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The global offshore helicopter services market size is slated to reach USD 3,227.7 million by 2026 owing to rising passenger travel by helicopters rides worldwide. This information and other insights are provided by Fortune Business Insights™ in its latest report, titled “Offshore helicopter services 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”. As per the computations shared in the report, the value of this market stood at USD 2,513.4 million in 2018 and is expected to exhibit a CAGR of 3.17% from 2019 to 2026.
Airbus and Shell Collaborate to Provide Offshore Transportation Services
One of the prominent offshore helicopter services market trends is the rising frequency of strategic partnerships among bigwigs in this market. The recent collaboration between Airbus and Shell bolstered this trend. In January 2020, France-based Airbus Helicopters (part of Airbus) and Shell Aircraft (part of Royal Dutch Shell) joined forces to make available commercially the H160 utility helicopter developed by Airbus. While the main feature of the H160 is safe and comfortable offshore transportation, its true uniqueness lies in its high fuel efficiency and a holistic maintenance ecosystem. Additionally, the carrier also sports an automated pilot assistance system developed by Helionix, along with advanced safety and operability.
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Heightened Pace of Oil and Gas Drilling Operations to Boost the Market
Worldwide, energy demand is skyrocketing and the International Energy Agency (IEA) predicts that fossil fuels will meet half of this demand, at least till 2040. This implies that oil and gas exploration and production activities will intensify and escalate to ensure supply-demand balance, necessitating efficient equipment and vehicles. In view of this, many helicopter service providers are increasing their stockpile of helicopters. For example, US-based oilfield services major Baker Hughes announced that its international rig count was at 1,025 in December 2018, rising from 991 in November 2018, a jump of more than 3% in just a month’s span. This is indicative of the fact that the oil & gas helicopter services market demand is slated to experience robust growth in the near future.
Outsourcing of Specialized Operations to Broaden Scope of Competition
Offshore services of any kind require a specific skillset and in case of helicopter services, the skill quotient is significantly raised, considering the dangers such operations pose. As a result, aviation and energy companies are focusing on awarding contracts to specialized operators providing helicopter services, which has emerged as the hallmark feature of the competition in this market.
List of Key Companies Profiled in the Offshore Helicopter Services Market Report:
Further Report Findings:
Global Offshore Helicopter Services Market Scope Segmentation Table:
Value (USD million)