Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Offshore helicopter market ‘starting to recover’, report claims

An AugustaWestland AW189 helicopter
An AugustaWestland AW189 helicopter

The offshore helicopter market “has finally started to recover” after three years of difficulty,  a new report by Westwood claims.

Data presented by Westwood Global Energy Group suggests that due to the upswing in offshore project sanctioning there will be exponential growth in the helicopter marketplace.

The helicopter market report forecasts that the sector can expect to see more than £12 billion in expenditure between 2018-2022, with offshore wind related helicopter expenditure calculated to grow by 39%.

Westwood said the sector had “reorganised, restructured and recognised” over the last few years.

Steve Robertson, director and head of oilfield services, said: “Exploration and production (E&P) companies have reigned in expenditure during the downturn. Non-essential operations have been cancelled. Crew rotations are now at longer intervals and fewer aircraft are in the air.

“With the focus on cost, oil companies have been successful at negotiating lower standby rates and are working the rotorcraft they do have contracted harder.”

Last month, helicopter firm Airbus announced it expects the growing offshore wind transport market to add £8 billion to its balance sheet over the next two decades.

Airbus identified wind farms as a business segment undergoing growth and said that it “expects demand for up to a thousand helicopters over the coming two decades”.

The firm confirmed it would provide supply, maintenance and crew transport to a growing number of offshore wind developments.

Recommended for you

More from Energy Voice

Latest Posts