Last year saw Airbus Helicopters logging encouraging—and hopefully sustainable—levels of growth with net orders rising by just over 8 percent to 393. Announced as part of the European aerospace and defense group's 2023 financial results on February 15, the company said the new business was spread across all its helicopter programs and amounted to a book-to-bill ratio above one, both in terms of units and value.

Revenues for the division were 6 percent up at €2.7 billion ($2.9 billion). More impressively, its earnings showed the highest rate of increase among all Airbus business units, climbing by 19 percent to €307 million.

In 2022, the UK raised the profits tax on North Sea oil and gas producers from 40 to 75 percent through 2028, raising $3.51 billion in its first year. Proceeds are partially directed as rebates to homeowners.

Offshore Energies UK (OEUK), the trade association of the nation’s more than 400 offshore industries and organizations, estimates the move drove 90 percent of offshore energy firms to reduce spending in the region and that a continued lack of investment would lead to production cuts of 80 percent by 2030.

The shortage of offshore helicopters isn’t going away anytime soon, according to Nigel Leishman, chief commercial officer at helicopter lessor LCI. He told AIN that demand for offshore lift is now above pre-Covid levels. “It’s just pure demand. There’s just more activity out there and there’s actually fewer helicopters available.”

And the problem isn’t just that the OEMs are having difficulties ramping production due to lingering supply-chain problems. Many of the helicopters that were parked during the Covid slump are flying elsewhere. “A lot of the helicopters that moved out of the oil and gas market during the downturn have gone on to other roles and are no longer available.”

Responding to relentlessly strong demand, Safran Helicopter Engines is seeking to ramp up deliveries of its turboshafts to just above 1,000 units next year. In a briefing with reporters ahead of Heli-Expo 2024, the French company’s CEO, Cédric Goubet, acknowledged this will be a tall order since output was just more than 600 engines last year and it is targeting 900 for 2024.

At the same time, Safran has begun work on a new turboshaft that could eventually replace its Arriel for single-engine helicopters. Goubet said this project is at a very early stage, with engineers still defining what level of technology will be required.

The heavy lift helicopter market is expected to more than double, posting an almost 9 percent annual growth over the next decade, and reach $10.79 billion by 2032. That’s the conclusion of Allied Market Research (AMR) in a recent report.

The report breaks down the heavy lift helicopter market by industrial sector and region. Aerial firefighting is forecast to post the highest compound annual growth rate (CAGR) at 10.6 percent. AMR said “heightened concerns over wildfires caused by climate change, urbanization, and land management practices” have resulted in “increased investment in aerial firefighting resources” to bolster wildfire prevention, detection, and suppression.