Pune, India, June 05, 2023 (GLOBE NEWSWIRE) -- The global air ambulance service market size is anticipated to hit USD 10.30 billion by 2029 and exhibit a CAGR of 8.56% during the forecast period. The rising cases of chronic diseases such as cancer, diabetes, and others are expected to fuel the market growth. Fortune Business Insights has presented this information in its report titled, “Air Ambulance Service 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 swift technological developments in such services are estimated to stimulate market growth in the forthcoming years.
The air ambulance service market refers to the industry that provides emergency medical transportation via helicopters or fixed-wing aircraft. These services are used to rapidly transport patients who require immediate medical attention or specialized care to medical facilities that are often far away or inaccessible by ground transportation.
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List of Key Companies Covered in Air Ambulance Service Market Players:
- Air Methods Corporation (U.S.)
- Global Medical Response Inc. (U.S.)
- Acadian Companies (U.S.)
- PHI Inc. (U.S.)
- REVA Inc. (U.S.)
- Express Aviation Services (U.S.)
- European Air Ambulance (U.K.)
- Babcock Scandinavian Air Ambulance (Sweden)
- Air Charter Services Pvt. Ltd. (U.K.)
- Gulf Helicopters (Qatar)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 8.56% |
| 2029 Value Projection | USD 10.30 billion |
| Market Size in 2022 | USD 5.79 billion |
| Historical Data | 2018-2020 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Air Ambulance Service Market Growth Drivers | Growing Cases of Chronic Diseases Expected to Increase the Demand for Air Medical Services |
| Rapid Technological Advancements in Air Ambulance Services to Boost the Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/air-ambulance-services-market-102577
Segments-
On the basis of service operator, the market is trifurcated into government, independent, and hospital-based. On the basis of application, the market is segmented into neonatal and paediatric 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 classified into Europe, Asia Pacific, Europe, and the Middle East & Africa.
The air ambulance service market is comprised of both public and private providers. Public providers may include government-run services, such as those operated by the military or national health services. Private providers are typically commercial entities that offer air ambulance services on a fee-for-service basis.
the air ambulance service market plays a crucial role in emergency medical care, providing rapid transportation and specialized medical services to critically ill or injured patients. With advancements in technology and growing demand for quality healthcare, the market is expected to continue to expand in the coming years.
Key factors driving the growth of the air ambulance service market include the increasing demand for emergency medical services, advancements in aviation and medical technology, and the need for specialized healthcare during emergencies. The market is driven by both private operators and government organizations, and it serves a wide range of customers, including individuals, hospitals, insurance companies, and government agencies
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Drivers & Restraints-
Rising Prevalence of Chronic Diseases to Fuel Market Growth
The increasing cases of chronic diseases such as cancer, diabetes, and others are expected to be a key factor boosting the global market. The growing prevalence of chronic diseases fuels the services demand, prominently in cases of strokes. Moreover, the global pandemic has provided a significant demand for such services and boosted the market growth.
The increasing technological developments in air ambulance services and the improvements in air ambulance communication technologies are expected to bolster the market growth.
Additionally, the growing demand for safety measures and real-time data fuels the demand for real-time data tracking software. Real-time data can help pilots take appropriate decisions when required during the flight. Moreover, the incorporation of advanced technologies, such as the Internet of Things and artificial intelligence, to provide simplified operational activities is expected to complement the market growth.
However, the high prices of air medical services may restrain the market growth during the forecast period.
Regional Insights-
North America to hold the Lion’s Share
North America is predicted to attain the largest air ambulance service market share. The large helicopter fleets present in the U.S. and the vast numbers of helicopter pilots in the region are expected to fuel the region’s market growth. Moreover, the key players present in the region, such as Acadian Companies, PHI Air Medical, Air Methods, and others, stimulate the market growth.
Asia Pacific is likely to exhibit tremendous growth during the forecast period. The improving economic situations across India and China and the expanding aviation industry are predicted to favor the air ambulance service market growth.
Europe is predicted to witness substantial growth due to rising modern technology-based aircraft and leasing facilities.
The rest of the world is projected to exhibit considerable growth due to expanding healthcare sector and improving economic conditions of the region.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Global Air Ambulance Services Market
- Impact of the COVID-19 pandemic on the Global Air Ambulance Services Market
- Steps taken by Industry/ Companies/ Governments to overcome the impact
- Key Developments in the Industry in Response to COVID-19 pandemic
- Potential opportunities due to COVID-19 Outbreak
TOC Continued…!
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Competitive Landscape-
Key Players Form Partnerships to Garner Growth
The major market players invest heavily to deliver advanced air ambulance services. They emphasize strategic mergers, contracts, partnerships, and others to improve their market penetration. For instance, Air Methods signed the largest Hcare Maintenance support contract with OEM in February 2021.
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