In its latest report, market analyst Fact.MR predicts that the global air ambulance market will be worth around US$50 billion in 10 years’ time thanks to a remarkable compound annual growth rate (CAGR) forecasted to be 11% for the period 2022-2032.
What is intriguing in the report is that Fact.MR had already forecasted a bullish 8% in the same report last year. According to the 2022 report, the growth will be driven primarily by the demands for critical care as the population ages.
Unsurprisingly, the report points to the US market as the most developed, followed by Europe. Even so, it expects a double-digit CAGR in these more mature markets. It doesn’t rule out more exponential rates in Asia and Asia-Pacific.
Such growth begs the obvious question: namely, where will the aircraft, crews and maintainers come from to service it? As lead times for new aircraft continue to extend and pilot shortages have begun to impact service availability, it’s a question that cannot be long ignored.
