According to a recent report published by Allied Market Research, titled, "Air Ambulance Services Market by Service Operator, Service Type, and Aircraft Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,"
The global air ambulance services market was valued at $5.24 billion in 2020, and is projected to reach $14.24 billion by 2030, registering a CAGR of 10.6% from 2021 to 2030.
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North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. U.S. dominated the global air ambulance services market share in 2020. Mexico is expected to grow at a significant rate during the forecast period, owing to increase in demand for air-based medical services to be easily available across the globe.
Air ambulances are air borne medical services, which are provided to patients through aircraft or helicopters. Air ambulance includes emergency medical services, which are meant to be provided at locations where the ground medial team faces difficulty to reach on time. This includes locations, such as hills or mountains, forests or river side & several other locations, across which air ambulance service reaches easily, thereby creating an impact on the growth of the market across the globe.
Increased medical conditions and demand for emergency ailments of patients across the globe create a demand for efficient air ambulance services to be present across the globe. In addition, emergency body part transplant or curing of life threatening diseases, which need to be cured on an immediate basis, creates an increased demand for air ambulance services across the globe.
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In addition, the presence of key companies, such as ALPHASTAR, Babcock Scandinavian AirAmbulance, Express Aviation Services, and others, operating in the global air ambulance services industry creates a positive impact on the growth of the market due to continuous developments carried out by these key players. For instance, in May 2020, EHang, a leading manufacturer of Autonomous Aerial Vehicles (AAV), successfully transferred medical professionals, staff, and medical supplies in its two-seated passenger drone. In addition, in September 2020, India's first-ever integrated air ambulance was jointly launched by Kyathi and the International Critical Air Transfer Team (ICATT). The fixed-wing aircraft ambulance is equipped with an isolation pod to enable safe transport of critical patients affected by COVID-19.
The global air ambulance services market has been segmented on the basis of service operator, service type, aircraft type, and region. By service operator, the global market is divided into hospital based, independent, and government. By service type, it is bifurcated into domestic and international. By aircraft type, it is classified into fixed-wing and rotary-wing. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Factors, such as increasing rates of trauma, stroke, & heart attacks to propel demand for air medical services and rapid technological advancements in air ambulance services, create opportunities for the growth of the market across the globe. However, stringent regulations for aviation license and high cost of air medical services & reimbursement challenges create a barrier for the growth of the air ambulance services market across the globe. Moreover, growth in urban air mobility (UAM) platform and acquiring the untapped potential of Asia-Pacific create numerous opportunities for the growth of air ambulance services market across the globe.
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Key Findings Of The Study
By service operator, the hospital based segment is expected to register significant growth during the forecast period.On the basis of service type, the international segment is anticipated to exhibit significant growth in the future.On the basis of aircraft type, the rotary-wing segment is anticipated to exhibit significant growth in the future.Asia-Pacific is anticipated to register the highest CAGR.
Covid-19 Impact Analysis
The COVID-19 crisis is creating uncertainty in the market, massive slowing of supply chain, falling business confidence, and increasing panic among customer segments.Governments of different regions have already announced lockdown and temporary shutdown of industries, thereby adversely affecting the overall production and sales.Temporary lockdown of various design, development, and manufacturing facilities is limiting the market growth. Sluggish global economies with a major focus on fighting the pandemic will also negatively impact the market growth.Lockdown situation has occurred due to rising cases of COVID-19 that temporarily terminated various operations in the aviation sector such as manufacturing, raw material supply, and aircraft deliveries.Domestic air passenger numbers have been returning to the pre-pandemic levels, particularly in developing countries such as China and Russia.
The key players profiled in the global air ambulance services market are Acadian Companies, Aeromedevac, Air Methods, Alpha Star, Babcock Scandinavian AirAmbulance, Gulf Helicopters, European Air Ambulance, Express Aviation Services, PHI Inc., and REVA Inc.
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