Portland, OR, Oct. 13, 2023 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global air ambulance services market generated $5.23 billion in 2020, and is expected to reach $14.24 billion by 2030, registering a CAGR of 10.6% from 2023 to 2030.
Rise in rates of trauma, stroke, and heart attacks supplemented demand for air medical services and rapid technological advancements in air ambulance services have boosted the growth of the global air ambulance services market. However, strict regulations for aviation licenses and high cost of air medical services & reimbursement challenges hinder the market growth. On the contrary, growth in urban air mobility platforms and untapped potential in the Asia-Pacific region would open new opportunities for the market players in the coming years.
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Covid-19 Scenario on Air Ambulance Services:
- The Covid-19 pandemic created uncertainty in the market, disrupted the supply chain, which resulted in increase in panic among customers and business confidence.
- The lockdown across several regions and a temporary shutdown of industries adversely affected the overall production and sales.
- The prolonged lockdown due to rise in cases of Covid-19 result in temporarily terminated various operations in the aviation sector such as raw material supply, manufacturing, and aircraft deliveries.
The report segments the global air ambulance services market on the basis of service operator, service type, aircraft type, and region.
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Based on service operator, the hospital based segment is expected to portray the highest CAGR of 11.9% during the forecast period. However, the independent segment held the largest share in 2020, contributing to more than two-fifths of the market.
On the basis of aircraft type, the rotary-wing segment is projected to manifest the highest CAGR of 12.2% during the forecast period. However, the fixed-wing segment held the lion’s share in 2020, accounting for nearly three-fourths of the market.
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The global air ambulance services market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020, holding nearly two-fifths of the market. However, the market across the Asia-Pacific region is projected to showcase the highest CAGR of 13.7% during the forecast period.
The global air ambulance services market report includes an in-depth analysis of the prime market players such as Aeromedevac, Acadian Companies, Alpha Star, Air Methods, Gulf Helicopters, Babcock Scandinavian AirAmbulance, Express Aviation Services, European Air Ambulance, PHI Inc., and REVA Inc.
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