Participating in the Helicopter Association International's HELI-EXPO 2103 in Las Vegas on Tuesday, Honeywell (NYSE:HON) presented its 15th Turbine-Powered Civil Helicopter Purchase Outlook report, in which the industrial conglomerate laid out its expectations for the civilian helicopter market over the five-year period running through 2017.

The headline here is that Honeywell believes global helo manufacturers will sell anywhere from 4,900 to 5,600 civilian-use helicopters over the next five years, with sales expanding "in every region of the world" as the aircraft are increasingly employed on "corporate, oil and gas, utility, and training missions."

Chronologically, Honeywell says we will see a surge in helo sales over the first three years of the period, with sales coming in 35% stronger than the company expected to see as recently as last year.

Geographically, Honeywell expects that the globe's strongest growth will be found in Latin America, where helo sales are expected to spike 34%. This growth spurt will support the 47% market share that the Western Hemisphere is expected to claim in helicopter sales. Overall, the company sees sales being divvied up geographically as follows:

  • Europe 28%
  • North America 27%
  • Central and South America 20%
  • Asia/Oceania 19%
  • Africa/Middle East 6%