The South American offshore helicopter services market is expected to register a CAGR of 2%. Factors, such as an increase in oil and gas exploration in deep water and an increase in subsea wind power installation, are likely to drive the South American offshore helicopter services market. However, advancements in technologies, such as automated drilling rig, are going to have a negative impact on the market as the number of trips made by helicopters to offshore decreases.
– The oil and gas industry segment, due to increasing offshore activities, is held a significant market share in 2018 and is expected to dominate the market during the forecast period.
– The increasing offshore wind installation in Brazil is likely to create an opportunity for the South American offshore helicopter services market in the future.
– Brazil, due to its numerous offshore projects, is expected to be the largest offshore helicopter services in the South American region.
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Key Market Trends
Oil and Gas Segment Expected to Dominate the Market
– The offshore activities directly influence the South America offshore helicopter services market. After oil prices fell in 2014, many countries shifted toward onshore projects. Still, it turned out that the return investment period of onshore projects is 10 to 15 years. Countries such as Brazil started deep-water and ultra-deep-water explorations, which are more profitable, having a return investment period of 5 to 6 years. Contemporary to the above cost of oil rigs also fell which attracted more investment in offshore oil and gas.
– In April 2019, Exxon Mobil Corporation won three blocks in offshore Argentina. The blocks are in the Malvinas basin, approximately 200 miles (320 kilometers) offshore Tierra del Fuego and include MLO-113, MLO-117 and MLO-118. In 2019, Equinor ASA won five blocks in offshore Argentina for the exploration and production of oil and gas.
– Libra oil field in Santos Basin in Brazil is an ultra-deep-water basin, is the largest oil field in Brazil, is under development phase, and is expected to complete in 2021. The development phase will be requiring some transportation facility; this is where offshore helicopter services come into play. This is likely to have a positive impact on the South America offshore helicopter services market in the forecast period.
– Therefore, oil and gas offshore projects in South America are likely to increase the demand for offshore helicopters in the region during 2020 – 2025.
South America Offshore Helicopter Services Market
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