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Offshore Helicopter Services Market Size (2024 - 2029)

The Offshore Helicopter Services Market is projected to experience growth over the forecast period, driven by increased deepwater offshore exploration and the expanding offshore wind power industry. Despite challenges such as reduced day rates for helicopter services and a temporary decline due to the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. New opportunities are emerging in regions like the Mediterranean, Guyana, and East Africa, which are expected to attract investment and expand the market's scope.

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Market Size of Offshore Helicopter Services Industry

Offshore Helicopter Services Market Summary
Study Period 2020 - 2029
Market Size (2024) USD 3.54 Billion
Market Size (2029) USD 4.29 Billion
CAGR (2024 - 2029) 3.90 %
Fastest Growing Market Middle East and Africa
Largest Market Europe
Market Concentration High

Major Players

Offshore Helicopter Services Market Major Players

*Disclaimer: Major Players sorted in no particular order

Offshore Helicopter Services Market Analysis

The Offshore Helicopter Services Market size is estimated at USD 3.54 billion in 2024, and is expected to reach USD 4.29 billion by 2029, growing at a CAGR of 3.9% during the forecast period (2024-2029).

The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.

  • Over the medium period, major factors driving the market studied are rising deepwater offshore exploration and development activities, due to the growing crude oil demand and little scope for new discovery in land and shallow water areas. As the offshore wind power industry is moving toward deeper and harsher environments, the demand for wind turbine maintenance activity and in turn, offshore helicopter services for the offshore wind industry is expected to increase.
  • On the other hand, the low day rates of crew transfer vessels, coupled with a lack of offshore oil and gas activities, have forced helicopter service providers to reduce their day rates, which negatively impacted their annual revenue.
  • Nevertheless, the recent discovery and upcoming projects in Mediterranean, Guyana, and East Africa are expected to be relatively new and attractive markets for the offshore helicopter services, creating an opportunity for service providers to expand their market presence.

Offshore Helicopter Services Industry Segmentation

Offshore helicopter services are a type of transportation service that involves the use of helicopters to transport personnel and cargo between offshore locations, such as oil rigs, platforms, ships, and onshore bases. Oil and gas, renewable energy, fishing, and search and rescue operations are just a few of the industries that frequently use these services from specialized helicopter companies.

The offshore helicopter services market is segmented by type, end-user industry, application, and geography. By type, the market is segmented into light helicopters, medium and heavy helicopters. By end-user industry, the market is segmented into the oil and gas industry, the offshore wind industry, and other end-user industries. By application, the market is segmented into drilling, production, relocation and decommissioning, and other applications. The report also covers the market size and forecasts for the offshore helicopter services market across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD).

Type
Light Helicopters
Medium and Heavy Helicopters
End-user Industry
Oil and Gas Industry
Offshore Wind Industry
Other End-user Industries
Application
Drilling
Production
Relocation and Decommissioning
Other Applications
Geography
North America
United States of America
Canada
Rest of North America
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Europe
Germany
United Kingdom
France
Rest of the Europe
South America
Brazil
Argentina
Rest of the South America
Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of the Middle East and Africa
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Offshore Helicopter Services Market Size Summary

The offshore helicopter services market is poised for growth, driven by increasing deepwater offshore exploration and the expanding offshore wind power industry. As the demand for crude oil rises and new discoveries in land and shallow water areas become limited, the need for offshore helicopter services to support these activities is expected to grow. The offshore wind power sector, particularly, is moving towards deeper and harsher environments, necessitating more frequent maintenance of wind turbines. This shift is creating new business opportunities for helicopter services, as they become a more economical option for transporting crew members to and from distant offshore wind farms. Despite challenges such as low day rates for crew transfer vessels and reduced offshore oil and gas activities, emerging markets in regions like the Mediterranean, Guyana, and East Africa present opportunities for service providers to expand their presence.

Europe is anticipated to remain the largest market for offshore helicopter services, driven by numerous offshore oil and gas platforms and stringent safety regulations. The United Kingdom, with its rich offshore resource base, is expected to see increased exploration activities, further boosting the market. Similarly, the Norwegian Continental Shelf is poised for growth due to upcoming decommissioning activities, which will require helicopter services. The market is characterized by a concentration of major players, including CHC Group Ltd, Bristow Group Inc., and PHI Inc. Recent acquisitions and contracts, such as those by Ultimate Aviation and Abu Dhabi Aviation, highlight ongoing efforts to enhance service capabilities and fleet expansion. These developments, coupled with the growing offshore decommissioning activities, are expected to drive market growth during the forecast period.

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Offshore Helicopter Services Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD, till 2028

    3. 1.3 Historic and Demand Forecast of Offshore Drilling Rigs in Numbers, till 2028

    4. 1.4 Historic and Demand Forecast of Offshore CAPEX in USD, by Water Depth, 2019-2028

    5. 1.5 Demand Forecast of Offshore CAPEX in USD, by Region, 2019-2028

    6. 1.6 Major Upcoming Offshore Upstream Projects

    7. 1.7 Offshore Support Fleets, by Helicopter Type

    8. 1.8 Recent Trends and Developments

    9. 1.9 Government Policies and Regulations

    10. 1.10 Market Dynamics

      1. 1.10.1 Drivers

        1. 1.10.1.1 Rising Deepwater Offshore Exploration and Development Activities

      2. 1.10.2 Restraints

        1. 1.10.2.1 Increasing Competition from Crew Transfer Vessels

    11. 1.11 Supply Chain Analysis

    12. 1.12 Porter's Five Forces Analysis

      1. 1.12.1 Bargaining Power of Suppliers

      2. 1.12.2 Bargaining Power of Consumers

      3. 1.12.3 Threat of New Entrants

      4. 1.12.4 Threat of Substitute Products and Services

      5. 1.12.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Light Helicopters

      2. 2.1.2 Medium and Heavy Helicopters

    2. 2.2 End-user Industry

      1. 2.2.1 Oil and Gas Industry

      2. 2.2.2 Offshore Wind Industry

      3. 2.2.3 Other End-user Industries

    3. 2.3 Application

      1. 2.3.1 Drilling

      2. 2.3.2 Production

      3. 2.3.3 Relocation and Decommissioning

      4. 2.3.4 Other Applications

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States of America

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Rest of North America

      2. 2.4.2 Asia-Pacific

        1. 2.4.2.1 China

        2. 2.4.2.2 India

        3. 2.4.2.3 Japan

        4. 2.4.2.4 Rest of Asia-Pacific

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Rest of the Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of the South America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 United Arab Emirates

        3. 2.4.5.3 Rest of the Middle East and Africa

Offshore Helicopter Services Market Size FAQs

The Offshore Helicopter Services Market size is expected to reach USD 3.54 billion in 2024 and grow at a CAGR of 3.9% to reach USD 4.29 billion by 2029.

In 2024, the Offshore Helicopter Services Market size is expected to reach USD 3.54 billion.

Offshore Helicopter Services Market Report Snapshots

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