next few years. On the other hand, close cockpit gyrocopters are preferred by law enforcement agencies in aerial survey applications.
  

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Key Drivers

• Surge in commercial and individual interest in short-distance air travel is a key driver of the gyrocopter market development. Environmental sustainability concerns of the aviation sector are likely to shape future growth trajectory of the gyrocopter industry in the next few years.
  
• Considerable advancements in design and rotorcraft technology are likely to drive the market evolution in the near future. Significant investment by the aviation sector toward the development of air taxis is broadening market outlook.
  

Regional Growth Dynamics

The market in Europe and North America is projected to expand at a rapid pace from 2023 to 2023. Extensive demand for gyrocopters in the tourism sector and recreational flying is likely to strengthen growth of the market in these regions. Rapid rise in demand for gyrocopter flights in Europe for commercial application is bolstering the market in the region.

Asia Pacific is a minor market for gyrocopters, as the demand is gradually emerging. Presence of a few gyrocopter manufacturers in China and Japan is expected to fuel the market in Asia Pacific in the next few years.

Competition Landscape

Companies are entering into partnerships to develop advanced electric air taxis to strengthen their position in the gyrocopter market. Leading players are investing significantly in R&D activities for innovations in gyroplanes. They are also focusing on expanding their operations globally. A few players hold majority stake in the market.

Prominent companies in the gyrocopter market are

• Airial Robotics
• AirproGyro
• Apollo Aircraft
• AutoGyro
• Aviomania Aircraft
• Celiar Aviation
• ELA Aviation
• Gyromotion
• Magni Gyro
• Niki Rotor Aviation
• Skyworks Aeronautics Corp
  

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Gyrocopter Market Segmentation

Type

• Open Frame
• Enclosed Cabin

Application

• Agriculture
• Aviation
• Reconnaissance and Surveillance
• Recreational Flying
• Others
  

End-user

• Civil
• Commercial

Region

• North America
• South America
• Europe
• Asia Pacific
• Middle East & Africa
  

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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