The New Age of Helicopter Leasing

Transcription

1 The New Age of Helicopter Leasing October 2015

2 Helicopter as Assets Multi-Use Versatility - Medium and heavy helicopters are employed in a variety of industries Offshore SAR - Oil and gas companies represent the largest end-user group for these types - Growing demand for EMS services across the world EMS Para-public - Increasing SAR demand as maritime nation seek to guard national waters VIP Other Medium and heavy helicopters are employed in a variety of industries, including offshore oil and gas (O&G), search and rescue operations (SAR) and other government and emergency medical services (EMS). 2

3 Market Overview Changing Market Demand New Helicopter Advantage OEM Production Offshore OGP Helicopter age % > 25y Helicopter Production Offshore Helicopter Production Crude oil yearly average Commercial Aircraft age % > 25y e Source: Infield Systems, Bristow, Deutsche Bank, Ascend, BP, LCI Analysis 3

4 Global Helicopter Market Fleet Growth By Region Civil Helicopter Market Growth by Region Demand for almost 11,000 units over the next 10 years driven by North American replacement needs and Asian growth Source: Airbus Global Helicopter Forecast ,000 units in medium, super medium and heavy categories 4

5 Helicopter as Assets EMS SAR Other Emergency Medical Services - Growing demand as helicopter support moves from luxury to necessity - Mainly though local Government / hospital and also charities - Typical machines are the EC135, AS350, BK117, Bell 206 and the AW There are currently over 2,000 helicopters around the world operating in EMS - Potential from emerging markets like Brazil and China Search and Rescue - Increasing demand as maritime nation seek to guard national waters - Older generation of SAR helicopters now reaching end of useful life - EC225, S-92 and AW139 all now have fully operational SAR versions - Longer-term contracts - Offshore oil production moving into deep-water will also drive SAR needs, e.g. Norway, Angola, Brazil, Russia, Malaysia, Multi-Use Versatility - Growing use in off-shore windfarms - Globally, 51,473 MegaWatts of new wind generating capacity was added in Growth in all regions - Diversification into Surveying / Mapping & Power/Pipeline Inspection - Ancillary support in Heavy-Lift Ops and General Patrols - Growth in new sectors such as deepsea mining and mineral extraction Medium and heavy helicopters are employed in a variety of industries outside of oil and gas (O&G) including Search and Rescue operations (SAR) and other government and Emergency Medical Services (EMS). 5

6 EMS Fleet Growth in the US Source: 6

7 EMS Helicopters in the US EMS BASES Oct HEMS helicopters operating out of 472 bases Sep-15 1,020 HEMS helicopters operating out of 846 bases Source: Atlas & Database of Air Medical Services 7

8 EMS Fleet Distribution 8

9 EMS Fleet Distribution 9

10 SAR Turbine Helicopter Fleet Overview 10

11 Emerging Markets: China China: Major Themes China Civil Helicopter Fleet Additions 0.3x per 1m people (China) vs 45.2x per 1m people (USA) On average, 140x civil helicopter additions p.a. (14 16) China Airspace deregulation 14,500km of coastline Private Demand Strong market growth and low penetration in the helicopter leasing market provides significant opportunities. Source: Citi and LCI Analysis 11

12 EMS in China 12

13 Market Overview Oil Reserves Global Deepwater Range Requirement Norway 320nm UK Shtokman 310nm US GOM China 150/210nm Nigeria India 150/ Vietnam 150/ Angola Brazil Malaysia 150/ Australia 200/240nm Falklands Deepwater range requirement Rise in deepwater and ultradeepwater drilling will drive advances in helicopters; particularly range Source: 13

14 Market Overview Oil Reserves: Africa Africa: Proved Reserves - African exploration has been affected by oil price slump - Potential for offshore discoveries still remains, not withstanding that a large part of Africa s oil reserves are situated in Nigeria and Angola, countries where substantial offshore discoveries have been made - Potential in Africa for medium/heavy helicopters will come from countries with deep water oil reserve discoveries and development Africa: Total Proved Reserves at end 2004 at end 2013 at end 2014 Thousand Thousand Thousand million million million Share barrels barrels barrels of total Libya % Nigeria % Angola % Algeria % Other Africa % Egypt % South Sudan % Gabon % Rep. of Congo % Chad % Sudan % Equatorial Guinea % Tunisia Total Africa % Nigeria Angola Oil reserves off the West coast of Africa represent a strong opportunity for helicopter growth Source: Source: BP Statistical Review of World Energy

15 Lease Corporation International Dublin Singapore London New York 15