Air Ambulance Services Global Market Opportunities and Strategies to 2033

This report describes and explains the air ambulance services market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global air ambulance services market reached a value of nearly $17.92 billion in 2023, having grown at a compound annual growth rate (CAGR) of 5.6% since 2018. The market is expected to grow from $17.92 billion in 2023 to $23.2 billion in 2028 at a rate of 5.3%. The market is then expected to grow at a CAGR of 6.6% from 2028 and reach $31.99 billion in 2033.

Growth in the historic period resulted from the increasing frequency of disasters, growing number of road accidents, rising healthcare expenditure, strong economic growth in emerging markets and rise in disposable income. Factors that negatively affected growth in the historic period include stringent compliance and certification requirements and high airline maintenance costs.

Going forward, the growing chronic disease cases, rapid urbanization, aging population and government initiatives will drive the market. Factors that could hinder the growth of the air ambulance services market in the future include stringent regulatory norms for aircraft manufacturing and lack of insurance coverage and high operating costs.

The air ambulance services market is segmented by type into rotary-wing and fixed-wing. The rotary-wing market was the largest segment of the air ambulance services market segmented by type, accounting for 75.4% or $13.52 billion of the total in 2023. Going forward, the fixed-wing segment is expected to be the fastest growing segment in the air ambulance services market segmented by type, at a CAGR of 5.6% during 2023-2028.

The air ambulance services market is segmented by service operator into hospital based, independent and government. The hospital based market was the largest segment of the air ambulance services market segmented by service operator, accounting for 44.8% or $8.03 billion of the total in 2023. Going forward, the independent segment is expected to be the fastest growing segment in the air ambulance services market segmented by service operator, at a CAGR of 5.9% during 2023-2028.

The air ambulance services market is segmented by application into inter-facility, rescue helicopter service, organ transplant logistics, overweight patient transport, infectious disease service, neonatal transport, patient transport and other applications. The inter-facility market was the largest segment of the air ambulance services market segmented by application, accounting for 45.8% or $8.19 billion of the total in 2023. Going forward, the organ transplant logistics segment is expected to be the fastest growing segment in the air ambulance services market segmented by application, at a CAGR of 6.8% during 2023-2028.

The air ambulance services market is segmented by service type into domestic and international. The domestic market was the largest segment of the air ambulance services market segmented by service type, accounting for 81.1% or $14.54 billion of the total in 2023. Going forward, the international segment is expected to be the fastest growing segment in the air ambulance services market segmented by service type, at a CAGR of 5.9% during 2023-2028.

North America was the largest region in the air ambulance services market, accounting for 45.5% or $8.15 billion of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the air ambulance services market will be Asia-Pacific and the Middle East, where growth will be at CAGRs of 8% and 6.5% respectively. These will be followed by Africa and South America, where the markets are expected to grow at CAGRs of 6% and 5.8% respectively.

The global air ambulance services market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 16.03% of the total market in 2023. Air Methods Corporation was the largest competitor with a 4.10%share of the market, followed by American Medical Response, Inc. with 4.02%, CareFlight with 3.97%, PHI Air Medical with 2.12%, AirMed International with 0.47%, REVA Inc. with 0.40%, Life Flight Network with 0.35%, Acadian Ambulance Service with 0.26%, European Air Ambulance (EAA) with 0.18% and Angel MedFlight Worldwide Air Ambulance Services with 0.16%.

The top opportunities in the air ambulance services market segmented by type will arise in the rotary-wing segment, which will gain $3.91 billion of global annual sales by 2028. The top opportunities in the air ambulance services market segmented by service operator will arise in the hospital based segment, which will gain $2.3 billion of global annual sales by 2028. The top opportunities in the air ambulance services market segmented by application will arise in the inter-facility segment, which will gain $2.35 billion of global annual sales by 2028. The top opportunities in the air ambulance services market segmented by service type will arise in the domestic segment, which will gain $4.16 billion of global annual sales by 2028. The air ambulance services market size will gain the most in the USA at $1.48 billion.

Market-trend-based strategies for the air ambulance services market include expansion of services for efficient patient evacuation, introduction of incubators on rotary wing aircraft, focus on expansion of fleets to enhance services offerings and strategic partnerships among market players.

Player-adopted strategies in the air ambulance services market include focus on expanding operational capabilities through strategic collaborations and partnerships.

To take advantage of the opportunities, the analyst recommends the air ambulance services companies to focus on expanding service offerings, focus on innovating ambulatory services for enhanced care, focus on expanding fleet capabilities for enhanced service delivery, focus on expanding in the fixed-wing segment, focus on expanding in the independent segment, focus on international expansion strategies, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships to expand distribution channels, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and focus on inter-facility service expansion.