North America Offshore Helicopter Services Market Trends
Statistics for the 2023 & 2024 North America Offshore Helicopter Services market trends, created by Mordor Intelligence™ Industry Reports. North America Offshore Helicopter Services trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.
Market Trends of North America Offshore Helicopter Services Industry
Offshore wind to be the fastest-growing segment
The offshore wind sector is beginning to take off in North America, and the segment is expected to grow massively during the forecast period. Several big wind farms are being built in the area, which is expected to increase the need for offshore helicopter services by a lot over the next few years. In the United States, the total offshore wind installed capacity increased from 29 MW in 2015 to 41 MW at the end of 2022.
According to the United States Department of Energy, by May 2022, the United States offshore wind energy project development and operational pipeline were projected to grow to a potential generating capacity of 40,083 megawatts (MW). Since 2021, the 40,083 MW of offshore wind energy planned for the U.S. has grown by 13.5%.
The U.S. offshore wind energy market is still driven by the activities and policies of the states when it comes to buying offshore wind energy. Policies in eight states about offshore wind energy call for at least 39,322 MW of offshore wind energy capacity to be built by 2040.
In October 2021, BOEM announced its "Offshore Wind Leasing Path Forward 2021-2025," calling for plans to hold up to seven new offshore WEA lease auctions by 2025, including the New York Bight, Carolina Long Bay, the Central Atlantic, the Gulf of Maine, California, Oregon, and the Gulf of Mexico (U.S. Department of the Interior 2021). The new lease areas will make a big difference in the number of viable offshore wind energy sites in the United States. They will also expand the number of regions where offshore wind energy can be used beyond the North Atlantic and mid-Atlantic. The first commercial lease opportunities for floating offshore wind projects will also make it possible to expand the types of technologies that can be used.
The offshore wind market in the region is expected to grow quickly because of these changes, which will increase the need for offshore helicopter services in this sector during the forecast period.
Understand The Key Trends Shaping This Market
The United States to Dominate the Market
The United States dominated the offshore helicopter market in 2022 in the region and is expected to continue its dominance during the forecast period. The country has been very active in offshore exploration in recent years, and the government developed various favorable policies to help oil and gas companies develop offshore prospects.
In 2022, offshore oil and natural gas production in the Federal Gulf of Mexico accounted for about 14.66% of total U.S. crude oil production and about 2% of total U.S. dry natural gas production.
In order to maintain offshore production, the exploration and development activity is moving toward deeper waters, where oil and gas reserves have not been exploited. This trend is expected to drive the demand for medium and heavy helicopters, while the demand for small helicopters for the oil and gas industry is expected to decline during the forecast period.
Additionally, the growth of the offshore wind sector is another factor driving the market during the forecast period. As of May 31, 2022, 24 power purchase agreements1 for offshore wind energy procurement were signed in the United States, adding up to 17,597 MW in offshore wind energy contracts.
Therefore, the rising offshore oil and gas development and an increasing number of offshore wind farms in the country are expected to help grow the offshore helicopter market in the country.
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North America Offshore Helicopter Services Market Report Snapshots
North America Offshore Helicopter Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)
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