Maritime Patrol Aircraft Market to be dominated by Surveillance Applications through 2027
The rise in maritime surveillance activities and integration of novel technologies are driving the demand for the global maritime patrol aircraft market in the forecast period, 2023-2027.
According to TechSci Research report, “Maritime Patrol Aircraft Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global maritime patrol aircraft market is anticipated to witness steady growth in the forecast period, 2023-2027. Maritime patrol aircraft are widely used by countries with long coastlines. They are provided with a number of sensors to perform important functions such as anti-ship warfare, wide-area monitoring, anti-submarine warfare, and search and rescue operations. The advent of modern dedicated maritime patrol aircraft and the availability of low-cost upgrade options to add extra features in features is driving the market demand.
However, the availability of low-cost alternatives such as surveillance costs and the growing preference for unmanned aerial vehicles may restrain the global maritime patrol aircraft market growth in the forecast period.
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The global maritime patrol aircraft market is segmented into type, engine type, aircraft type, application, regional distribution, and competitive landscape.
Based on type, the market is divided into armoured and unarmoured. Armoured maritime patrol aircraft are expected to dominate the market over the next five years owing to the increasing integration of advanced technologies and weapons by the market players in maritime patrol aircraft.
Based on engine type, the market is divided into jet engine aircraft and turboprop aircraft. Turboprop aircraft are expected to witness the fastest incremental growth in the forecast period as maritime patrol aircraft using turbofan engines have wider endurance and high operational efficiency. Due to the growing emphasis on global warming and restrictions on the level of carbon emissions into the environment, new-generation turbofan maritime patrol is expected to witness massive demand across the globe. Nations are working on increasing their maritime capabilities and are undertaking several procurement and modernization programs to upgrade the existing structure of the defense sector.
Based on aircraft type, the market is bifurcated into fixed-wing and rotary-wing. The fixed-wing aircraft type is expected to capture the highest market share in the forecast period owing to the modernization of the existing air-borne defense system. Also, the expansion of the existing air force fleet and surge in the defense budget for combat aircraft influence market demand.
Based on application, the market is divided into surveillance, reconnaissance, situational awareness, and others. Surveillance applications are expected to hold the largest market share in the forecast period. Maritime patrol aircraft are used by the defense sector for intelligence gathering, border patrol, airspace surveillance, and battlefield surveillance, amongst others. The increased need to secure the country’s border is expected to fuel the demand for surveillance activities among the leading authorities.
Major market players operating in the global maritime patrol aircraft market are:
- Airbus S.A.S
- Embraer S.A.
- The Boeing Company
- Thales Group
- Kawasaki Heavy Industries
- Leonardo S.p.A
- Lockheed Martin Corporation
- Harbin Aircraft Industry Co.
- Saab AB
- BAE Systems plc
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“The Asia-pacific region is expected to hold a major market share in the forecast period owing to the high-end defense expenditure by key countries like India, China, and Japan. The rise in the focus of government authorities to strengthen coastline borders to counter-terrorism activities and the need to replace the aging maritime patrol aircraft is acting as a positive factor for the global maritime patrol aircraft market. Also, the set-up of maritime patrol aircraft manufacturing facilities by public and private players such as in China and Japan and acquisition from other countries by Asian countries due to the unavailability of sufficient technologies is expected to propel the growth of the global maritime patrol aircraft market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Maritime Patrol Aircraft Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Type (Armoured, Unarmoured), By Engine Type (Jet Engine Aircraft, Turboprop Aircraft), By Aircraft Type (Fixed-Wing, Rotary-Wing), By Application (Surveillance, Reconnaissance, Situational Awareness, Others), and By Region”, has evaluated the future growth potential of global maritime patrol aircraft market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global maritime patrol aircraft market.
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