The use of helicopters to support operations in the offshore oil and gas industry as well as other offshore sectors including wind energy, maritime research, and emergency services is referred to as “offshore helicopter services”. These activities include transportation, logistics, search and rescue, and other tasks. The smooth operation of offshore firms depends on these services. They provide efficient, safe, and timely personnel and equipment transportation to and from offshore sites, boats, and platforms. These services cover pre-flight inspections, safety briefings, flight planning, loading and unloading of passengers and cargo, among other things. Helicopters are the primary means of transportation for offshore exploration and production activities because they can reach isolated places and function in inclement weather.
According to SPER Market Research, ’Offshore Helicopter Services Market Size- By Type, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Global Offshore Helicopter Services Market is estimated to reach USD 5.36 billion by 2033 with a CAGR of 6.23%.
The offshore wind sector is expanding quickly, which is predicted to fuel demand for offshore helicopter services. The need for helicopter services in the offshore wind industry is heightened by the need for new installations as well as ongoing monitoring, inspections, and other resource requirements from offshore locations. Like, the International Renewable Energy Agency (IRENA), the Global Wind Energy Council, the offshore wind industry, and the governments of the United States and Denmark formed an alliance and launched the Global Offshore Wind Alliance. The growth of the offshore wind industry has resulted in growth for several companies operating offshore helicopters. The market is also anticipated to increase as a result of growing energy demand and government initiatives to support the expansion of the offshore wind industry.
The history of mishaps involving helicopters, safety records are a major concern. Safety concerns about offshore helicopter services may have an impact on the industry’s growth and service demand. Like, the National Transportation Safety Board (NTSB) reported that the accident rate for helicopters in the United States was much greater than the accident rate for fixed-wing aircraft. It is expected that these problems will restrict the market’s growth. The high operating expenses are expected to be a hindrance to the offshore helicopter services sector. The market’s growth is seriously threatened by issues with fuel, upkeep, insurance, and other things. Operators are also governed by a multitude of operating and safety requirements due to the disparities in national regulatory regimes. It is difficult for service providers to operate in multiple locations as a result.
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The COVID-19 pandemic took a major toll on the economy as lockdowns, travel restrictions, and a decline in economic activity lowered demand for offshore activities in a number of industries. These included search and rescue services as well as worldwide offshore helicopter services. The epidemic disrupted many businesses, particularly offshore operations, as it spread over the world. The oil and gas industry, a major user of offshore helicopter services, saw a significant slowdown as a result of declining demand and oil prices. The need for transportation to and from offshore rigs and platforms decreased as a result of the cancellation or postponement of numerous offshore projects.
The largest share for Global Offshore Helicopter service market is held by United States due to presence of major financial institutions and merchant service providers. Airbus SE, Bristow Group Inc., CHC Helicopter, Falcon Aviation Services, Gulf Helicopters, Heligo Charters Pvt. Ltd. are few of the key players in the market.
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Offshore Helicopter Services Market Outlook
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