It is estimated that by 2050, world population will reach nine billion with most of the growth occurring in developing countries. Much of the population in these countries will be younger than populace of developed nations; which will create an influx of cheap labor. This availability of cheap labor will push manufacturing and other sectors towards emerging nations thereby increasing their economic growth and energy consumption. Moreover, as quality of life in these countries increases, its population will climb up the energy ladder, leading to a greater demand for energy and petro-chemicals, especially from China and India.
On back of above mentioned factors, coupled with others (like lack of proper alternative energy sources), global oil & gas demand is expected to double by 2050. To meet this demand Oil & Gas exploration is moving into deeper waters and towards unconventional sources like shale plays. As of now, thirty five percent of conventional oil is produced from offshore areas and its share is set to increase in future. This in turn will result in spending in Offshore Helicopter industry, which is expected to double (as helicopters are work horses for offshore industry).
North Sea region has largest share in global offshore helicopter market. Globally, demand for medium sized helicopters is huge and these type of helicopters have far higher market size, say half, based on segmentation by size. However, demand for large range and capacity helicopters is high in North Sea region. Bristow is the market leader in offshore helicopter services followed by CHC.
This report comprehensively analyzes the offshore helicopters market by segmenting it based on geography, and helicopter class (light, medium and heavy). Estimates in each segment are provided for the next six years. Key drivers and restraints that are effecting the growth of this market were discussed in detail. The study also elucidates on competitive landscape and key market players. Key players of both offshore helicopter service providers and OEMs of offshore helicopters are discussed in detail.
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