Press release
Global Helideck Monitoring System Market Size To Grow At A CAGR Of 4.40% In The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Helideck Monitoring System Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.40%
The increasing vessels and ship traffic for commercial and defence purposes is driving the demand for helideck monitoring systems. These systems provide advanced features such as real-time roll presentation, heavy rate presentation, acquisition of meteorological data, and high logging capacity, among others. Increasing geopolitical tensions are escalating the naval expenditure, which is in turn boosting the helideck monitoring system market.
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Helideck monitoring systems are also gaining traction in the oil and gas sector to enhance offshore safety, further propelling the market numbers. Surge in the oil and gas exploration activities are expected to be witnessed in the forecast period which are likely to heighten the deployment of helicopters. Meanwhile, helideck monitoring systems are gaining traction in offshore wind farms to ensure the safety of workers while reducing operating costs. In addition, the increasing emphasis on making offshore wind business more profitable is likely to provide impetus to the helideck monitoring system market in the forecast period.
In the coming years, the anticipated increase in demand for commercial helicopters in photography, patrol, forestry, advertising, and agriculture sectors, among others, is expected to escalate the demand for helideck monitoring systems. Furthermore, helideck monitoring systems are crucial in the transportation process of goods, metals, and arms and ammunition via sea routes, which is another major driving factor of the helideck monitoring system market.
Helideck Monitoring System Industry Definition and Major Segments
A helideck monitoring system is a system incorporated in helicopters to analyse the motion of the helideck in order to enhance safety and ensure flawless landing even during adverse weather conditions. Helideck monitoring systems analyses various factors influencing a helicopter landing, such as altitude, barometric pressure, speed of the wind, and velocity.
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Based on vertical, the market is bifurcated into:
• Marine
• Oil and Gas
On the basis of system, the market is segmented into:
• Hardware
• Software
By application, the market is divided into:
• Commercial
• Defence
Based on end use, the market is classified into:
• OEMs
• Aftermarket
On the basis of region, the market is categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Helideck Monitoring System Market Trends
The key trends in the global helideck monitoring system market include the increasing penetration of advanced digital technologies such as artificial intelligence, internet of things (IoT), and cloud software. These technologies offer accurate information about wind speed and direction, weather condition, and atmospheric conditions, among others.
Favourable policies of various governments are leading to an increasing number of CAA certifications which are further encouraging the development of advanced helideck monitoring systems. In addition, stringent maritime norms, aimed towards ensuring safety of human life and materials are crucial trends in the market. Technical advancements and increasing affordability of air support across the commercial sector for usages such as transportation and agriculture are further bolstering the helideck monitoring system market growth by offering critical information related to weather, environment, and barometric pressure, among others.
In geographical terms, North America has been witnessing a steady growth in the market for helideck monitoring systems because of the heightened growth of the oil and gas sector across strong economies such as the United States and Canada. Meanwhile, the Asia Pacific is expected to witness a decent growth in the forecast period due to the growing innovations and upgradations in the marine sector leading to a heightened development of aircraft carriers and ships.
Key Market Players
The major players in the helideck monitoring system market report are
ABB
ASB Systems Pvt Ltd.
Automasjon and Data AS
Fugro
Kongsberg
Miros Group
Observator Group
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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