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Offshore Helicopter Services Market Size to Hit USD 3,227.7 Million by 2026; Increasing Hydrocarbon Exploration Activities to Foster Steady Market Growth, Fortune Business Insights™

Written by Customer Service on . Posted in Mergers And Acquisitions.

Pune, March 27, 2020 (GLOBE NEWSWIRE) — The global offshore helicopter services market size is projected to reach USD 3,227.7 million by 2026, exhibiting a CAGR of 3.17% during the forecast period. Escalating demand for oil and gas worldwide will be the primary growth factor driving this market, finds Fortune Business Insights™ in its recent 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”. The oil & gas helicopter services market growth is premised on the consistently rising demand for oil and gas as primary energy and power sources. According to the International Energy Agency (IEA), in third quarter of 2019, the global demand for oil rose to 1.1 million barrels a day, more than doubling from 435,000 barrels per day from the preceding quarter of the same year. Similarly, the IEA states that global natural gas consumption rose by 4.6% in 2018 from 2017 levels and by 2030, the demand will spike as natural gas will provide a gateway from oil and coal. Thus, steady rise in offshore oil and gas exploration operations to meet the surging demand will drive the Offshore Helicopter Services Market trends.
As per the report, the value of the market stood at USD 2,513.4 million in 2018. In addition to this, the report contains the following:Panoramic overview of the overall industry trends;Careful segmentation of the market and detailed study of all segments;Comprehensive analysis of the factors driving and restricting the growth of the market; andThorough research into the regional dynamics and competitive landscape of the market.Strategic Collaborations to Aid Players’ Global ExpansionThe offshore helicopter services market analysis indicates that the market is set to experience a highly dynamic period owing to the increasing collaborations and partnerships that companies are entering. These joint ventures are becoming a prominent strategy as players are using the enhanced opportunities to expand their global foothold in this market.Abu Dhabi AviationBabcock InternationalCHC HelicoptersCourag Helicopters Inc.Era Group Inc.Gulf Helicopters CompanyHeligo Charters Pvt. Ltd.Omni Helicopters InternationalPHI Inc.Tight Regulations on Helicopter Services to Stem GrowthAviation regulatory bodies have framed tough and rigid rules and laws for operators in the aerospace industry. For instance, helicopter operators need to apply for certification from the US Federal Aviation Administration (FAA) to carry out offshore services. These operators need to abide by stringent norms governing safety of pilots and passengers, transportation of cargo, and inspection, among others. Getting nod from the FAA is a time-consuming process, making it difficult for operators to establish themselves. The case is similar in India where the Directorate General of Civil Aviation (DGCA) has set up tight rules and regulations for monitoring aviation services in general and helicopter services in particular. As a result, the smooth growth trajectory of this market is thwarted by regulatory bumps and is likely to restrict its expansion in the coming years.Regional AnalysisNorth America to Hold a Commanding Market Position; Europe and Asia-Pacific to Grow HealthilyNorth America boasted of market size of USD 707.43 million in 2018 and is poised to lead the offshore helicopter services market share during the forecast period. The primary reason for this is the discovery of shale gas in the region, which has spiked the activity of oil and gas rigs. In Europe, on the other hand, the demand for FAA-certified helicopters is rising, fueling the market in the process. In Asia-Pacific, governments are framing supportive policies to encourage exploration operations especially in China, Australia, Vietnam, and India, which bodes well for the market in the regionIntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Industry Developments –Mergers, Acquisitions and PartnershipsLatest technological AdvancementsPorters Five Forces AnalysisSupply Chain AnalysisGlobal Offshore Helicopter Services Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis, Insights and Forecast – By TypeLight Weight HelicopterMedium Weight HelicopterHeavy Weight HelicopterMarket Analysis, Insights and Forecast – By ApplicationInspectionMonitoring and SurveyingPassenger TransportGoods TransportSearch and RescueOthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia pacificThe Middle East and AfricaLatin AmericaTOC Continued…!
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Industry Developments:February 2020: The UK-based aviation specialist HeliSpeed and Cobham Aviation Services Australia entered into a search-and-rescue (SAR) agreement. Under the partnership, Cobham will support HeliSpeed’s search-and-rescue operations in the Dutch Caribbean island of Curaçao, with HeliSpeed providing Cobham with more than 1200 expert pilots.June 2019: The Canadian helicopter services company CHC Helicopter secured a contract from the German company Wintershall Dea for helicopter services. The award comes in the context of the upcoming drilling program in the Norwegian Sea that Wintershall is slated to head.Have a Look at Related Market Insights:Aircraft Communication System Market Size, Share and Industry Analysis, By Connectivity (SATCOM HF, VHF, UHF), By System (Audio Integrating System, Communication Radios, Radio Tuning System, Cockpit Voice Recorder, and Static Dischargers), By Component (Antenna, Transponder, Receiver, Transmitter, Transceiver), By Platform (Fixed-Wing, Rotary-Wing), By Distribution Channel (OEM, Aftermarket) and Regional Forecast 2019 to 2026Aircraft Antennas Market Size, Share and Industry Analysis By Platform (Fixed-Wing, Rotary-Wing), By Frequency Band (VHF & UHF Band, Ka/Ku/K Band, HF Band, X Band, and C Band Others), By End-User (OEM, Aftermarket), By Application (Communication, Navigation & Surveillance) and Regional Forecast 2019 to 2026Aerospace Fasteners Market Size, Share & Industry Analysis, By Material (Aluminum, Steel, Superalloys, and Titanium), By Product (Rivets, Screws, Nuts & Bolts and others), By Platform (Fixed-wing aircraft (Commercial Aircraft, Business Aircraft, Military Aircraft, and General Aviation Aircraft) and Rotary-wing Aircraft (Civil Helicopter and Military Helicopter)), and Regional Forecast 2019-2026Aerostructures Market Size, Share & Industry Analysis, By Component (Wings, Nose, Fuselage, Nacelle, Empennage & Pylon and Others), By Material (Metals, Composites and Alloys), By Platform (Fixed-wing aircraft (Commercial Aircraft, Military Aircraft, and UAV’s) and Rotary-wing Aircraft (Commercial Aircraft, Military Aircraft, and UAV’s)), and Regional Forecast 2019-2026Aerospace 3D Printing Market Size, Share & Industry Analysis, By Vertical (Printers and Materials), By Industry Type (UAV, Aircraft, and Spacecraft), By Application Type (Engine Components, Space Components, and Structural Components), By Printer Technology Type (DMLS, FDM, CLIP, SLA, SLS and Others), and Regional Forecast 2019-2026About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:
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