The global helideck monitoring system market is predicted to reach USD 283.7 million by 2028, exhibiting a CAGR of 4.37% during the forecast period. The growing application of monitoring system in the oil & gas and marine industry will create lucrative business opportunities for the market, states Fortune Business Insights, in a report, titled “Helideck Monitoring System Market Forecast, 2021-2028.” The market size stood at USD 200.3 million in 2020.
The Report Lists the Key Companies in the Helideck Monitoring System Market:
ASB Systems PVT LTD. (India)
Automasjon & Data AS (Norway)
Fugro (The Netherlands)
Miros Group (Norway)
Observator Group (The Netherlands)
RH Marine (The Netherlands)
ShoreConnection International AS (Norway)
SMC (The U.S.)
Increasing Use of Vessels to Fuel Demand
The industry for helideck monitoring systems is projected to experience robust growth due to the rising investments in naval projects. The increasing use of offshore vessels and rigs will drive the demand for these systems, as they play a crucial role in monitoring helidecks. These systems provide real-time information to helicopter pilots, enhancing safety during offshore operations and mitigating potential hazards. Additionally, stringent safety regulations concerning accidents have created a high demand for helideck monitoring systems, further propelling market growth. However, the market's progress may be impeded by cybersecurity concerns related to the safety and security of ships and vessels.
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 helicopters 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.
The report answers the following questions:
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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.