North America Offshore Helicopter Market - Growth, Trends, and Forecast (2018 - 2023)
North America continues to remain as a potential region for the offshore helicopter services industry. Combined with revenues from European countries, North America grosses more than half of the total revenue for the offshore helicopter services industry. With the rising demand for energy, offshore activities, particularly exploration and production (E&P) activities by major international offshore energy companies in the offshore North America regions have recorded significant growth. This has benefitted the offshore helicopters services industry, as it is an essential part of the offshore oil & gas logistics operations, especially in the Gulf of Mexico (GOM) region. Moreover, the increased E&P activities across the deepwater and ultra-deepwater fields in GOM region, owing to the recovery of crude oil prices to sustainable levels, is expected to further drive the market during the forecast period.
Gulf of Mexico Poised to Play a Vital Role
The US GOM is the most important offshore energy producing region, and one of the most mature oil provinces in North America. The region consists of both shallow and deepwater. A substantial number of producing fields in shallow water are in their declining phase, and therefore, the oil & gas companies are planning to move toward deepwater from shallow water.
In December 2016, British Petroleum had sanctioned the Mad Dog Phase 2 Project in the deepwater US Gulf of Mexico. The project, slated to begin production by 2021, will include a floating production platform with the capacity to produce up to 140,000 barrels of crude oil, from up to 14 production wells. Similar activities in the deepwater areas are expected to get initiated soon, which is likely to propel the demand for offshore helicopter services in GOM during the forecast period.
Deepwater exploration and production in the Gulf of Mexico are likely to drive the demand for medium and heavy helicopter, to provide necessary services to the platforms. Furthermore, with the adoption of more complex services on ultra-deepwater and deepwater installations, increased regulatory support and more frequent rotation of increasingly larger crews at regular intervals, the demand for heavy and medium helicopters in the region is expected to grow substantially during the forecast period.
The major players include - Bristow Group Inc., CHC Group Ltd, Era Group Inc., PHI Inc., Cougar Helicopters Inc., Airbus Group SE, Leonardo SpA, Textron Inc., Lockheed Martin Corporation, and Russian Helicopters JSC, amongst others.
Reasons to Purchase this Report
Current and future North America offshore helicopters market outlook in the developed and emerging markets.
Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
The segment that is expected to dominate the market.
The countries that are expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
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