Offshore Helicopter Services Market Demand 2030
The global offshore helicopter services market size was valued at USD 2.89 billion in 2022. The market is projected to grow from USD 2.98 billion in 2023 to USD 4.47 Billion by 2030, exhibiting a CAGR of 6.0%. Offshore helicopter services are responsible for smooth functioning of offshore operations. As they are responsible for carrying cargo, passengers, equipment, and a wide range of activities that include pre-flight checks, planning, and others they are anticipated to propel growth of the market globally during the forecast period. Fortune Business Insights presents this information in their report titled "Global Offshore Helicopter Services Market, 2023–2030."
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List of Key Players Profiled in the Market Report:
- Bristow Group Inc. (U.S.)
- Petroleum Helicopters International Inc. (U.S.)
- CHC Helicopter Group (U.S.)
- Omni Helicopters International (OHI) SA (Portugal)
- NHV Group (Belgium)
- Abu Dhabi Aviation Co. (UAE)
- Gulf International Services QPSC (UAE)
- Erickson Incorporated (U.S.)
- CITIC Offshore Helicopter Co. Ltd. (China)
- Cougar Helicopters (Canada)
Segments:
Medium Weight Helicopters Dominate the Market due to their Versatility
The market is segmented into light, medium, and heavy based on type. In 2022, the medium weight segment dominated the market. They are highly used in firefighting, law enforcement, search and rescue operations and others.
Rising Cost of Emergency Services to Increase Market Share
Based on application, the market is divided into inspection, monitoring and surveying, passenger transport, goods transport, search and rescue, and others. Owing to the high price of emergency services, the search and rescue segment is anticipated to dominate the market during the forecast period.
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Increased Demand for Helicopter Services for Transportation to Progress Market
The market is divided into oil and gas industry, offshore wind industry and others. Globally the offshore industry is expanding and is anticipated to grow significantly during the forecast period. Increased demand for helicopter services for transporting crew and cargo is affiliated to the dominance of the oil and gas industry segment in the base year.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Reliability and Efficiency of Helicopters to Escalate Market
Helicopters are favoured over other aerial vehicles as they can operate in harsh weather conditions and can travel to distant locations. Exploration and offshore production activities require sustainable and dependable transportation services to carry cargo and crew. These requirements make helicopters a preferred choice and are likely to increase the offshore helicopter services market share.
However, high operating costs and safety concerns are likely to hamper the offshore helicopter services market growth.
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Regional Insights
North America Dominates the Market due to High Demand for Offshore Development Activity
North America was valued at USD 0.97 billion in 2022 and dominated the market in the same year. Rising demand for deep-water offshore development activity and presence of significant offshore oil and gas rigs are factors driving the region’s market growth.
Europe was the second leading region in 2022 owing to high investments by numerous countries in Search and Rescue (SAR) Operations to develop their response skills.
Competitive Landscape
Companies Focus on Acquisitions to Drive Market Expansion
Major corporations are focused on sustainable operations, diversified services, and expansion into emerging countries. Their aim is toward reducing CO2 emissions by developing sustainable fuel.
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Key Industry Development:
January 2023 – CHC Helicopter, a U.S.-based helicopter services company, announced that they have signed five exclusive contracts with Petrobras to provide offshore transportation of passengers and small loads to Campos Basin for the next four to five years. Five Leonardo AW139 helicopters will be operated by CHC Brazil from its new bases in order to support the contract.
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