Sikorsky Appraisers Conference, Atlanta VAI 2026

Steve Robertson of Air & Sea Analytics presented at the Sikorsky Appraisers Conference in Atlanta ahead of VERTICON (formerly HAI HELI-EXPO), the world’s largest vertical aviation conference and trade show.

Here are three key takeaways from the presentation:

1. Offshore investment is expected to rise again:
After plateauing through 2025, upstream offshore capital expenditure is expected to increase, with project sanctioning activity pointing to meaningful growth by 2027. The long-term case for offshore rotorcraft demand remains strong.

2. The Middle East conflict is a material near-term risk:
Disruption to traffic through the Strait of Hormuz has driven oil prices higher. The wider macroeconomic implications matter: sustained energy-led inflation, combined with the historically strong link between high oil prices and recession risk, could weigh on the sector. The pace of any resolution will be critical to the near-term outlook.

3. The S-92A remains the industry workhorse:
Twenty-two years after the first offshore-configured delivery, 92% of the 210 aircraft delivered remain in service. Secondary markets are also developing, including firefighting and government services. Our census indicates very high utilisation at 98%, with only 3 uncontracted aircraft today, compared with 34 four years ago.