Market Size of North Sea Offshore Helicopter Services Industry
| 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.
