Page 18 - AAA MAY / JULY 2024 Digital Magazine | GBP
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helicopters, which is facing says. the Leonardo AW139, Sikorsky
supply chain issues and cost S-92, Sikorsky S-76, Bell 412,
increases, is expected to register Helicopter lease-related trans- Bell 407, AS365 and Bell 206
a small recovery compared to actions touched new heights in take the top 7 spots in terms of
recent years but experts believe the 2022-2023 period. Over 200 the offshore fleet’ Together, the
that a return to pre-2015 levels is lease transactions took place in models account for about 70% of
unlikely. 2023, slightly less than in 2022 all helicopters in offshore usage.
but still significantly higher than The offshore helicopter market,
Sustained Growth previous years. It was new deliv- which is dependent on the price
eries that drove the growth of the
Although the expected take- leased fleet in 2022 and 2023. of oil and gas, has Asia and
off of the advanced air mobility The leased helicopter fleet, North America in the lead when
(AAM) industry may impact which was 10.56 per cent of the it comes to demand, followed by
the prospects of the ultra-light overall helicopter fleet in the first Europe and South Africa. Higher
helicopter segment, the com- quarter of 2024, is expected to costs are often associated with
mercial helicopters market grow significantly and reach 15% offshore helicopters due to
size - estimated at US$683.24 by the end of the decade. specific safety requirements that
million in 2024, is forecast to require new equipment orders.
reach US$ 894.49 million by An increasing number of heli-
2029, growing at a CAGR of copter retirements is anticipated Driving Demand
5.54% during the period. Going over the next 5-10 years, with
by weight segments, super leased helicopters that are EMS helicopter demand has
medium and medium helicopters over 20 years old expected to spiked in the Asia Pacific region,
are expected to be the primary be replaced with similar-sized which has traditionally been a
catalysts for the growth of the models to maintain operational smaller market compared to the
market. readiness. A significant number U.S. and European markets.
of retired helicopters will be The market growth has as much
Fleet expansion and new heli- replaced by helicopters in multi-
copter deliveries are likely to role configurations. to do with demand as with the
outpace retirements. Driving finance and investment oppor-
market growth is the growing The top three helicopter models tunities available in the region.
demand for helicopters for var- that are leased include H125, The demand for EMS helicop-
ious applications and end-user with the type being favoured by ters is fuelled by region-specific
industries, such as oil and gas operators for low operational factors; hospital and private
and law enforcement. With cus- costs and flexibility. Among sector needs are the catalyst in
tomers showing their preference medium helicopters, the AW139 North America while in Europe,
for multi-mission helicopters, is one of the most leased demand is driven by governmen-
OEMs have been focusing on models. Among other popular tal public sector needs. South
incorporating advanced technol- choices are the H135 and H145. America and Africa are also
ogies as well as enhancing the The average age of leased seeing an increase in demand
ergonomics and safety aspects helicopters is about 17 years, for EMS helicopters.
of such aircraft. with ultra-light models having the
highest average age of 22 years. The use of helicopters for
Leasing Market windfarm inspection and main-
According to Rami Abdel Aziz, A Growing Market tenance is trending up, with
Manager, Helicopters at avia- Helicopters are critical for off- medium helicopters being
tion intelligence and advisory shore operations in the oil, gas, increasingly used, especially
company IBA, there is a growing and wind sectors, as they pro- in Europe. The offshore oil and
trend of customers moving away vide transportation and other gas market continues to be a
from purchasing helicopters capabilities in what are chal- significant segment for helicopter
outright with cash to financing lenging terrains. According to lessors, with safety require-
them. The light helicopter market Eric Tamang, Valuations analyst, ments for helicopters serving this
is increasing leasing activity, he Cirium Ascend Consultancy, market driving new orders.
18 | MAY - JULY 2024 WWW.GBP.COM.SG/AAA
