Wight, a 51-year-old Australian film and television writer and producer, and deGruy, a 60-year-old American cinematographer, crashed just minutes after takeoff on the south coast of New South Wales yesterday.
Wight worked often with James Cameron, and wrote the 2011 film Sanctum, which Cameron co-produced. The Australian-made film earned $100m internationally at the box office, and was inspired by Wight's near-death experience diving in an underwater cavern.
He was also the manager of Cameron's 3D production company Cameron Pace, which provided most of the work on Avatar.
Santa Monica-based DeGruy was an expert in underwater cinematography. He won several BAFTAs and Emmy awards, including one for his work on The Blue Planet.
The two men were location scouting for an upcoming documentary about Papua New Guinea.
In a statement to The Guardian, Cameron said: "Mike and Andrew were like family to me. They were my deep-sea brothers and both were true explorers who did extraordinary things and went places no human being has been."
Watch Andrew Wight's work in the trailer for Sanctum 3D below: