ASIA PACIFIC REGION CIVIL HELICOPTERS Year End 2015 Beijing Seoul Penglai Chengdu Shanghai Shenzhen Hong Kong Bangkok Manila ABOUT ASIAN SKY GROUP ASIAN SKY GROUP (ASG), headquartered in Hong Kong with offices throughout Asia, has assembled the most experienced aviation team in the Asia-Pacific region to provide a wide range of independent services for both fixed and rotary-wing aircraft. ASG also provides access to a significant customer base around the world with the help of its exclusive partners. ASG is backed by SEACOR Holdings Inc., a publically listed US company (NYSE: “CKH”) with over US$1 billion in revenue and US$3 billion in assets, and also by Avion Pacific Limited, a mainland China-based general aviation service provider with over 20 years of experience and 6 offices and bases throughout China. ASG provides its clients with four main business aviation services: 1. Sales & Acquisitions including Transactional Advisory 2. Market Research and Consulting including Special Projects 3. Operation Oversight including Completion Management, Audits, Invoice Review and Aircraft Appraisals, and 4. Luxury Charter Services. The acclaimed Asian Sky Fleet Reports are produced by ASG’s Market Research and Consulting group. ASG has a growing portfolio of business aviation reports designed to provide valued information so that the reader can make better informed business decisions. Included in the portfolio are Asian Sky Asia-Pacific Fleet Reports for both Civil Helicopters and Business Jets, the Africa Business Jet Fleet Report and the all new industry leading Asian Sky Quarterly magazine. CONTRIBUTION Asian Sky Group would like to acknowledge the gracious contributions made by numerous organisations, including aircraft operators, OEMs, aviation authorities and JETNET LLC in providing data for this report. Should you wish to reproduce or distribute any portion of this report, in part or in full, you may do so by mentioning the source as: “Asian Sky Group, a Hong Kong based business aviation consulting group”. Thank you for your interest in this report. We hope you will find the information useful. If you would like to receive further information about our other aviation reports and services, please contact us at [email protected] or visit us at www.asianskygroup.com. INTRODUCTION Asian Sky Group (ASG) is pleased to present the 3rd edition of its Civil Helicopter Fleet Report. Originally just covering the Greater China region, this edition covers the Asia Pacific region for the second time and now also includes the important Asia Pacific markets of India, Australia and New Zealand. ASG’s Fleet Reports provide the most comprehensive coverage and breakdown of the civil helicopter fleet in the Asia Pacific region and have established themselves as an indispensable source of valued information. For copies of ASG’s various industry reports, please visit at www.asianskygroup.com. TABLE OF CONTENTS EXECUTIVE SUMMARY AND KEY FINDINGS…………………………………………………….4 OFFSHORE ACTIVITY………...………………...............................……………………...........…8 FLEET BREAKDOWN NORTHEAST ASIA GREATER CHINA……………………………………………..........................................12 JAPAN……..............………………………………………………....................................27 SOUTH KOREA .........………………………………………….....................................36 CENTRAL ASIA INDIA.................…………………………………………..............................................46 SOUTHEAST ASIA THAILAND..........…………………………………………..............................................55 PHILIPPINES.................……………………….....…….............................................65 MALAYSIA........................……........................…….............................................73 INDONESIA..………………….............................……..........................................85 MYANMAR..………………….............................……...........................................93 LAOS..…….…………….............................…….....................................................94 CAMBODIA……………….............................……...........................................94 VIETNAM……………….............................……...........................................95 BRUNEI……………….............................……...........................................96 SINGAPORE……………….............................……...........................................96 OCEANIA PAPUA NEW GUINEA...……....................................…….........................98 AUSTRALIA....................……………..........……..................................................105 NEW ZEALAND................……........................……...........................................114 PRE-OWNED AIRCRAFT GLOBAL AVAILABILITY…………....…………...…...….............123 AIRCRAFT MODELS POSITIONING……………...………………………………………………124 SUPPORT INFRASTRUCTURE……..........…….......……….......…………………………......130 ASIA PACIFIC REGION CIVIL HELICOPTER FLEET REPORT – YEAR END 2015 1 6 6 Mongolia 782 762 694 576 212 216 South Korea +2% China +20% Japan -3% 304 304 26 27 Nepal +4% 41 39 Taiwan -5% 20 20 30 30 Bangladesh Macau 1 1 Hong Kong 111 112 Laos 6 6 India 13 13 Thailand +1% Myanmar 28 29 27 27 Guam +4% Vietnam Cambodia -11% 9 8 10 10 Sri Lanka 6 6 Brunei Singapore 1 1 199 2,094 114 2,028 185 105 Papua New Indonesia +8% Guinea +9% Australia +3% Note (1): Fleet distribution is based on helicopters in service and their active base of operation. Note (2): 2014 data for Australia, India, New Zealand and other Oceania Islands has been determined by deducting from 2015 fleet totals new and pre-owned deliveries including any aircraft that are known to have left a country but remained in the Asia Pacific region. Note (3): Other Islands include Maldives, Micronesia, Northern Mariana Islands, Palau and Solomon Islands. 2 ASIA PACIFIC REGION CIVIL HELICOPTER FLEET REPORT – YEAR END 2015 ASIA PACIFIC REGION – CIVIL HELICOPTERS 2014 2015 5,758 6,015 +4.5% 7 7 Other Islands3 200 186 Philippines +8% 169 165 Malaysia -2% French Polynesia 7 7 47 47 Vanuatu 8 10 Fiji +25% 20 20 New Caledonia 841 788 New Zealand +7% ASIA PACIFIC REGION CIVIL HELICOPTER FLEET REPORT – YEAR END 2015 3 EXECUTIVE SUMMARY At the end of 2015, the Asia Pacific civil helicopter fleet numbered 6,015 helicopters in active service, an increase of 4.5% over year end 2014. As with 2014, the growth leader in percentage and number of units was China, with 20% growth and 118 helicopters added by year end 2015. This, however, represented a slowdown compared with 2014, when growth was 31% and 135 helicopters were added. Overall, of the 34 markets analyzed in this report, only a third experienced growth in 2015, with the other two- thirds either contracting or remaining stagnant. The Asia Pacific region is currently dominated by 4 countries and 3 manufacturers: with 73% of the helicopter fleet based in Australia, New Zealand, Japan and China, and 78% of those units being either a Robinson, Airbus Helicopters or Bell Helicopter. In terms of Replacement Cost, the “big four” OEMs (Airbus Helicopters, Bell Helicopter, Sikorsky and AgustaWestland) make up nearly 90% of the market, with Airbus Helicopters leading at 46% and the other three combining for 42%. Australia represents the largest market overall and is the largest market for Robinson and Bell Helicopter. In terms of unit numbers, New Zealand is next, and is the largest market for MD Helicopters. These are followed by Japan, which is the largest market for AgustaWestland and Airbus Helicopters, and finally China, the fastest growing market overall and the largest for Sikorsky. In terms of units, approximately 45% of the Asia Pacific fleet operates in a multi-mission role, followed by corporate or private missions at 28%, and offshore operations at 6%; though in terms of Replacement Cost, offshore operations make up approximately 20% of the market. KEY FINDINGS Offshore Activity: The downturn in oil prices significantly impacted the Asia Pacific region in 2015. In previous years, offshore oil and gas service providers were one of the main growth drivers for the region, however in 2015 there was limited to zero growth, and overall utilisation of the existing offshore fleet came down significantly, with nearly a third of the existing fleet likely idle or preparing for another mission role at year end. Greater China: Growth slowed in 2015 due a number of factors including the overall economic environment, expected currency depreciation, the downturn in oil and gas activity, negative sentiment resulting from certain government actions, and airspace taking longer to open up than previously anticipated. China will continue to see growth in the number of helicopters delivered during 2016 however, but at a much more moderate pace compared to prior years. Japan: The Japanese fleet contracted 3% in 2015, with only Sikorsky and AgustaWestland showing increases. This occurred due to greater numbers of older piston, single engine and medium size helicopters either being retired or replaced by fewer but newer helicopter models like the S-76D and AW139. The net decrease was 20 helicopters, though the overall market size grew in terms of Replacement Cost. South Korea: Despite its advanced aviation industry, there has been only moderate growth in the Korean fleet over the past few years, with 2015 being no exception at just 2%. The largest portion of the fleet is used in a multi-mission role, with 50% used in firefighting operations and being primarily Kamov and Mil helicopters. India: India saw limited growth in 2015 compared to expectations, but