Nov 11, 2019 (Market Insight Reports via COMTEX) -- Offshore Helicopters market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2019 to 2024 are profiled in this report.
The Offshore Helicopters market is highly competitive and consists of a number of major players: Bristow Group Inc, CHC Group Ltd, Era Group Inc, PHI, Inc., Abu Dhabi Aviation (ADA), Airbus Group SE, Leonardo SpA, Textron Inc., Lockheed Martin Corporation and others
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Scope of the Report
The global offshore helicopter services market is highly concentrated in the North Sea and the Gulf of Mexico regions that gross around half of the global market revenue. The Middle East region is expected to be a key hotspot for offshore helicopter operations in the coming five years with a 20% increase in overall activity during 2018-2022. In Latin America, activity has nearly halved during the downturn, but it is likely to rebound at a faster pace, primarily driven by activity in Brazil.
Key Market Trends
Medium & Heavy-Sized Helicopters Offer Great Potential for Growth
A new generation of medium-sized helicopters, such as Airbus H175 and AW189, with high safety features, is expected to be adopted by a majority of the end-users. However, with the rising demand for cost optimization among the end-users, the need for large helicopters with an ability to transport further and with increased passenger capacity is also set to increase. Safety is detrimental for taking any decision across offshore operations. The recent crash of H225 helicopter in Norway questioned the safety standards of the industry and posed a global challenge in the current lower for longer oil price scenario. However, in the long term, the industry is projected to grow at a marginal pace with the influx of a more advanced helicopter fleet, increase in the production acreage of the end users and the rise in the drilling of offshore oil & gas fields.Giant offshore helicopters service providers, such as Bristow, CHC Helicopter still get around 70%-80% of their gross revenue from servicing the offshore oil & gas industry.
With the operations and maintenance in the offshore segment of the oil & gas industry increasing in complexity, especially on ultra-deep-water and deep-water drilling operations, there exists a need for frequently transporting large helicopters at regular intervals. Moreover, the government regulations have become stringent on the number of people transported at a time and the type of helicopters that can fly in particular airspace. Thus, the demand for the medium and heavy type of helicopters is expected to grow during the forecast period significantly.
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ncreasing Offshore Oil & Gas Activities to Drive the Market
From the demand-side perspective, the demand for oil is expected to double by 2050, primarily driven by developing economies in the Asia-Pacific and African regions. The US crude oil production is also estimated to rise to 9.9 million b/d in 2018 up from 9.39 million b/d in October 2017, mainly attributed to the increased offshore E&P activities in the Gulf of Mexico region. With the oil prices stabilizing over USD 50 per barrel mark, similar trends are also expected to rise in other areas; especially in Western Europe, throughout Asia-Pacific, and most of Africa. Hence, the above developments in the offshore oil & gas industry are expected to have a positive impact on the offshore helicopter services market.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: Offshore Helicopters Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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COMTEX_356652939/2599/2019-11-11T03:27:26
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