Air Ambulance Services Market to Reach USD 10.30 Billion by 2029

Fortune Business Insights

The companies covered in the Air Ambulance Services market are Methods Corporation (USA), Global Medical Response Inc. (USA), Acadian Companies (USA), PHI Inc. (USA), REVA Inc. (USA), Express Aviation Services (USA), European Air Ambulance (UK), Babcock Scandinavian Air Ambulance (Sweden), Air Charter Services Pvt. ltd. (UK), Gulf Helicopters (Qatar) and other key players

Pune, India, May 18, 2022 (GLOBE NEWSWIRE) — The world air ambulance services market The size is expected to reach USD 10.30 billion by 2029 and grow at a CAGR of 8.56% during the forecast period. Rising instances of chronic diseases such as cancer, diabetes, and others are expected to fuel the growth of the market. Fortune Business InsightsMT presented this information in its report entitled, “Air Ambulance Services Market, 2022-2029”. The market size stood at USD 4.89 billion in 2021 and USD 5.79 billion in 2022.
Furthermore, the adoption of modern technologies and the implementation of rapid technological developments in these services are expected to boost the market growth in the coming years.

Impact of COVID-19-

air ambulance Services have experienced a rapid recovery from the impact of COVID-19 by mid-2020

The coronavirus pandemic has had a dramatic impact on several markets and industries. However, the demand for services has increased during the pandemic. Several health insurance and assistance companies, independent end-users, and hospital helicopter emergency medical services have created a vast demand for air ambulance services and helped the market flourish. Optimizing response time by establishing more bases of operations is likely to drive market growth in the coming years.

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List of major market players

  • Air Methods Corporation (USA)

  • Global Medical Response Inc. (USA)

  • Acadian companies (United States)

  • PHI Inc. (USA)

  • REVA Inc. (USA)

  • Express Aviation Services (United States)

  • European Air Ambulance (UK)

  • Babcock Scandinavian Air Ambulance (Sweden)

  • Air Charter Services Pvt. ltd. (UK)

  • Gulf Helicopters (Qatar)

Report Scope and Segmentation:

Report attribute

Details

Market size value in 2021

$4.89 billion

Revenue forecasts in 2029

$10.30 billion

Rate of growth

CAGR of almost 8.56% 2022-2029

Year of reference

2021

Historical years

2018 – 2020

Forecast years

2022 – 2029

Segments Covered

By product type, by application and by geography

Forecast units

Value (USD billion) and volume (units)

Quantitative units

Revenue in USD Million/Billion and CAGR from 2022 to 2029

Regions covered

North America, Europe, Asia-Pacific, South America, Middle East and Africa, and Rest of the World

Countries covered

United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others

Number of companies covered

Methods Corporation (USA), Global Medical Response Inc. (USA), Acadian companies (USA), PHI Inc. (USA), REVA Inc. (USA), Express Aviation Services (United States), European Air Ambulance (UK), Babcock Scandinavian Air Ambulance (Sweden), Air Charter Services Pvt. ltd. (UK), Gulf Helicopters (Qatar) and other key players

Report cover

Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments & Region, Market Share Analysis business and analysis of the impact of COVID-19.

Scope of customization

Take advantage of personalized purchasing options to meet your exact research needs.

Segments-
Based on the service operator, the market is trifurcated into government, independent and hospital. Based on application, the market is segmented into neonatal and pediatric transport, infectious disease service, overweight patient transport, organ transplant logistics, rescue helicopter service, inter-facility and others. On the basis of aircraft type, the market is bifurcated into rotary wing and fixed wing. Geographically, the market is categorized into Europe, Asia-Pacific, Europe, Middle East and Africa.

Report cover-

  • It analyzes individual segments such as service operator, application, aircraft type and regions.

  • It presents the latest developments in the industry.

  • It includes a detailed analysis of the impact of the COVID-19 pandemic on the market.

  • It offers a SWOT analysis of the major players in the market.

  • It highlights various strategies adopted by the major market players to witness the growth.

Browse Detailed Abstract of Research Report with TOC:

https://www.fortunebusinessinsights.com/air-ambulance-services-market-102577

Drivers and Constraints-

Rising prevalence of chronic diseases to fuel market growth

Rising instances of chronic diseases such as cancer, diabetes, and others are expected to be a key factor in driving the global market. The increasing prevalence of chronic diseases is fueling the demand for services, primarily in stroke cases. Additionally, the global pandemic has provided significant demand for these services and boosted the growth of the market.
Growing technological developments in air ambulance services and improvements in air ambulance communication technologies are expected to drive the market growth.
Moreover, the growing demand for security measures and real-time data is fueling the demand for real-time data tracking software. Real-time data can help pilots make appropriate decisions when needed during flight. Additionally, the integration of advanced technologies, such as Internet of Things and Artificial Intelligence, to provide streamlined operational activities is expected to supplement the market growth.
However, high prices for air medical services might restrain the market growth over the forecast period.

Regional outlook-

North America will have the lion’s share

North America is expected to achieve the largest air ambulance services market share. The large helicopter fleets present in the United States and the large number of helicopter pilots in the region are expected to fuel the growth of the region’s market. Additionally, key players present in the region such as Acadian Companies, PHI Air Medical, Air Methods, and others are driving the growth of the market.
Asia-Pacific is expected to show tremendous growth over the forecast period. Improving economic conditions in India and China and expanding aviation industry are expected to support the growth of the air ambulance services market.
Europe is expected to experience substantial growth due to the rise of aircraft and leasing facilities based on modern technology.
The rest of the world is expected to show considerable growth due to an expanding healthcare sector and improving economic conditions in the region.

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Detailed Table of Contents:

  • Introduction

  • Summary

  • Market dynamics

    • Market factors

    • Market constraints

    • Market opportunities

  • key ideas

    • Major Industry Developments – Major Contracts and Agreements, Mergers, Acquisitions and Partnerships

    • Latest technological advances

    • Analysis of the five forces of carriers

    • Supply chain analysis

TOC Continued…!

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Competitive Landscape-
Key Players Form Partnerships to Drive Growth
Major market players are investing heavily to provide advanced air ambulance services. They emphasize strategic mergers, contracts, partnerships and the like to improve their market penetration. For example, Air Methods signed the largest Hcare maintenance support contract with OEM in February 2021.

Key industry development-
February 2021: Reva and GainJet Ireland have formed a partnership to set up a European hub at Shannon Airport. They also aim to provide employment for nine staff and a mix of flight and medical personnel.

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