Press Release / Technology / Maritime Patrol Aircraft Market Global Development Industry Trends and Future Outlook to 2023

Maritime Patrol Aircraft Market Global Development Industry Trends and Future Outlook to 2023

Market Highlights:

In response to increasing maritime disputes and territorial conflicts, various countries are focusing on strengthening their surveillance strategies. The constant upgrades in airborne surveillance are inducing the demand for advancement in the maritime patrol aircraft. Market Research Future (MRFR) has recently published a report on global maritime patrol aircraft implying that the global market for maritime patrol aircraft is anticipated to expand steadily at a CAGR of 5% during the forecast period of 2018-2023.

The maritime patrol aircraft are equipped with a range of sensors which include magnetic anomaly detector, radar sensors, sonobuoys, infrared cameras, ELINT sensors to monitor communication and radar emissions and others for providing higher efficiency in surveillance activities. The increasing demand for advanced surveillance technology due to rising geopolitical issues, territorial conflicts, expanding surface and submarine fleets and others are driving the global maritime patrol aircraft market towards expansion.

The Inclination of various countries towards the adoption of an integrated EEZ (exclusive economic zone) approach based on multi-source surveillance assets and layered surveillance architecture is leading to the inclusion of maritime patrol aircraft as they are designed to operate for long duration and cover a larger area in short time period. The increasing application of maritime patrol aircraft to carry out rescue operations, counter smuggling, anti-poaching of marine life and others is positively impacting on the expansion of the global maritime patrol aircrafts market.

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Competitive Analysis:

The increasing demand for maritime patrol aircraft by various countries is leading to the rise in research and development expenditure by the players in the global maritime patrol aircrafts market in order to introduce advanced and upgraded versions of maritime patrol aircraft in the global market.

On 9th July 2018, The New Zealand government has officially approved the purchase of four Boeing P-8A Poseidon maritime patrol aircraft. The purchase of these U.S.-made aircraft is considered to be one of the most expensive and largest defense procurement programs for the New Zealand Defense Force (NZDF) in recent years.

On 15th July 2018, Pakistan Navy has announced that it has received its first of two ATR-72 maritime patrol aircraft. These ATR-72 MPAs are equipped with self-protection suite to provide defensibility to radar, infrared and laser-guided munitions along with passive electronic intelligence (ELINT) capabilities.

On 20th July 2018, Northrop Grumman Corp. has announced its strategy to upgrade the U.S. Navy MQ-4C Triton, long-range unmanned aerial vehicle (UAV), which is used for maritime patrolling with SIGINT capability to match the Navy’s EP-3 manned SIGINT patrol aircraft. The MQ-4C Triton provides surveillance, real-time intelligence and reconnaissance mission (ISR) over vast coastal and ocean region.

The major players of the global maritime patrol aircraft market are Airbus S.A.S (France), Boeing (U.S.), Lockheed Martin (U.S.), Saab Automobile AB (Sweden), BAE Systems Inc. (U.K), Embraer S.A. (Brazil), Harbin Aircraft Industry Co., Ltd (China), Leonardo S.p.A (Italy), Thales Group (France), and Orbital ATK Inc. (U.S.).

According to MRFR, The Maritime Patrol Aircraft Market is expected to reach the market size of USD 24.6 billion by the end of forecast period with CAGR of 4.72 %.

Market Segmentation:

The global maritime patrol aircraft market has been segmented on the basis of type, aircraft type, and integrated sensors. Based on type, the maritime patrol aircraft market is segmented into armored and unarmored.

Based on aircraft type, the maritime patrol aircraft market is segmented into fixed-wing and rotary-wing. Based on integrated sensors, the maritime patrol aircraft market is segmented into radar, camera and others.

Regional Analysis:

Geographically, the global maritime patrol aircraft market is segmented into five major regions such as North America, South America, Europe, Asia Pacific and the Middle East and Africa. Among these regions, North America accounts for the largest share in the global maritime patrol aircraft market owing to the rapid adoption of advanced surveillance aircraft by the military and defense sector in this region. The maritime patrol aircrafts market is projecting significant growth in the Europe region due to the increasing territorial conflicts around the world. The substantial expansion of the maritime patrol aircraft market in the Asia Pacific region is the result of increasing maritime conflicts, rise in geopolitical imbalance and inclination of the developing economies towards strengthening their naval bases.

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Target Audience:

Organizations
Manufacturer
Research Institute / Education Institute
Potential Investors
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