The Global Aviation Service For Oil & Gas Sector Market is predicted to witness a 15.87% CAGR during the forecast period for 2023-2031.
The market growth is due to a tremendous rise in the number of individuals using aircraft is a major contributor to this expansion. Air transport service providers are giving the deployment of a larger fleet of aircraft the priority to fulfill the rising demand from passengers. During the anticipated period, there is predicted to be a large increase in demand for aircraft in the regions, notably in nations like China and India with growing air traffic. The middle-income category is also expected to grow significantly, increasing spending power. As a result, an increase in aircraft and air travelers will fuel the growth of the global industry.
One of the major market trends anticipated to have a favorable effect on the sector throughout the projected period is the EU's increased focus on biofuel. To lessen the carbon impact of airplanes, the EU began concentrating on biofuels for the aviation sector. The EU has already established some goals and policy tools relating to biofuel. The fluctuating price of oil and gas is a major barrier to the worldwide market. The revenue of upstream oil and gas firms has decreased, directly affecting their cash flow. Contrarily, the downstream industry has benefited from lower prices for raw materials, particularly crude oil, which has led to a significant shift in operating costs and increased business profit margins.
Competitive Landscape:
Some of the Aviation Service for Oil & Gas Sector market players are:
- Global Vectra Hilcorp Ltd.
- Air Charter Service
- PRIVATEFLY, KEA
- Ultimate Helicopter
- Oliver Wyman LLC
- PAS
- Swire Energy Services Ltd.
Market Segmentation:
The Aviation Service for Oil & Gas Sector market is segmented based on service type and oil & gas type. The Aviation Service for Oil & Gas Sector market is segmented based on service type as crew movements, cargo charters, air ambulances, onboard couriers, fuel transfer services, etc. By oil & gas type, the market is segmented into offshore and onshore.
The Onshore Segment Is A Major Contributor In The Aviation Service For Oil & Gas Sector Market Based On Type
The onshore category is expected to hold a major share in the global aviation service for oil & gas sector market is fueled by an increase in onshore oil and gas production, well stimulation, and drilling activity. It also comprises services relating to onshore fuel storage, management, and transfer to fulfill the operational requirements of onshore facilities. The aviation service for the oil and gas industry's onshore type is essential for enabling effective and secure operations at land-based oil and gas locations.
The Fuel Transfer Services Segment Witnessed Growth At A Rapid Rate
The fuel transfer services segment is projected to grow rapidly in the global aviation service for oil & gas sector market. The growing need for reliable and efficient fuel transportation across the sector is one of the major factors driving the increase in fuel transfer services in the aviation service for the oil & gas sector. Some causes generate this demand including expanding offshore drilling operations, increasing oil and gas exploration, and requiring prompt fuel delivery to difficult and inaccessible regions. The sector's increased focus on safety and compliance standards also fuels demand for specialist fuel transfer services that strictly follow set industry norms.
The North America Aviation Service For Oil & Gas Sector Market Holds A Significant Regional Revenue Share
The North America Aviation Service for Oil & Gas Sector market is expected to register the highest market share. The region's market growth is bolstered by the increased adoption of advanced techniques and government initiatives to promote sustainable aviation fuel utilization. The expansion is driven by the widespread presence of low-cost airlines and the rapid infrastructure development in emerging economies. In addition, Asia Pacific is projected to grow rapidly in the global Aviation Service for Oil & Gas Sector market. The rise in public and private investments in the development of aviation facilities in these developing economies will further facilitate market growth throughout the projected period.
Aviation Service For Oil & Gas Sector Market Report Size:
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Report Attribute |
Specifications |
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Growth rate CAGR |
CAGR of 15.87 % from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Service Type, Oil & Gas Sector Type |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Global Vectra Helicorp Ltd., Air Charter Service, PRIVATEFLY, KEA, Ultimate Helicopter, Oliver Wyman, LLC, PAS, and Swire Energy Services Ltd. among others . |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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