Global Air Ambulance Services Market Overview
Global Air Ambulance Services Market is expected to reach USD 11,456.3 million by 2024 at a CAGR of 2.95% during the forecast period.
Air ambulance manufacturers are investing heavily in advanced technologies to reduce costs and improve turnaround time. For instance, 3D printing is dramatically changing the way structures and components of aircraft are currently designed and manufactured. It reduces the design constraints that engineers face when using conventional fabrication techniques. Furthermore, the ability to fabricate functional electronics into complex structures using 3D printing allows manufacturers to offer air ambulances that operate effectively in adverse conditions such as inclement weather, tsunamis, droughts, and cyclones.
Global Air Ambulance Services Market Segmental Analysis
The global air ambulance services market has been segmented on the basis of transport vehicle, aircraft type, service model, and mission profile.
By transport vehicle, the global air ambulance services market has been classified as air and ground. The ground segment is projected to dominate the market with a valuation of USD 7,911.7 million in 2018 and reach USD 9,330 million by 2024. This is due to the high utilization of ground vehicles such as small air-conditioned vans and full-size vans with all the necessary equipment for life support and medication. Moreover, these air-conditioned ambulances mimic the environment of an ICU. The air segment is expected to exhibit a CAGR of 3.69% during the forecast period.
Global Air Ambulance Services Market Regional Analysis
The global air ambulance services market has been segmented, by region, into North America, Europe, Asia-Pacific, and Rest of the World.
North America is leading the market with a valuation of USD 6,298.6 million in 2018. The presence of major market players, such as Air Methods, Air Medical Group Holdings (AMGH), and Acadian Companies, is expected to drive market growth in North America. The regional market is expected to grow at a CAGR of 2.08% during the forecast period.
Europe is projected to be the second-largest market during the review period. The regional market is expected to reach USD 2,620.1 million by 2024 at a CAGR of 4.19% during the forecast period. Asia-Pacific is projected to be the third-largest market during the review period. The regional market is expected to reach USD 1,489.3 million by 2024 at a CAGR of 5.40% during the forecast period.
Global Air Ambulance Services Market Competitive Analysis
The key players in the global air ambulance services market are Air Methods (US), Air Medical Group Holdings (AMGH) (US), ALPHASTAR (Saudi Arabia), Babcock Scandinavian AirAmbulance (Sweden), Acadian Companies (US), European Air Ambulance (Luxembourg), Express Aviation Services (US), IAS Medical (UK), PHI Air Medical (US), and REVA, Inc. (US).
Global Air Ambulance Services Market Key Developments
In August 2018, Air Methods partnered with Anthem, Inc. to provide its consumers with access to emergency medical services as part of the in-network health coverage benefits. The partnership covers consumers enrolled in Anthem affiliated health plans in Indiana, Kentucky, Missouri, Ohio, and Wisconsin in the US.
In March 2018, Air Medical Group Holdings and American Medical Response merged to form Global Medical Response with an aim to enhance their position in the air ambulance services market.
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