Number of pages: 100 | Report Format: PDF | Published date: March 07, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global air ambulance services market was valued at US$ 6.43 billion in 2022 and is expected to register a revenue CAGR of 10.9% to reach US$ 16.32 billion by 2031.
Air Ambulance Services Market Fundamentals
Air ambulance services are specialized medical transport services that use aircraft to quickly transport patients who require urgent medical attention. These services are typically used for patients who are too ill or injured to travel by traditional means of transportation, such as cars or commercial flights. Air ambulance services can be used for both domestic and international transport and are equipped with state-of-the-art medical equipment and staffed by highly trained medical professionals.
Air ambulance services are used in various emergencies, including natural disasters, medical emergencies, and the transportation of critically ill patients between medical facilities. These services play a vital role in the healthcare industry by providing rapid, high-quality care to patients who require urgent medical attention. They are often used to transport patients to specialized medical facilities where they can receive the specialized care they require.
While air ambulance services can be expensive, they are often covered by health insurance, making them accessible to many patients who require urgent medical attention. Additionally, many air ambulance services are operated by non-profit organizations or charitable foundations, which can help to offset some of the costs associated with these services. Overall, air ambulance services provide a critical lifeline to patients who require urgent medical attention and are essential to the healthcare system.
Air Ambulance Services Market Dynamics
As the global population continues to grow, the demand for emergency medical services is also growing. Air ambulance services are critical in providing rapid, high-quality care to patients in remote and hard-to-reach locations. As a result, the demand for these services is increasing and leading to the revenue growth of the global air ambulance services market. The air ambulance industry is constantly evolving, with new technologies and innovations being constantly developed. This includes everything from state-of-the-art medical equipment to advanced communication systems and GPS tracking. These technological advancements have helped to improve the quality and speed of air ambulance services, making them more effective than ever before and thus fueling the revenue growth of the global air ambulance services market. Governments and healthcare organizations worldwide are investing heavily in healthcare infrastructure, including air ambulance services. These investments are helping to improve the quality and accessibility of emergency medical care, which is driving the revenue growth of the global air ambulance services market.
However, air ambulance services are expensive due to the high cost of equipment, personnel, and aircraft maintenance. These costs can limit the affordability of these services, particularly for patients who do not have health insurance coverage or whose insurance may not fully cover the costs. Moreover, air ambulance services may not be available in all areas, particularly in rural or remote locations with limited infrastructure or access to medical facilities. This can limit the ability of patients to access these services when they need them most and hamper the market revenue growth. Additionally, stringent regulations for aviation licenses, high capital investments, and safety concerns are some of the restraints impeding the overall air ambulance services market revenue growth.
Air Ambulance Services Market Ecosystem
The global air ambulance services market is analyzed from four perspectives: type, service operator, application, and region.
Air Ambulance Services Market by Type
Based on the type, the global air ambulance services market is segmented into rotary-wing and fixed-wing.
The rotary-wing segment dominated the market with the principal revenue share in 2022, attributed to providing rapid and effective patient transport. Rotary-wing aircraft, such as helicopters, are typically used for short- to medium-range transport and can quickly transport patients to medical facilities that are difficult to reach by ground transportation. Helicopters can also transport patients from remote areas to urban medical centers for specialized treatment. Rotary-wing aircraft are often the fastest and most effective means of transport for critically ill or injured patients, particularly in areas with limited infrastructure or difficult terrain. Helicopters rescue stranded hikers, skiers, and other outdoor enthusiasts who may be injured or lost in remote areas. They can also be used in disaster response efforts, such as hurricanes, earthquakes, and other natural disasters. These parameters contribute to the revenue growth of the rotary-wing segment.
The fixed-wing segment accounted for the second-largest revenue share of the market in 2022. Fixed-wing aircraft, such as airplanes, are typically used for longer-range transport, such as international or intercontinental medical evacuations. These aircraft are equipped with advanced medical equipment and staffed by highly trained medical professionals, including doctors and nurses. Additionally, the demand for air ambulance services that can transport patients across borders has increased due to the growth of global travel and tourism. Fixed-wing aircraft are often the most effective means of transport for these longer-range medical evacuations. Fixed-wing aircraft can quickly transport organs and medical teams to different locations for life-saving organ transplants. These aircraft are equipped with specialized medical equipment, such as refrigeration systems and ventilators, to ensure that the organs are transported safely and efficiently. These overall factors contribute to the revenue growth of the fixed-wing segment.
Air Ambulance Services Market by Service Operator
Based on the service operator, the global air ambulance services market is segmented into community-based services and hospital-based services.
The hospital-based services segment dominated the market with the principal revenue share in 2022, attributed to providing essential medical transport services for patients who require specialized medical care or transport between medical facilities. Hospital-based services focus on providing air ambulance services owned and operated by hospitals or healthcare systems. Hospital-based air ambulance services have close partnerships with medical facilities and are often used for inter-facility transport of critically ill or injured patients. As medical technology advances, patients require more specialized care that may not be available at their current location. Hospital-based air ambulance services can quickly transport these patients to medical facilities that provide the required specialized care. Additionally, patients who require transport between medical facilities, such as hospitals or trauma centers, may need specialized medical equipment or staff unavailable through traditional ambulance services. Hospital-based air ambulance services can provide rapid transport for these patients, ensuring they receive the care they need as quickly as possible. These advantages contribute to the revenue growth of the hospital-based services segment.
Air Ambulance Services Market by Application
Based on the application, the global air ambulance services market is segmented into inter-facility, rescue helicopter service, organ transplant logistics, infectious disease service, neonatal and pediatric transport, and others.
The organ transplant logistics segment is expected to be the fastest-growing segment during the forecast period, owing to rising demand for organ transplants. Organ transplant logistics services use fixed-wing and rotary-wing aircraft to transport organs, medical teams, and other essential equipment for successful transplant surgeries. Organ transplant logistics services are critical for ensuring that organs are transported safely and efficiently to the recipient. These services are equipped with specialized medical equipment, such as refrigeration systems and ventilators, to ensure that the organs remain viable during transport. They also have highly trained medical professionals, including doctors and nurses, who are experienced in transplant procedures. As the demand for organ transplants continues to grow, the organ transplant logistics segment is likely to play an increasingly important role in the healthcare industry.
Air Ambulance Services Market by Region
Geographically, the global air ambulance services market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America dominated the global air ambulance services market with the largest revenue share in 2022, due to the presence of the majority of air ambulance service providers and the easy accessibility to the infrastructure needed for air medical transportation. Additionally, companies across the region are continuously working on expanding their aircraft portfolio, which is also helping in the revenue growth of the regional market. For instance, in February 2023, Bell Textron Inc. secured a purchase agreement for three additional Bell 407GXi aircraft to aeromedical operator Global Medical Response (GMR), the world’s biggest medical transport firm, with 39,000 personnel serving over 4,000 towns. The order is anticipated to be delivered by the end of 2023. The three Bell 407GXis will subsequently be added to GMR’s exclusive 220 Bell helicopter fleet, which will be utilized for emergency medical missions across North America. The Bell 407GXi is a multirole helicopter and the company’s first helicopter type following its rebranding as Bell. The Bell 407GXi provides critical capabilities when transferring patients, with advanced avionics and communication suites through Garmin’s G1000H NXi Integrated Flight Deck, complete with high-definition imagery and faster processors. GMR is the world’s biggest medical transport firm, with 39,000 personnel serving over 4,000 towns.
Air Ambulance Services Market Competitive Landscape
The prominent players operating in the global air ambulance services market are:
Air Ambulance Services Market Strategic Developments
The global air ambulance services market is expected to be valued at US$ 16.32 billion by 2031.
The air ambulance services market is expected to register a revenue CAGR of 10.9% during the forecast period from 2023 to 2031.
The rising investments from governments and healthcare organizations and the growing demand for emergency medical services drive market revenue growth.
The stringent regulations for aviation licenses, high capital investments, and safety concerns restrict the global market revenue growth to its full potential.
The prominent players operating in the global air ambulance services market are Lifeguard Ambulance Service LLC., Global Medical Response, Inc., Gulf Helicopters Company, Express Air Medical Transport, and Air Charter Services Pvt Ltd.
*Insights on financial performance are subject to the availability of information in the public domain