Offshore Helicopter Services Market Report by Technology, Industry Share and Size Expansion to 2027 | Fortune Business Insights™

The global offshore helicopter service industry size is projected to reach USD 3,227.7 million by 2026, exhibiting a CAGR of 3.17% during the forecast period. Escalating demand for oil and gas worldwide will be the primary growth factor driving this market, finds Fortune Business Insights™ in its recent report, titled “Offshore Helicopter Service Market Size, Share & Industry Analysis, By Type (Light Weight, Medium Weight, and Heavy Weight), By Application (Inspection, Monitoring and Surveying, Passenger Transport, Goods Transport, Search and Rescue, and Others), and Regional Forecast, 2019-2026”. The oil & gas helicopter services market growth is premised on the consistently rising demand for oil and gas as primary energy and power sources. According to the International Energy Agency (IEA), in third quarter of 2019, the global demand for oil rose to 1.1 million barrels a day, more than doubling from 435,000 barrels per day from the preceding quarter of the same year. Similarly, the IEA states that global natural gas consumption rose by 4.6% in 2018 from 2017 levels and by 2030, the demand will spike as natural gas will provide a gateway from oil and coal. Thus, steady rise in offshore oil and gas exploration operations to meet the surging demand will drive the offshore helicopter service market trends.
As per the report, the value of the market stood at USD 2,513.4 million in 2018. In addition to this, the report contains the following:
• Panoramic overview of the overall industry trends;
• Careful segmentation of the market and detailed study of all segments;
• Comprehensive analysis of the factors driving and restricting the growth of the market; and
• Thorough research into the regional dynamics and competitive landscape of the market.
List of Companies Covered in the Offshore Helicopter Service Market Report:
• Abu Dhabi Aviation
• Babcock International
• CHC Helicopters
• Courag Helicopters Inc.
• Era Group Inc.
• Gulf Helicopters Company
• Heligo Charters Pvt. Ltd.
• Omni Helicopters International
• PHI Inc.
COVID-19 Impact Analysis:
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Study Period: 2016-2027
Base Year: 2019
Forecast Period: 2020-2027
Historical Period: 2016-2018
Market Restraint
Tight Regulations on Helicopter Services to Stem Growth
Aviation regulatory bodies have framed tough and rigid rules and laws for operators in the aerospace industry. For instance, helicopter operators need to apply for certification from the US Federal Aviation Administration (FAA) to carry out offshore services. These operators need to abide by stringent norms governing safety of pilots and passengers, transportation of cargo, and inspection, among others. Getting nod from the FAA is a time-consuming process, making it difficult for operators to establish themselves. The case is similar in India where the Directorate General of Civil Aviation (DGCA) has set up tight rules and regulations for monitoring aviation services in general and helicopter services in particular. As a result, the smooth growth trajectory of this market is thwarted by regulatory bumps and is likely to restrict its expansion in the coming years.
Regional Analysis
North America to Hold a Commanding Market Position; Europe and Asia-Pacific to Grow Healthily
North America boasted of a market size of USD 707.43 million in 2018 and is poised to lead the offshore helicopter service market share during the forecast period. The primary reason for this is the discovery of shale gas in the region, which has spiked the activity of oil and gas rigs. In Europe, on the other hand, the demand for FAA-certified helicopters is rising, fueling the market in the process. In Asia-Pacific, governments are framing supportive policies to encourage exploration operations especially in China, Australia, Vietnam, and India, which bodes well for the market in the region.
Competitive Landscape
Strategic Collaborations to Aid Players’ Global Expansion
The offshore helicopter service market analysis indicates that the market is set to experience a highly dynamic period owing to the increasing collaborations and partnerships that companies are entering. These joint ventures are becoming a prominent strategy as players are using the enhanced opportunities to expand their global foothold in this market.
Key Questions Answered:
• Why Choose Fortune Business Insights?
• What are the key demands and trends shaping the market?
• What are the key opportunities in the market?
• What are the key companies operating in the market?
• Which company accounted for the highest market share?
• What is the market size and growth rate of the global and regional market by various segments?
• What is the market size and growth rate of the market for selective countries?
• Which region or sub-segment is expected to drive the market in the forecast period?
• What Factors are estimated to drive and restrain the market growth
Offshore Helicopter Services Market report Focus on:
• Extensive product offerings
• Customer research services
• Robust research methodology
• Comprehensive reports
• Latest technological developments
• Value chain analysis
• Potential Market opportunities
• Growth dynamics
• Quality assurance
• Post-sales support
• Regular report updates
Reasons to Purchase this Report:
• Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
• Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
• Identifies market restraints and boosters.
• Identifies all the possible segments present in the market to aid organizations in strategic business planning.
Industry Developments:
• February 2020: The UK-based aviation specialist HeliSpeed and Cobham Aviation Services Australia entered into a search-and-rescue (SAR) agreement. Under the partnership, Cobham will support HeliSpeed’s search-and-rescue operations in the Dutch Caribbean island of Curaçao, with HeliSpeed providing Cobham with more than 1200 expert pilots.
• June 2019: The Canadian helicopter services company CHC Helicopter secured a contract from the German company Wintershall Dea for helicopter services. The award comes in the context of the upcoming drilling program in the Norwegian Sea that Wintershall is slated to head.
Browse Complete Summary of research: https://www.fortunebusinessinsights.com/offshore-helicopter-services-market-102534

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