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World Offshore Oil & Gas Helicopter Market Forecast 2015-2019

$19660 - $19660

Release Date

05-06-2015

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PDF

Geographical Coverage

Global

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Resilient helicopter services market to reach new heights
Despite turmoil this year in the oil & gas industry, Douglas-Westwood (DW) forecasts $25 billion in expenditure on
offshore helicopter services between 2015 and 2019 in its new World Offshore Oil & Gas Helicopters Market Forecast
2015-2019. The installed base of manned production infrastructure continues to increase, as does the fleet of offshore
rigs and specialist installation and support vessels. This drives the demand for helicopter services, with forecast spend for
the next five years increasing more than 25%, compared to the preceding five-year period.
Report author, Andy Jenkins, commented, “However, the significant cuts in capital expenditure that we have seen in 2015
will impact the helicopter business with lower than previously-expected levels of drilling and seismic activity. We also
expect to see a delay in the sanctioning of some new offshore production infrastructure.
“Whilst expectations for the coming three years are lower than previously anticipated in our 2014 report (by between -4%
and -7% year-on-year) the overall picture remains a long-term growth story with the offshore helicopter industry expected
to be relatively resilient as the majority of demand will arise from ongoing production phase support.
“The helicopter market is highly dependent on these production phase operations and they are characterised by longterm
contracts. We do note, however, that E&P companies are currently focused on costs through their supply chain and
this is expected to impact renewal rates and new contracts over the next two years.”
Report editor, Steve Robertson, concluded, “The coming years will be an important time for the industry as a new
generation of medium-class helicopters, such as the H175 and AW189, are introduced. These have been developed to
provide higher crew capacity, power and range for a number of industries. These models are highly efficient with new
advanced safety systems and are, therefore, expected to perform well in the offshore arena.
“In the longer term there is the exciting prospect of high speed rotorcraft entering the market. These have the potential to
be a gamechanger in the offshore sector, revolutionising the speed at which personnel can be transferred and the
operating distance of units. AgustaWestland’s AW 609 is expected to be the first commercially available rotorcraft serving
the offshore sector with the potential for others to follow, perhaps building on experience with these craft in the military
sector (such as Bell and Sikorsky).”
Despite turmoil this year in the oil & gas industry, Douglas-Westwood (DW) forecasts $25 billion in expenditure on offshore oil & gas helicopter services between 2015 and 2019.

The installed base of manned production infrastructure continues to increase, as does the fleet of offshore rigs and specialist installation and support vessels. This drives the demand for helicopter services, with our forecast spend for the next five years increasing more than 25%, compared to the preceding five-year period.

However, the significant cuts in capital expenditure that we have seen in 2015 will impact the helicopter business with lower than previously expected levels of drilling and seismic activity. We also expect to see a delay in the sanctioning of some new offshore production infrastructure.

Whilst expectations for the coming three years are lower than previously anticipated in our 2014 report (by between -4% and -7% year-on-year) the overall picture remains a long-term growth story with the offshore helicopter industry expected to be relatively resilient as the majority of demand will arise from ongoing production phase support.

The coming years will be an important time for the industry as a new generation of medium-class helicopters, such as the H175 and AW189, are introduced. These have been developed to provide higher crew capacity, power and range for a number of industries. These models are highly efficient with new advanced safety systems and are, therefore, expected to perform well in the offshore arena.

This is DW’s 2nd edition of the World Offshore Oil & Gas Helicopters Market Forecast and covers all key commercial themes relevant to players across the value chain:

Key drivers – identification and discussion of key underlying drivers and their influence on the offshore helicopter services market.
Supply chain analysis – of contracting processes, helicopter fleet developments, new helicopter models and helicopter procurement trends.
Competitive landscape – covering both helicopter operators and helicopter OEMs.
Regional analysis – summary of growth prospects, key buyers, competitive intensity and typical contracting approach.
Market forecasts – analysis of expenditure, supply and demand development by region (Africa, Asia, Australasia, Latin America, Middle East, North America and Western Europe) from 2015 to 2019.

Why purchase the World Offshore Oil & Gas Helicopters Market Forecast?

DW’s market forecasting is trusted by sector players worldwide, with clients including the world’s top-10 oil & gas companies, top-10 oilfield services companies and top-10 private equity firms.

DW has developed a proprietary model of offshore helicopter spend which is based upon inputs from our in-house project and drilling data, coupled with industry insight gained over nearly 25 years of industry consulting. This has included engagements across the globe for many of the largest helicopter owners, operators and manufacturers. This collective insight is now available as a published research product.

Unique and proprietary data – updated continually from published sources and insight gained from industry consultation.
Methodology – the report uses research from DW’s in-house databases, as well as further primary research, which involved consultations with E&P companies, helicopter operators and helicopter OEMs to obtain the latest information on the offshore helicopters market.
Market forecasts – comprehensive examination, analysis and five-year coverage of expenditure levels, supply and demand from 2015 to 2019.
Concise report layout – consistent with DW’s commitment to delivering value for our clients, all our market forecasts have a concise layout consisting of industry background and supporting materials condensed to enable quick review with ‘speed-read’ summaries of key points throughout.
An essential report – for financial institutions, E&P companies, helicopter leasing companies, operators and OEMs, as well as agencies and organisations engaged in the offshore logistics supply chain. DW reports are expressly designed to help organisations to gain a better understanding of where and when to make investment decisions.

1 Summary and Conclusions 7
Summary 8
Conclusions 9

2 Macro Economic Outlook 10
Population & GDP Growth Drive Energy Demand 11
Regional Offshore Production Outlook 12
Oil – Supply & Demand 13
Oil Price Volatility 14
Power Generation 15
Offshore Oil & Gas16
Oil Majors – End of Business as Usual? 17
The Importance of Deepwater 18
Oil & Gas Challenges 19

3 Drivers 20
Offshore Helicopter Drivers 21
Key Definitions 22
Offshore Wells Drilled 23
Offshore Asset Installations 24
Offshore Fixed & Floating Platform Population 25
Offshore Maintenance, Modifications & Operations 26
Offshore O&G Passenger Transportation Demand 27

4 Supply Chain 28
Helicopter Classification 29
Contracting Process 30
Tender Process 31
Renewals 32
Helicopter Fleet – Positioning 33
Helicopter Operators – Market Positioning 34
Overview of Offshore Passenger Transportation 35
Buying Power 36
Leasing Contracts 37
Global Helicopter Supply: Evolution of Size 38
Manufacturer Review 39

5 Regional Market Analysis 41
Methodology & Limitations 42
Regional Market Characteristics 43
Helicopter Regional Characteristics 44
Regional Summary 45
Africa: Expenditure Outlook 46
Africa: Supply & Demand Outlook 47
Asia: Expenditure Forecast 48
Asia: Supply & Demand Outlook 49
Australasia: Expenditure Forecast 50
Australasia: Supply & Demand Outlook 51
Eastern Europe & FSU: Expenditure Forecast 52
Eastern Europe & FSU: Supply & Demand Outlook 53
Latin America: Expenditure Forecast 54
Latin America: Supply & Demand Outlook 55
Middle East: Expenditure Forecast 56
Middle East: Supply & Demand Outlook 57
North America: Expenditure Forecast 58
North America: Supply & Demand Outlook 59
Western Europe: Expenditure Forecast 60
Western Europe: Supply & Demand Outlook 61

6 Appendix 62
Data and Text Conventions 63

Table 1: Selected Majors’ Oil Production 2002-2014 17
Table 2: Specifications by Helicopter Type 29
Table 3: Global Construction Overview 1960-2017 38
Table 4: Regional Market Characteristics 43
Table 5: Helicopter Regional Characteristics 44
Table 6: Global Expenditure by Region 2014-2019 45
Table 7: Africa Expenditure by Helicopter Type 2014-2019 46
Table 8: Top Helicopter Types Available in the African Market 47
Table 9: Asia Expenditure by Helicopter Type 2014-2019 48
Table 10: Top Helicopter Types Available in the Asian Market 49
Table 11: Australasia Expenditure by Helicopter Type 2014-2019 50
Table 12: Top Helicopter Types Available in the Australasian Market 51
Table 13: Eastern Europe & FSU Expenditure by Helicopter Type 2014-2019 52
Table 14: Top Helicopter Types Available in the Eastern Europe & FSU Market 53
Table 15: Latin America Expenditure by Helicopter Type 2014-2019 54
Table 16: Top Helicopter Types Available in the Latin America Market 55
Table 17: Middle East Expenditure by Helicopter Type 2014-2019 56
Table 18: Top Helicopter Types Available in the Middle Eastern Market 57
Table 19: North America Expenditure by Helicopter Type 2014-2019 58
Table 20: Top Helicopter Types Available in the North American Market 59
Table 21: Western Europe Expenditure by Helicopter Type 2014-2019 60
Table 22: Top Helicopter Types Available in the Western European Market 61Figure 1: Global Population Growth & Energy Demand, 1965-2035 11
Figure 2: Historic Primary Energy Demand by Region, 1965-2013 11
Figure 3: Deepwater and Shallow Water Production by Region, 2015-2020 12
Figure 4: Oil Price & Demand 1990-2014 13
Figure 5: World Liquids Production Growth, 2005-2014 13
Figure 6: Oil Price to Balance Budgets vs Current Brent at $65 14
Figure 7: Historical Brent and WTI Oil Prices, January 2005 – January 2015 14
Figure 8: Levellised Cost of Energy ($/mwh) 15
Figure 9: Cumulative Capacity by Country, 2015-2024 15
Figure 10: Global Oil Supply – Onshore/Offshore Split 2000-2020 16
Figure 11: Global Deepwater Capex by Region 2009-2018 16
Figure 12: Control of Oil Reserves 17
Figure 13: Deepwater Focus Areas 18
Figure 14: Oil & Gas Production vs E&P Spend 19
Figure 15: Skilled Workers Age Category 19
Figure 16: Shallow Water (<500m) Wells Drilled 2000-2020 23 Figure 17: Deepwater (>500m) Wells Drilled 2000-2020 23
Figure 18: Fixed and Floating Platform Installations 2002-2020 24
Figure 19: Subsea Tree Installations and Subsea Capex 2002-2020 24
Figure 21: Total Platform Population by Region, 2015 25
Figure 20: Fixed and Floating Platform Population by Region, 2015-2020 25
Figure 22: Offshore MMO Expenditure on Fixed and Floating Platforms 2009-2020 26
Figure 23: Contracting Process 30
Figure 24: Share of Helicopter Providers by Operator 32
Figure 25: Global Construction Overview 1960-2017 38
Figure 26: Global Offshore Helicopter Expenditure 2014-2019 45
Figure 27: Global Medium Helicopter Demand Segmentation 2015-2019 45
Figure 28: Global Large Helicopter Demand Segmentation 2015-2019 45
Figure 29: Africa Helicopter Expenditure 2010-2019 46
Figure 30: Africa Expenditure Based on Helicopter Type 2015-2019 46
Figure 31: Demand by Operator Type 2015-2019 46
Figure 32: Africa Medium Helicopter Supply & Demand Outlook 2010-2019 47
Figure 33: Africa Large Helicopter Supply & Demand Outlook 2010-2019 47
Figure 34: Africa Demand Segmentation 2015-2019 47
Figure 35: Asia Helicopter Expenditure 2010-2019 48
Figure 36: Asia Expenditure Based on Helicopter Type 2015-2019 48
Figure 37: Asia Demand by Operator Type 2015-2019 48
Figure 38: Asia Medium Helicopter Supply & Demand Outlook 2010-2019 49
Figure 39: Asia Large Helicopter Supply & Demand Outlook 2010-2019 49
Figure 40: Asia Demand Segmentation 2015-2019 49
Figure 41: Australasia Helicopter Expenditure 2010-2019 50
Figure 42: Australasia Expenditure Based on Helicopter Type 2015-2019 50
Figure 43: Australasia Demand by Operator Type 2015-2019 50
Figure 44: Australasia Medium Helicopter Supply & Demand Outlook 2010-2019 51
Figure 45: Australasia Large Helicopter Supply & Demand Outlook 2010-2019 51
Figure 46: Australasia Demand Segmentation 2015-2019 51
Figure 47: EEurope & FSU Helicopter Expenditure 2010-2019 52
Figure 48: EEurope & FSU Expenditure Based on Helicopter Type 2015-2019 52
Figure 49: EEurope & FSU Demand by Operator Type 2015-2019 52
Figure 50: EEurope & FSU Medium Helicopter Supply & Demand Outlook 2010-2019 53
Figure 51: EEurope & FSU Large Helicopter Supply & Demand Outlook 2010-2019 53
Figure 52: EEurope & FSU Demand Segmentation 2015-2019 53
Figure 53: Latin America Helicopter Expenditure 2010-2019 54
Figure 54: Latin America Expenditure Based on Helicopter Type 2015-2019 54
Figure 55: Latin America Demand by Operator Type 2015-2019 54
Figure 56: Latin America Medium Helicopter Supply & Demand Outlook 2010-2019 55
Figure 57: Latin America Large Helicopter Supply & Demand Outlook 2010-2019 55
Figure 58: Latin America Demand Segmentation 2015-2019 55
Figure 59: Middle East Helicopter Expenditure 2010-2019 56
Figure 60: Middle East Expenditure Based on Helicopter Type 2015-2019 56
Figure 61: Middle East Demand by Operator Type 2015-2019 56
Figure 62: Middle East Medium Helicopter Supply & Demand Outlook 2010-2019 57
Figure 63: Middle East Large Helicopter Supply & Demand Outlook 2010-2019 57
Figure 64: Middle East Demand Segmentation 2015-2019 57
Figure 65: North America Helicopter Expenditure 2010-2019 58
Figure 66: North America Expenditure Based on Helicopter Type 2015-2019 58
Figure 67: North America Demand by Operator Type 2015-2019 58
Figure 68: North America Medium Helicopter Supply & Demand Outlook 2010-2019 59
Figure 69: North America Large Helicopter Supply & Demand Outlook 2010-2019 59
Figure 70: North America Demand Segmentation 2015-2019 59
Figure 71: Western Europe Helicopter Expenditure 2010-2019 60
Figure 72: Western Europe Expenditure Based on Helicopter Type 2015-2019 60
Figure 73: Western Europe Demand by Operator Type 2015-2019 60
Figure 74: Western Europe Medium Helicopter Supply & Demand Outlook 2010-2019 61
Figure 75: Western Europe Large Helicopter Supply & Demand Outlook 2010-2019 61
Figure 76: Western Europe Demand Segmentation 2015-2019 61

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Douglas-Westwood Ltd