The global helideck monitoring system market size is expected to reach USD 283.7 million by 2028. The increasing utilization of electric propulsion owing to its user-friendliness, faster, reliable, and highly efficient operational benefits will have a tremendous impact on the market, mentioned in a report, titled “Helideck Monitoring System Market Size, Share & COVID-19 Impact Analysis, By Vertical (Marine, Oil & Gas), System (Hardware (Wind, GPS Sensors, Motion, Meteorology), Software), Application (Commercial, Defense), End-Use (OEMs, Aftermarket) and Regional Forecast, 2021-2028.” The market size stood at USD 200.3 million in 2020 and is expected to exhibit a CAGR of 4.37% between 2021 to 2028.
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List of the Leading Companies Profiled in the Global Helideck Monitoring System Market are:
- ABB (Switzerland)
- ASB Systems PVT LTD. (India)
- Automasjon & Data AS (Norway)
- Fugro (The Netherlands)
- KONGSBERG (Norway)
- Miros Group (Norway)
- Observator Group (The Netherlands)
- RH Marine (The Netherlands)
- ShoreConnection International AS (Norway)
- SMC (The U.S.)
- Vaisala (Finland)
Increasing Use of Vessels to Fuel Demand
The growing investments in naval projects are expected to bolster the healthy growth of the market. The increasing utilization of offshore vessels and rigs will demand helideck monitoring systems, in turn, aiding the growth of the market. Moreover, the system provides real-time information to helicopter pilots that can help during potential hazards in offshore operations. Besides, strict safety regulations regarding accidents have led to high demand for such systems, therefore accelerating the growth of the market. However, the cybersecurity concerns about the safety and security of ships and vessels can consequently hamper the growth of the market.
Massive Loss incurred by Oil and Gas Industry during COVID-19 Pandemic
The coronavirus has disrupted the production, transportation, and distribution in the oil and gas industry. Helicopter OEMs are expected to deliver 25% less helicopter due to disrupted supply chains, production halt, and financial crisis. The massive loss suffered by the OEMs will subsequently lead to reduced contracts and investments in the industry. Energy Information Administration (EIA) estimates that global liquid fuel production averaged 91.8 million b/d, which was in the second quarter of 2020 down 8.6 million b/d year over year.
Procurement of Naval Ships to Aid Growth in North America
The market size in North America stood is expected to lead the global market. The growth in the region is attributed to the surging oil and gas industry in the U.S. and Canada. The presence of the highest number of naval ships will further promote growth in the region. The growing expenditure in the defense sector for the procurement of naval ships is expected to stimulate the growth of the market in the region. The market in Europe is predicted to witness rapid growth during the forecast period owing to the existing large number of helicopter fleet in countries such as the U.K, France, Russia, and Germany. The presence of prominent players such as Fugro, Vaisala, Observator Group, RH Marine will foster growth in the region.
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- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
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April 2019: Hensoldt announced the launch of a new flight data recorder for light helicopters. It integrates the latest sensor technology so that it can record flight, audio, and video data. It contains all the sensors for recording data such as temperature, speed, altitude, and direction.
Market Overview and growth analysis
Import and Export Overview
Current Market Trends and Future Outlook
Market Opportunistic and Attractive Investment Segment
North America Market Size and/or Volume
Latin America Market Size and/or Volume
Europe Market Size and/or Volume
Asia-Pacific Market Size and/or Volume
Rest of the world Market Size and/or Volume
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