BANGALORE, India, November 12, 2015 /PRNewswire/ --
Mordor Intelligence announces the publication of research study on the global market for offshore helicopters. The study is titled "Global Offshore Helicopters Outlook to 2020 - Market Analysis by Geography, Helicopter Class (Medium, Heavy, Light), Competitive Landscape, Key Company Information - Growth Trends and Forecasts".
Demand pull for energy & petro chemicals, due to rapid industrialization and rising population of emerging economies, increasing exploration & production activities, and a rise in number of offshore fields, help drive the offshore helicopters market.
According to Mordor Intelligence estimates, the global offshore helicopter market is expected to reach $5.98 billion by 2020 from $5.03 billion in 2015. It is forecasted that, the market would grow at a CAGR of 3.53 percent during this period. Asia-Pacific is the fastest growing region in this segment followed by Africa.
Get the Full Report Here: Global Offshore Helicopters Outlook to 2020 - Market Analysis by Geography, Helicopter Class (Medium, Heavy, Light), Competitive Landscape, Key Company Information - Growth Trends and Forecasts
Bristow has the largest market share globally. Quality, competitive pricing, lower accident rates, exposure to production than CAPEX activities, and stable revenue base unaffected by market fluctuations give Bristow the competitive edge over other firms in this market. Rivals in the industry are equally balanced in their respective markets. Hence, the competition between existing players is high.
Substantial reduction in spending from companies has ensued after recent decline in oil prices. Helicopter operators and manufacturers are now focusing on fleet optimization, in order to enhance utilization of their existing fleet (through new contract awards and fleet management initiatives) as well as to accelerate disposals of older aircraft types.
Tumble in oil prices has also resulted in companies cutting short their CAPEX spending. However, the demand for offshore helicopters will rise dramatically, once the supply and demand equilibrium is reached and OFS companies increase their CAPEX spending.
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SOURCE Mordor Intelligence LLP