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Energy Industry News Releases

Offshore Helicopters Market, Size, Share, Opportunities and Forecast, 2020-2027

 



(EnergyIndustry.Net, June 29, 2020 ) Market Overview
• The Global Offshore Helicopters Market is expected to grow at a high CAGR during the forecasting period (2020-2027).
• The helicopter is known as the workhorse of the offshore oil and gas industry and offshore wind industry because it is the primary means of transporting workers to and from installations. All offshore helicopters must be equipped with at least one radio altimeter (RADALT) with dual displays (including analog indication), with a visual alert and Automated Voice Alerting Device (AVAD) capability. The offshore helicopter operations standard is designed to be used as a primary reference for the review and approval of aircraft operators. Offshore wind power industry and the presence of a large number of oil and gas platforms especially in Brazil and Europe are the major driving factors for the market growth globally.

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Market Dynamics
• Offshore wind power industry and the presence of a large number of oil and gas platforms especially in Brazil and Europe are the major driving factors for the market growth globally. Brazil is about to become a much bigger player in the oil and gas world. The South American country is leading the world in terms of planned offshore projects, ahead of the likes of the U.S. and the U.K. All the East Margin besides the pre-salt region and Equatorial Margin, including new frontier areas and a significant number of large mature fields are conventional offshore in Brazil.
• Brazil is leading the way in terms of capital investment over the same period. There will be USD 116.2 billion worth of investment up until 2025. Petrobas, the state-owned oil company in Brazil, is forecasted to spend USD 90.9 billion on projects over the next 10 years. The conventional offshore plays comprise other opportunities beyond the pre-salt, that runs along the entire Brazilian coast, from the Foz do Amazonas basin to the Pelotas Basin. Therefore, the presence of large offshore oil reserves in South America especially in Brazil is expected to the major reason for the growth of the market.
• High costs associated with new technology and strict regulations for the manufacture of helicopter components are the key restraints hindering the growth of the market worldwide.

Market Segmentation Analysis
• By the end-use industry, the Offshore Helicopters market is segmented into Offshore Wind Industry and Oil and Gas. The global Offshore Helicopters market size by offshore wind energy was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Offshore wind power or offshore wind energy is the use of wind farms constructed in bodies of water, usually in the ocean on the continental shelf, to harvest wind energy to generate electricity. Costs of offshore wind power are decreasing much faster than expected. By 2016, four contracts (Borssele and Kriegers) were already below the lowest of the predicted 2050 price.
• The contracts and projects for Offshore wind energy are increasing globally. For instance, The Chinese government had set ambitious targets of 5 GW of installed offshore wind capacity by 2015 and 30 GW by 2020 that would eclipse capacity in other countries. However, in May 2014 the capacity of offshore wind power in China was only 565 MW. Offshore capacity in China increased by 832 MW in 2016, of which 636 MW were made in China. Due to the rise in offshore wind power projects, the market for offshore helicopters is increasing at a fast pace in the forecast period for the offshore wind industry.
• By application, the Offshore helicopters market is segmented into relocation and decommissioning, drilling and production. The global Offshore Helicopters market size by drilling was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
• By type, the Offshore Helicopters market is segmented into heavy and medium helicopters and small helicopters. The global Offshore Helicopters market size by YYY was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.

Market Geographical Analysis
• The Europe Offshore Helicopters market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Europe is expected to hold the major market share within the forecast period. The helicopter is known as the workhorse of the UK offshore oil and gas industry because it is the primary means of transporting workers to and from installations. All the largest offshore wind farms are currently in northern Europe, especially in the United Kingdom and Germany, which together account for over two-thirds of the total offshore wind power installed worldwide.
• As of September 2018, the 659 MW Walney Extension in the United Kingdom is the largest offshore wind farm in the world. The Hornsea Wind Farm under construction in the United Kingdom will become the largest when completed, at 1,200 MW. Other projects are in the planning stage, including Dogger Bank in the United Kingdom at 4.8 GW, and Greater Changhua in Taiwan at 2.4 GW. Therefore, the presence of huge offshore wind industry and oil gas industries are the major factors driving the European region in the forecast period.

Market Competitive Trends
• The Offshore Helicopters market is competitive with existing players in the market.
• Some of the major manufacturers and service providers include Lockheed Martin Corporation, Textron Inc., Airbus SE, Leonardo SpA, PHI Inc., ERA Group Inc., Abu Dhabi Aviation Airways PJSC, CHC Group Ltd, Bristow Group Inc., and HNZ Group Inc.
• The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the Offshore Helicopters Market.
• Chevron Corporation has announced it is on the trail for an acquisition opportunity in the helicopter market for its offshore oil and gas operations. Chevron Corporation is an American multinational energy corporation.
• Airbus Helicopters has expanded on its initial Flight Crew Operating Manual (FCOM) for H225 (formerly EC225) aircraft in oil and gas missions.
• Bond Offshore Helicopters has been awarded a new three-year contract to provide offshore crew transport on behalf of Premier Oil.

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