Helideck Monitoring System Market Forecasts to 2028 – Global Analysis By Vertical (Marine and Oil & Gas), System (Software and Hardware), Application and Geography

Helideck Monitoring System Market Forecasts to 2028 – Global Analysis By Vertical (Marine and Oil & Gas), System (Software and Hardware), Application and Geography

According to Stratistics MRC, the Global Helideck Monitoring System Market is accounted for $226.33 million in 2022 and is expected to reach $326.54 million by 2028 growing at a CAGR of 6.3% during the forecast period. A helideck is a heliport that is located on a floating or fixed offshore facility, such as an exploration or production unit that is used for oil or gas extraction. The helideck monitoring system is intended to comply with regional and aviation safety norms and regulations. It delivers flight information, screenshots to helicopter operators for flight planning, and communication hierarchical storage management (HSM) data to remote or local users.

According to World Oil’s survey, global offshore drilling will rise by 4.7% with an increase in every region. In 2019, the U.S. became the largest crude oil producer by surpassing Russia.

Market Dynamics:

Driver:

Rising offshore oil and gas exploration activities

The increased demand for fuel has intensified exploration activity to find additional offshore oil and gas rigs to meet the increased demand. For example, Northern Offshore, a drilling unit of Shandong Offshore International, obtained a $25.4 million contract from Sinogeo's Smart Oil Investment for drilling services in the Bohai Sea through a bidding process. Furthermore, Wintershall Dea Norge has granted Saipem a contract for a six-well drilling campaign with options to drill additional wells in the Norwegian region of the North Sea. Thus, the increase in offshore oil and gas development operations is likely to boost the growth of the helideck monitoring system market.

Restraint:

Concerns about cyber attacks

The helideck monitoring system measures air temperature and barometric pressure, wind speed and direction, vertical velocity, and helideck attitude. In recent years, the four largest maritime shipping corporations, APM-Maersk, Mediterranean Shipping Company, COSCO, and CMA CGM, have faced security challenges. The malware infects the ship's internal IT network and targets shore-based equipment. Thus, the digitalization of ships and boats might assist receive information through software, leading to cyber-attacks and, as a result, compromising safety and security.

Opportunity:

Escalating use of ships and vessels

Offshore vessels and rigs are now fully reliant on helicopters for crew and equipment transportation to and from operations. An increasing number of ships, increased investment in naval projects, and increased worldwide trade via sea are factors driving the helideck monitoring system market expansion. The helideck monitoring system offers helicopter pilots with real-time information, which aids in decreasing the risks of potential hazards in offshore operations.

Threat:

Lack of skilled professionals

Offshore operations are more complex than others, necessitating a greater degree of experienced experts to land and take off from an offshore station as well as recognise weather conditions. Furthermore, landing and taking off from moving helidecks necessitates more airmanship skills than moving in a stable platform. As a result, a shortage of trained helicopter pilots may impede the growth of the helideck monitoring system market.

Covid-19 Impact

The COVID-19 pandemic has impacted the oil and gas industry's production, transportation, and distribution. Since then, due to COVID-19 travel restrictions, the use of helicopters for travel to and from oil rigs has been restricted, affecting the demand for the use and maintenance of helideck monitoring systems. Furthermore, due to the pandemic, the production of new offshore oil rigs was halted, affecting demand for new helideck monitoring systems. Offshore oil and gas rigs are constantly expanding in number, with a little delay due to the pandemic, but it is predicted to grow following the pandemic, fueling the expansion of the helideck monitoring system market.

The hardware segment is expected to be the largest during the forecast period

The hardware segment is estimated to have a lucrative growth, due to the increasing demand for a helideck monitoring system for real-time weather information supported by IoT-based hardware and systems. The hardware segment is further subdivided into Global Positioning System (GPS) Sensors, Gyro Sensors, Meteorology Sensors, Motion Sensors, and Wind Sensors. The segment's growth will be driven by the regular replacement of hardware components such as motion sensors. Helideck monitoring systems use motion sensors to detect any obstructions on the helideck, such as weather conditions, during landing and take-off operations.

The commercial segment is expected to have the highest CAGR during the forecast period

The commercial segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the increased ships and vessel traffic and growing sea trade. The sea transports the vast majority of world trade. The Helideck Monitoring System (HMS) is becoming increasingly popular in the business sector. The primary application of HMS in commercials is to ensure the safe landing and takeoff of helicopters. Various sensors included within the HMS assist pilots in assessing weather conditions and other environmental elements that may affect the operation of the helicopter.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the rise of the oil and gas industry in the United States and Canada, as well as the presence of the most naval ships in the region. Increased defence spending for the procurement of naval ships will boost the market's growth. The growing preference for the use of temporary naval bases by the navy of nations such as the United States has resulted in a 3% increase in the usage of the Helideck Monitoring System by the defence industry present in this region in the second decade of this century.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, because of the presence of significant helicopter fleets in countries such as the United Kingdom, France, Russia, and Germany. Increased usage of helideck monitoring systems, as well as increased demand for new vessels, are also aspects boosting the growth of the target market in this region. Furthermore, the presence of important companies such as Fugro, Vaisala, Observator Group, RH Marine, and others drives the market across the region.

Key players in the market

Some of the key players profiled in the Helideck Monitoring System Market include Automasjon and Data AS, Observator Group, Kongsberg, ABB, Miros Group, Fugro, ASB Systems Pvt Ltd., Automasjon & Data, Shoreconnection, Vaisala, RH Marine, Dynamax and Rigstat

Key Developments:

In July 2017, Observator Group signed a contract with Germany to supply the helideck monitoring system or the Borkum Riffgrund 2 offshore substation in the German North Sea.

Verticals Covered:
• Marine
• Oil & Gas

Systems Covered:
• Software
• Hardware

Applications Covered:
• Commercial
• Defense

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements