Off-shore Helicopters Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Off-shore Helicopters Market Analysis
The Off-Shore Helicopter Market is expected to grow at a CAGR of 5% during the forecast period.
The COVID-19 pandemic had a moderate effect on the market. But the market became stable within a short time and has also grown in 2021 and 2022. With the increase in fuel prices and the increase in demand for fuel, companies have started new oil and gas rig installation projects, which has resulted in an increase in the off-shore helicopters market. Companies also opt for leasing the helicopters instead of purchasing them, which also generated revenue for the market, further resulting in market growth.
Off-shore Helicopters Market Trends
This section covers the major market trends shaping the Off-shore Helicopters Market according to our research experts:
The oil and gas accounted for largest share in 2022 and is expected register high growth during the forecast period
The oil and gas segment held the market's largest share in 2022 and is expected to continue its growth during the forecast period. With the increase in fuel prices, oil, and gas firms are installing more offshore stations for extracting oil and gas, which increases the demand for offshore helicopters, as they would be used for crew and cargo transportation. Many oil and gas rig production plant is under construction which is likely to propel the demand in coming years. For instance, a new LNG export terminal construction work started in the second quarter of 2022 and is expected to be completed by the end of 2025.
Many oil & gas producing companies are securing long-term contracts with helicopter companies to ensure the service for the long term. For instance, in October 2022, Gama Aviation announced that its joint venture with Bond Helicopters has been awarded a contract for supporting offshore operations by an international oil & gas firm. The contract is for a period of 5 years and will start in January 2024. In July 2021, Gazprom, a Russian state-owned energy company, signed an agreement with Russian Helicopters to purchase the Mi-171A3 helicopter for its offshore operations.
Asia-Pacific Expected to Grow During the Forecast period
With the increase in gas and oil extraction in the region, the Offshore Helicopter market is expected to grow in the Asia-Pacific region. With recent tensions and frequent airlifts, the market is expected to grow as most countries opt for search and rescue operations. Also, regional companies are building uncrewed helicopters for offshore operations. In July 2022, China-based CITIC offshore Helicopters Company (COHC) signed a contract with Leonardo to acquire four AW139 Helicopters from Leonardo for Offshore Oil and Gas production operations. The delivery of the helicopters will be done in 2022 and 2023.
In the wake of growing demand, many helicopter service companies have incorporated fleet expansion plans to cater to the emerging market. For instance, With the new four helicopters, the total Leonardo fleet of the company will increase to 10. Along with new purchases, companies are also leasing helicopters for their offshore operations, resulting in the market's growth. In March 2022, during India's premier civil aviation air show in Hyderabad, a company under the Ministry of Civil Aviation, Pawan Hans, announced that it has leased six Sikorsky S-76D helicopters from Milestone Aviation Group, which the company intends to use for its onshore and offshore operations by the Oil and Natural Gas Corporation (ONGC). Such developments are likely to drive market growth over the forecast period.
Off-shore Helicopters Industry Overview
The market for off-shore Helicopters is moderately consolidated. Airbus SE, Leonardo SpA, Textron Inc, Lockheed Martin, and Russian Helicopters are the prominent players in the market. In November 2021, Airbus Helicopters delivered the first five-bladed H145 helicopter to HTM Helicopters. This helicopter will be used for passenger transport to and from wind farms and for hoisting technicians to wind turbines. With such new helicopters and coordination between helicopter service companies and OEMs, the market is expected to grow steadily during the forecast period.
Off-shore Helicopters Market Leaders
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Airbus SE
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Textron Inc
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Leonardo SpA
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Lockheed Martin
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Russian Helicopters
*Disclaimer: Major Players sorted in no particular order
Off-shore Helicopters Market News
October 2022: Gama Aviation and Bond Helicopters won a contract for offshore helicopter operations from an international oil & gas firm.
September 2022: Bristow Group announced that it had received a multi-year contract from Equinor, Norway's state-owned energy company, for its search and rescue operations. The contract es expected to start in September 2023.
April 2022: Orsted and Eversource, the US Offshore wind sector development partners, signed a contract with German helicopter service provider HeliService International for the helicopter-enabled crew change operations for the wind projects in South Fork, Revolution, and Sunrise.
Off-shore Helicopters Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Weight
5.1.1 Light
5.1.2 Medium
5.1.3 Heavy
5.2 By Application
5.2.1 Search and Rescue
5.2.2 Transportation
5.3 By End-use Industry
5.3.1 Oil and Gas Industry
5.3.2 Offshore Wind Turbines
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 Russia
5.4.2.4 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 South Korea
5.4.3.5 Rest of Asia-Pacific
5.4.4 Latin America
5.4.4.1 Brazil
5.4.4.2 Mexico
5.4.4.3 Rest of Latin America
5.4.5 Middle East and Africa
5.4.5.1 United Arab Emirates
5.4.5.2 Saudi Arabia
5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Airbus SE
6.2.2 Leonardo SpA
6.2.3 Lockheed Martin Corporation
6.2.4 Textron Inc
6.2.5 The Boeing Company
6.2.6 MD Helicopters
6.2.7 Russian Helicopters
6.2.8 Hindustan Aeronautics Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Off-shore Helicopters Industry Segmentation
The helicopters used over a large water body for a long duration are called offshore helicopters. The offshore helicopter market is segmented by weight, application, end-use industry, and geography. By weight, the market is segmented into Light, Medium and Heavy. By application, the market is segmented into search and rescue and transportation. By end-use industry, the market is segmented into Oil and Gas and Off-shore wind turbines. By Geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa, and the rest of the world. The report also covers the market sizes and forecasts for the market in major countries across different regions. The market sizing and forecasts have been provided in value (USD million).
| By Weight | |
| Light | |
| Medium | |
| Heavy |
| By Application | |
| Search and Rescue | |
| Transportation |
| By End-use Industry | |
| Oil and Gas Industry | |
| Offshore Wind Turbines |
| By Geography | |||||||
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Off-shore Helicopters Market Research FAQs
What is the current Off-shore Helicopters Market size?
The Off-shore Helicopters Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Off-shore Helicopters Market?
Airbus SE, Textron Inc, Leonardo SpA, Lockheed Martin and Russian Helicopters are the major companies operating in the Off-shore Helicopters Market.
Which is the fastest growing region in Off-shore Helicopters Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Off-shore Helicopters Market?
In 2024, the North America accounts for the largest market share in Off-shore Helicopters Market.
What years does this Off-shore Helicopters Market cover?
The report covers the Off-shore Helicopters Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Off-shore Helicopters Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Off-shore Helicopters Industry Report
Statistics for the 2024 Off-shore Helicopters market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Off-shore Helicopters analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
