North Sea Offshore Helicopter Services Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North Sea Offshore Helicopter Services Market Analysis
The north sea offshore helicopter services market is expected to grow at a CAGR of more than 2% in the forecast period of 2022-2027. During the pandemic, a sharp decline in offshore activity severely impacted the oil & gas and offshore wind farm industry. This can be ascribed to the lower demand for oil & gas in the worldwide market and decreased investment in offshore wind projects. However, post-pandemic governments and companies investing in offshore activities are expected to drive the offshore helicopter services market in the near future. However, declining offshore oil & gas activity in the north sea is anticipated to restrain the north sea offshore helicopter services market.
- The offshore wind farm segment is anticipated to grow with a high CAGR during the forecast period, leading to increased demand for helicopter services for new installation and maintenance of existing wind farms. Thus increased investment in offshore wind farms is likely to drive the market during the forecast period.
- New discoveries of oil fields in the north sea region and private companies investing in oil & gas exploration and production are anticipated to drive the market.
- The United Kingdom is expected to be leading country in helicopter services market, owing to the presence of higher number of ongoing projects during the forecast period.
North Sea Offshore Helicopter Services Market Trends
This section covers the major market trends shaping the North Sea Offshore Helicopter Services Market according to our research experts:
Increase in Number of Offshore Wind Farms
- The North sea region is considered one of the leading regions in the world for offshore wind energy project development. This can be ascribed to the region's advantages, including relatively shallow waters, favourable wind patterns, and easy access to ports and energy-consuming industries.
- In 2012, in the North Sea region, the total cumulative installation of offshore wind energy projects was around 4.5 GW which has significantly increased in the last decade and reached 27.8GW in 2021.
- The countries such as Belgium, Denmark, Germany, the Netherlands, and United Kingdom are the leading countries in the region to install offshore wind farms. In 2021, in Belgium, the total offshore wind energy capacity was around 2,262 MW; in Denmark, it was about 2,306; in Germany, it was about 7,747 MW; in the Netherlands was 2,460 MW, and the United was around 12,700 MW.
- In 2022, the four major countries in the North Sea region Germany, Belgium, the Netherlands and Denmark, aim to develop 150 GW of offshore wind capacity in the North Sea to achieve the European Union's net-zero emission and lower dependency on Russian energy.
- In 2022, the Netherlands Enterprise Agency designed the North Sea Agreement to facilitate the offshore wind project in the North Sea region. This agreement details the government's plans to explore the space for 20 GW to 40 GW offshore wind capacity by 2027.
- Furthermore, private companies are also investing in the North Sea region in offshore energy projects; for instance, in 2022, BP plc. is committed to investing USD 22.52 billion in offshore wind farms by 2030. BP plc., in partnership with EnBW, aims to develop an offshore farm with a capacity of 3 GW.
- This development in offshore wind farms would lead to a rise in the requirement for offshore helicopter services. Resulting in driving the Offshore Helicopter Services market during the forecast period
The United Kingdom to Dominate the Market
- The United Kingdom is the leading offshore energy producer in Europe and the second largest producer in the world after China. In 2012, in the United Kingdom, the total offshore energy installation capacity was 2,995 MW, and it reached 12,700 MW in 2021. In terms of global offshore wind energy installation, The United kingdom contributed around 23% in 2021.
- The United Kingdom government considers offshore wind projects a significant opportunity for economic growth for the country's development. Thus it has developed government policies and programs to support the offshore wind energy sector.
- Furthermore, the United Kingdom has set ambitious climate targets to achieve, which include net-zero emissions by 2050, and offshore wind farms could play a vital role in achieving their environmental goals. Hence, the government provides financial support, funding, and tax benefits.
- Moreover, the United Kingdom and various private companies are investing in offshore wind projects in the United Kingdom; for instance, in January 2022, the United Kingdom aims to fund a floating offshore wind project. The total investment is anticipated to be around GBP 60 million.
- Furthermore, the United Kingdom is the leading country in European offshore oil & gas activity. Moreover, the government has more than 200 oil and gas fields operating in the Nor; these fields are responsible for the supply of approximately half of The United Kingdom's gas needs.
- Furthermore, companies are investing in the oil & gas industry, particularly in the North Sea. For instance, in July 2022, United Oil & Gas discovered an oil & gas field which would need an investment of around USD 545 million in the near future. According to the company, the field is expected to have 6 million barrels of oil equivalent to oil & gas reserves. Further, the company aims to develop the field in 2024 and the first production by 2025.
- All these offshore investments in the wind and oil & gas industry are expected to propel the demand for helicopter services in the North Sea region. Hence increased investment by the United Kingdom in offshore activity is expected to drive the North Sea Offshore Helicopter Services Market in the forecast period.
North Sea Offshore Helicopter Services Industry Overview
The North Sea Offshore Helicopter Services Market market is moderately competitive. Some of the key players in the market include Bristow Group Inc., NSEG, Heli Service International GmbH, WIKING Helikopter Service GmbH, and The British International Helicopter.
North Sea Offshore Helicopter Services Market Leaders
Bristow Group Inc.
NSEG
Heli Service International GmbH
WIKING Helikopter Service GmbH
The British International Helicopter
*Disclaimer: Major Players sorted in no particular order
North Sea Offshore Helicopter Services Market News
- In August 2022, Bristow Group Inc. announced that the company had completed its acquisition of British International Helicopter Services Limited. With this acquisition, Bristow Group Inc. would be able to provide service to both military and civilian markets.
- In August 2022, HeliService International had a contract with TenneT organised to procure helicopter services for offshore converter platforms, and offshore substations of wind farm operators, in Germany.
North Sea Offshore Helicopter Services Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD million, till 2025
4.3 Historic and Demand Forecast of Offshore Drilling Rigs in Numbers, till 2025
4.4 Historic and Demand Forecast of Offshore CAPEX in USD billion, by Water Depth, 2015-2025
4.5 Demand Forecast of Offshore CAPEX in USD billion, by Region, 2018-2025
4.6 Major Upcoming Offshore Upstream Projects
4.7 Offshore Support Fleets, by Helicopter Type, 2015-2018
4.8 Recent Trends and Developments
4.9 Government Policies and Regulations
4.10 Market Dynamics
4.10.1 Drivers
4.10.2 Restraints
4.11 Supply Chain Analysis
4.12 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Light Helicopters
5.1.2 Medium and Heavy Helicopters
5.2 End-user Industry
5.2.1 Oil and Gas Industry
5.2.2 Offshore Wind Industry
5.2.3 Other End-user Industries
5.3 Geography
5.3.1 The United Kingdom
5.3.2 Norway
5.3.3 Denmark
5.3.4 Germany
5.3.5 the Netherlands
5.3.6 Belgium
5.3.7 France
6. COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Service Providers
6.3.1.1 Bristow Group Inc.
6.3.1.2 NSEG
6.3.1.3 Heli Service International GmbH
6.3.1.4 WIKING Helikopter Service GmbH
6.3.1.5 The British International Helicopter
6.3.1.6 NHV GROUP
6.3.2 Helicopter Manufacturers
6.3.2.1 Airbus SE
6.3.2.2 Leonardo S.p.A.
6.3.2.3 Textron Inc.
6.3.2.4 Lockheed Martin Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North Sea Offshore Helicopter Services Industry Segmentation
The Scope of the North Sea Offshore Helicopter Services Market:-
| Type | |
| Light Helicopters | |
| Medium and Heavy Helicopters |
| End-user Industry | |
| Oil and Gas Industry | |
| Offshore Wind Industry | |
| Other End-user Industries |
| Geography | |
| The United Kingdom | |
| Norway | |
| Denmark | |
| Germany | |
| the Netherlands | |
| Belgium | |
| France |
North Sea Offshore Helicopter Services Market Research FAQs
What is the current North Sea Offshore Helicopter Services Market size?
The North Sea Offshore Helicopter Services Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in North Sea Offshore Helicopter Services Market?
Bristow Group Inc., NSEG, Heli Service International GmbH, WIKING Helikopter Service GmbH and The British International Helicopter are the major companies operating in the North Sea Offshore Helicopter Services Market.
What years does this North Sea Offshore Helicopter Services Market cover?
The report covers the North Sea Offshore Helicopter Services Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the North Sea Offshore Helicopter Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North Sea Offshore Helicopter Services Industry Report
Statistics for the 2024 North Sea Offshore Helicopter Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North Sea Offshore Helicopter Services analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
