Air Ambulance Service Market Share, Size, Trends, Industry Analysis Report, By Type (Rotary-wing, Fixed-wing); By Service (Hospital-based, Community-based); By Region; Segment Forecast, 2022 - 2030
- Published Date:Oct-2022
- Pages: 114
- Format: PDF
- Report ID: PM1335
- Base Year: 2021
- Historical Data: 2018-2020
Report Outlook
The air ambulance service market was valued at USD 15.74 billion in 2021 and is expected to grow at a CAGR of 10.5% during the forecast period. Rising cases of chronic disorders and rapid technological advancement related to air ambulances are the major factors attributed to stimulating the growth of the air ambulance service market.
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Growth in existing and emerging technologies such as traditional helicopters, vertical-takeoff-and-landing aircraft (VTOL), electrically propelled vertical-takeoff-and-landing aircraft (eVTOL), and unmanned aerial vehicles (UAVs) together referred to as urban air mobility platforms are offering considerable growth opportunities for market participants.
For instance, in October 2022, FlyBlade India, which offers air service to four significant Indian cities, and Eve Air Mobility signed a non-binding agreement to deliver up to 200 electronic vertical takeoffs and landing (eVTOL) aircraft. The companies will work together on a three-month pilot project providing intra-city helicopter flights. The contract includes service and maintenance and Eve's Urban Air Traffic Management software.
The main application of an air ambulance service is that it gives higher care than ground medical transportation. Moreover, air ambulance provides a short-distance journey maintaining the patient comfort. Although it's a time-consuming service, providing nurses and healthcare professionals to look after due to some environmental concerns. It includes aircraft and helicopters with all medical facilities.
However, lack of healthcare infrastructure, an inadequate number of aircraft in the emerging economy, the high cost of air medical services, and stringent rules and lengthy procedures, the market is supposed to face some hindrances.
Covid-19 has positively influenced the air ambulance service market as there was a rise in the need for air ambulances during the pandemic. Due to this pandemic, companies that offer air ambulance services had to alter their equipment to comply with new safety regulations. The major market participants are improving their services to counter the consequences of COVID-19.
For instance, the internationally recognized air ambulance operator ACE Air & Ambulance Pvt Ltd purchased specific isolation chamber (ISO-Chamber) equipment to transport COVID-19 patients. In the future, this will expand their ability to transport patients with contagious diseases.
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Industry Dynamics
Growth Drivers
The rising prevalence of life-threatening conditions such as heart failure and stroke, which require immediate medical attention, is expected to propel the expansion of the air ambulance services market. According to a World Health Organization (WHO) report in 2019, 17.5 million people die annually from cardiovascular disease. Similarly, according to the Scandinavian Journal of Trauma, Resuscitation and Emergency Medicine, the air ambulance was frequently used by patients with chest pain.
Technological advancements in communication and GPS technology of air ambulances are supposed to influence the market’s growth. For instance, Computas developed a smartphone application that is used by Norwegian Air Ambulance for navigation purposes, with advantageous functioning in all situations, such as mountain areas, cities, and under bad conditions.
Similarly, Honeywell International provides Sky Connect Tracker III satellite communication with key features such as tracking, text, dual voice, and digital mapping. This development of key players is responsible for the market’s expansion.
Furtherly, the rise in safety norms declared by Federal Aviation Administration and technological advancements such as AI and IoT-based things in air ambulance service is responsible for boosting the market over the forecast timeline.
Moreover, increased per capita healthcare expenditure can resolve the lack of medical facilities and staff. The demand for air ambulance services is anticipated to expand as these resources become more readily available.
Report Segmentation
The market is primarily segmented based on, type, service, and region.
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By Type |
By Service |
By Region |
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Rotary-wing type accounted for the largest market share in 2021
The rotary type accounted for the most considerable market share in 2021 due to its ability to land almost anywhere when it would be difficult for a ground ambulance to reach the patient. Helicopters are referred to as rotary-wing type air ambulances. Helicopter-based air ambulance services are cost-effective and have a quick response time.
The increased demand for helicopter emergency medical services (HEMS) during the COVID-19 pandemic and even after the pandemic is responsible for the segment's expansion. However, numerous aerodynamic problems affect the performance of rotary-wing aircraft and require special attention to improve power-to-weight ratios, stability, maneuverability, and fuel efficiency in all weather conditions.
Hospital-based segment will acquire the largest market share in 2021
The hospital-based segment accounted for the largest market revenue due to improving business model of hospitals. Under a medical service model, a hospital frequently provides a medical team and collaborates with an aviation service provider for aircraft, mechanics, and pilots.
A Federal Aviation Administration (FAA) certificate is required, and the hospital must pay the aviation service provider for the service model they offer. The lack of specialized treatment and doctors in some locations has led to an increase in the use of air ambulance services to rush patients to specialty hospitals.
Additionally, the hospital supplies all the medical personnel engaged in the program. To cover the service's costs, the hospital charges patients directly (Medicare, Medicaid, private insurance, third-party responsibility) at a rate they choose.
The hospital controls the program's branding, public image management, and all significant choices. A well-managed hospital-based medical transport program can develop into a revenue-generating component of the hospital or healthcare system by controlling the rates paid to the patients. Hospital-based programs are frequently in-network with private payers, effectively eliminating the patient from any financial burden.
North America dominated the regional market
North America dominated the market in 2021 owing to the existence of air medical service providers, the availability of advanced medical facilities, and the presence of a large helicopter fleet in the U.S. Additionally, the market in North America is driven by significant players like Air Methods, PHI Air Medical, Acadian Companies, and others.
The Asia Pacific is supposed to grow fastest in the forecast period. Rapidly expanding medical tourism industries in emerging economies such as India and China are major factors that propel the demand for air ambulance services in the region. Moreover, the rise in healthcare infrastructure and the growing aviation industry in the Asia Pacific are collectively responsible for boosting the market in this region.
Competitive Insight
Some of the major players operating in the global market include Acadian Ambulance, American Air Ambulance, AMR, Babcock Scandinavian Air Ambulance, Capital Air Ambulance, Express Air Medical Transport, IAS Medical, Ltd., Lifeguard Ambulance Service LLC., MED FLIGHT, Native American Air Ambulance, PHI Air Medical, and REVA, Inc.
Recent developments
In April 2021, Babcock was awarded a new contract for a Europe air ambulance jet that will offer fast jet air ambulance capability across the EU, including aircraft maintenance.
Air Ambulance Service Market Report Scope
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Report Attributes |
Details |
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Market size value in 2022 |
USD 17.07 billion |
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Revenue forecast in 2030 |
USD 37.89 billion |
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CAGR |
10.5% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
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Segments Covered |
By Type, By Service, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Acadian Ambulance, American Air Ambulance, AMR, Babcock Scandinavian Air Ambulance, Capital Air Ambulance, Express Air Medical Transport, IAS Medical, Ltd., Lifeguard Ambulance Service LLC., MED FLIGHT, Native American Air Ambulance, PHI Air Medical, REVA, Inc. |
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