Maritime Patrol Aircraft Market – Key Regions with Sales Revenue, Outlook to 2023, Share, Growth Rate, Demand and Country Level Segments

September 25 17:22 2019
Maritime Patrol Aircraft Market - Key Regions with Sales Revenue, Outlook to 2023, Share, Growth Rate, Demand and Country Level Segments

Maritime Patrol Aircraft Market
Global Maritime Patrol Aircraft Market by Type (Armored and Unarmored), by Aircraft Type (Fixed-wing and Rotary-wing), by Integrated sensors (Radar, Camera, and Others), and by Region – Global Forecast to 2023

Market Segmentation:

By type, the global maritime patrol aircraft market has been segmented into armored and unarmored.

By aircraft type, the maritime patrol aircraft market has been segmented into fixed-wing and rotary-wing.

By Integrated sensors, the global maritime patrol aircraft market has been segmented into radar, camera, and others.

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Regional Analysis:

The global maritime patrol aircraft market, by region, has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia Pacific signifies tremendous growth potential and is expected to witness significant expansion of the market. The border dispute regarding oil reserves of the South China Sea is likely to fuel demand for maritime patrol aircraft in the region. The Royal Malaysian Air Force (RMAF) has already indicated its intention of buying these aircrafts at the earliest. Other countries such as Taiwan, Australia, Brunei, the Philippines, Vietnam, etc. are likely to exhibit a similar trend over the assessment period. This, in turn, is poised to augment the maritime patrol aircraft market in the region.

North America is expected to play an important role in the expansion of the global maritime patrol aircraft market in the forthcoming years. The region is forecasted to emerge as a key producer and exporter of these aircraft. Furthermore, the U.S. is anticipated to participate in the arbitration of the South China Sea dispute. It is presumed to favor the proliferation of the maritime patrol aircraft market in the region.

Market Synopsis:

The competitive landscape of the market represents robust competition at present. Key players are projected to capitalize on growth strategies such as mergers & acquisitions, collaborations, and partnerships among others for gaining a competitive edge over competitors. This, in turn, has been prognosticated to have a positive influence on the expansion of the maritime patrol aircraft market.

Market Research Future (MRFR)’s study reveals that the global maritime patrol aircraft market is projected to strike a CAGR of 5% during the forecast period 2018 to 2023. The constant focus on the defense sector by the governments for countering the increasing territorial and underwater threats is expected to dominate the growth trajectory of the market.

The market is subject to constant technological innovations and is rapidly gaining popularity across the world. An upsurge in demand is forecasted to be witnessed in the maritime patrol aircraft market through the assessment period. On the flip side, the rising acceptance of strategic bombers for multi-mission resolves such as surveillance, maritime patrol, and maritime military movements stand as a challenge to the key vendors.

Competitive Dashboard:

Airbus S.A.S (France), Lockheed Martin (U.S.), Saab Automobile AB (Sweden), Boeing (U.S.), BAE Systems Inc. (U.K), Harbin Aircraft Industry Co., Ltd (China), Embraer S.A. (Brazil), Thales Group (France), Leonardo S.p.A (Italy), and Orbital ATK Inc. (U.S.) are some of the key players profiled in this MRFR report.

Industry News:

In July 2018, The New Zealand government has announced the official approval for the purchase of Boeing P-8A Poseidon maritime patrol aircraft from the U.S.

In September 2018, the U.S. State Department has approved the sale of P-8A Maritime Patrol Aircraft to South Korea.

In November 2018, Jamaica Defence Force (JDF) has commissioned a Beechcraft King Air 350 WR maritime patrol aircraft into service.

In December 2018, The Royal Malaysian Air Force (RMAF) has outlined the need for a full spectrum of Maritime Patrol Aircraft in line with the national economic interests and regional geostrategic development.

In December 2018, The Pakistan Navy has announced the induction of its first ATR-72-based Maritime Patrol Aircraft (MPA).

In January 2019, Israel’s BIRD Aerosystems has announced that it has won a contract with an African client for maritime surveillance aircraft.

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