Europe Offshore Helicopter Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The market is segmented by Type (Light Helicopters and Medium and Heavy Helicopters), End-user Industry (Oil & Gas Industry, Offshore Wind Industry, and Other End-user Industries), Application (Drilling, Production, Relocation and Decommissioning, and Other Applications), and Geography (United Kingdom, Norway, Netherlands, and Rest of Europe).

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Europe Offshore Helicopters Market Size

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Europe Offshore Helicopter Services Market
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 4.50 %
Market Concentration Low

Major Players

Europe Offshore Helicopter Services Market

*Disclaimer: Major Players sorted in no particular order
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Europe Offshore Helicopters Market Analysis

The Europe offshore helicopter services market is expected to grow at a CAGR of more than 4.5% during the forecast period of 2020 - 2025. Factors such as rising deep-water offshore development activity, increasing decommissioning activities, and improved viability of offshore oil and gas projects are expected to be major drivers driving the market. Also, advancement in technology, leading to an increase in efficiency and reliability of modern helicopters, has been a significant factor for the growth of the Europe offshore helicopter services market. However, competition from less expensive crew transfer vessels has somewhat hampered the growth of the market.

  • The oil & gas industry sector is expected to dominate the market in the forecast period, owing to factors like increasing offshore exploration and production activity to compensate for declining onshore oil & gas fields and rise in the number of decommissioning projects.
  • The offshore wind industry is expected to provide an excellent opportunity for the Europe offshore helicopter services market in the forecast period. With the growth in offshore wind power generation, there arises the need for transportation to offshore structures. This requirement is being increasingly and reliably fulfilled by helicopters. Unlike the earlier offshore wind farms that had easier access to boats, the newly built wind farms are located farther, thus making helicopters a viable option for such transportation requirements.
  • Norway is expected to dominate the market, over rising offshore oil & gas exploration and production. The country is the biggest oil& gas producer in the region.

Europe Offshore Helicopters Market Trends

This section covers the major market trends shaping the Europe Offshore Helicopters Market according to our research experts:

Oil & Gas Industry Sector to Dominate the Market

  • The oil & gas industry sector has dominated the market in the past and is expected to do so in the forecast period too. The sector is the most popular source of revenue for the offshore helicopter industry in the region.
  • Rising offshore exploration activities in countries like the United Kingdom and Norway are expected to help grow the market in the forecast period. Also, the majority of the oil & gas production in the region is from offshore fields, thereby requiring offshore helicopters for transportation of crew.
  • It is estimated that the UKCS has around 1.5 billion BOE of resource in potentially commercial undeveloped discoveries (as of May 2018), many of which were previously considered to be too small or technically challenging.
  • In May 2018, the Oil and Gas Authority (OGA) of the United Kingdom offered 123 licenses to over 229 blocks or part-blocks, to 61 companies, in the 30th offshore licensing round. The deep-water sector in the United Kingdom is highly challenging, not only in terms of the environment but also because of the aforementioned points. On the other hand, in the case of shallow water, though the major producers of oil and gas in the United Kingdom are facing similar challenges, it continues to attract investors due to the favorable tax structure.
  • In 2018, there were considerably higher exploration activities compared to the previous two years. Fifty-three exploration wells were drilled, and 12 discoveries were made on the Norwegian continental shelf. The discoveries have a preliminary total estimate of 82 million standard cubic meters of recoverable oil equivalents. This gives an expected resource growth that is higher than in each of the previous three years.
  • Therefore, the rising exploration activity to compensate for declining oil & gas production, and favorable government policies are expected to drive the market in the forecast period.
Europe Offshore Helicopter Services Market

Norway to Dominate the Market

  • Norway is expected to continue its dominance in the offshore helicopter market in the region in the coming years. The country has been very active in offshore exploration in recent years in a bid to increase its oil & gas production from newly discovered fields to compensate for declining production from mature fields.
  • The Norwegian Petroleum Directorate has estimated that the undiscovered resources on the Norwegian shelf are at approximately 4 billion standard cubic meters (Sm3) of recoverable oil equivalents. This corresponds to around 47% of all the remaining resources on the shelf. Moreover, as per the Norwegian Petroleum Directorate (NPD), the exploration cost was about NOK 25.7 billion in 2018, representing a decline of approximately 43% from 2013 levels. The decline in exploration and drilling cost is expected to drive the exploration activity in the country during the forecast period, which in turn, is expected to drive the demand for offshore helicopters in the coming years.
  • On the other hand, many of the ~500 facilities on the shelf are approaching the end of their expected lifespans. In the coming years, several of these facilities are likely to be shut down and decommissioned in a responsible manner, which may, in turn, result in creating the demand for offshore helicopter services during the coming years.
  • In June 2019, the Norwegian Ministry of Petroleum and Energy announced its plans to open two areas for offshore wind development with a combined capacity of up to 3.5GW. Similarly, in August 2019, Equinor has stated that it is exploring the possibility of deploying floating offshore wind to power its oil and gas production platforms in Norway. The project is expected to consist of 11 wind turbines based on Equinor's floating offshore wind concept, Hywind. The 8 MW turbines are expected to have a combined capacity of 88 MW, enough to meet about 35% of the annual power demand of the five platforms.
  • Therefore, the rising offshore oil & gas development and an increasing number of offshore wind farms in the country are expected to help grow the offshore helicopter services market in the country.
Europe Offshore Helicopter Services Market

Europe Offshore Helicopters Industry Overview

The Europe offshore helicopter services market is moderately concentrated. Some of the major companies are Bristow Group Inc., CHC Group Ltd, Abu Dhabi Aviation Airways PJSC (Abu Dhabi Aviation), Babcock International Group PLC, Airbus SE amongst others.

Europe Offshore Helicopters Market Leaders

  1. Bristow Group Inc.

  2. CHC Group Ltd.

  3. Abu Dhabi Aviation Airways PJSC (Abu Dhabi Aviation)

  4. Babcock International Group PLC

  5. Airbus SE

*Disclaimer: Major Players sorted in no particular order

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Europe Offshore Helicopters Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Light Helicopters

      2. 5.1.2 Medium and Heavy Helicopters

    2. 5.2 End-user Industry

      1. 5.2.1 Oil & Gas Industry

      2. 5.2.2 Offshore Wind Industry

      3. 5.2.3 Other End-user Industries

    3. 5.3 Application

      1. 5.3.1 Drilling

      2. 5.3.2 Production

      3. 5.3.3 Relocation and Decommissioning

      4. 5.3.4 OtherApplications

    4. 5.4 Geography

      1. 5.4.1 United Kingdom

      2. 5.4.2 Norway

      3. 5.4.3 Netherlands

      4. 5.4.4 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Service Providers

        1. 6.3.1.1 Bristow Group Inc.

        2. 6.3.1.2 Babcock International Group PLC

        3. 6.3.1.3 CHC Group Ltd.

        4. 6.3.1.4 Abu Dhabi Aviation Airways PJSC (Abu Dhabi Aviation)

      2. 6.3.2 Helicopter Manufacturers

        1. 6.3.2.1 Airbus SE

        2. 6.3.2.2 Leonardo SpA

        3. 6.3.2.3 Textron Inc.

        4. 6.3.2.4 Lockheed Martin Corporation

    4. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Europe Offshore Helicopters Industry Segmentation

The Europe offshore helicopter services market report include:

Type
Light Helicopters
Medium and Heavy Helicopters
End-user Industry
Oil & Gas Industry
Offshore Wind Industry
Other End-user Industries
Application
Drilling
Production
Relocation and Decommissioning
OtherApplications
Geography
United Kingdom
Norway
Netherlands
Rest of Europe
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Europe Offshore Helicopters Market Research FAQs

The Europe Offshore Helicopter Services Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)

Bristow Group Inc. , CHC Group Ltd. , Abu Dhabi Aviation Airways PJSC (Abu Dhabi Aviation) , Babcock International Group PLC and Airbus SE are the major companies operating in the Europe Offshore Helicopter Services Market.

The report covers the Europe Offshore Helicopter Services Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Offshore Helicopter Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Europe Offshore Helicopter Services Industry Report

Statistics for the 2024 Europe Offshore Helicopter Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Offshore Helicopter Services analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Europe Offshore Helicopter Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)