Helicopter Fleet Report - YE2020
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SPECIAL FEATURE:<br />
OFFSHORE WIND ROTORCRAFT –<br />
THE ENERGY TRANSITION IS UPON US<br />
Offshore wind has become a major global industry with many multi-billion-dollar projects being<br />
constructed every year. As these projects become larger and further from shore rotorcraft have become<br />
a key part of the supply chain in construction and maintenance. Whilst OEMs have been quick to highlight<br />
the potential for the sector as a major new growth opportunity for rotorcraft.<br />
Steve Robertson and George Venturas of Air & Sea<br />
Analytics share their thoughts on the emerging<br />
opportunity for rotorcraft in the offshore wind business.<br />
Air & Sea Analytics has published a new report that takes<br />
a ‘deep dive’ into the offshore wind rotorcraft sector. The<br />
report is intended to provide the industry with a view of the<br />
current status and outlook for the offshore wind rotorcraft<br />
market. Air & Sea Analytics has partnered with Asian Sky<br />
Group under an exclusive MOU that covers the Asia-Pacific<br />
markets and is delighted to share the headline outcomes<br />
from the latest study.<br />
Offshore wind has become a major global industry with<br />
many multi-billion-dollar projects being constructed every<br />
year. As these projects become larger and further from<br />
shore rotorcraft have become a key part of the supply chain<br />
in construction and maintenance. Whilst OEMs have been<br />
quick to highlight the potential for the sector as a major<br />
new growth opportunity for rotorcraft, the industry has been<br />
somewhat opaque in recent years with little clarity on how<br />
many aircraft are currently servicing the industry (last year<br />
estimates from third parties ranged from 11-40 aircraft) and<br />
how many are required in the future.<br />
The purpose of the latest research from Air & Sea Analytics<br />
is to explain the drivers of demand for this important<br />
sector, build a forecast of future activity based on a<br />
granular project by project analysis and translate this to<br />
demand for rotorcraft.<br />
A RENEWABLE ENERGY REVOLUTION IS UPON US<br />
The scale of renewable energy projects of all types has been<br />
increasing as the technology matures. Offshore, in contract<br />
to other technologies (such as wave and tidal devices) the<br />
wind industry has matured well with proven technology<br />
and a consolidated supply chain of OEMs and engineering<br />
contractors. Individual projects have grown in scale to<br />
become, in many cases, multi-billion dollar ‘mega projects’<br />
that attract global engineering and service companies. The<br />
days of ‘cottage industry’ are long gone.<br />
Over the next ten years we expect to see over half a trillion<br />
dollars of investment in the offshore wind business (based<br />
on currently-visible projects). In a ‘good year’ the upstream<br />
oil business might see this sum of Capex in a single year.<br />
Depressed oil prices in 2020, however, pushed investment<br />
to a low of $300 billion.<br />
36 ASIA-PACIFIC CIVIL HELICOPTER FLEET REPORT – YEAR END 2020
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