According to the latest report by IMARC Group, title “Maritime Patrol Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global maritime patrol aircraft market reached a value of US$ 17.97 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 24.97 Billion by 2027, exhibiting a CAGR of 5.40% during 2022-2027.
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Maritime Patrol Aircraft Industry Outlook:
Maritime patrol aircraft (MPA), also called maritime reconnaissance aircraft, represent the fixed-wing airplanes that are designed to operate over water for facilitating search and rescue (SAR), anti-submarine warfare (ASW), anti-ship warfare (AShW) military proceedings, etc. They generally include data links, sensors, over-the-horizon communications systems, infrared cameras, and several air-deployable measuring system buoys, such as torpedoes and square measures used for extending flights at low altitudes. Maritime patrol aircraft offer reliability, security, flexibility, scalability, etc., at a cost-effective price. Presently, they are extensively available in varying types, including armored and unarmored.
Market Trends:
The growing prevalence of terrorism and the escalating border tensions between neighboring countries are primarily driving the maritime patrol aircraft market. In line with this, the increasing adoption of MPA for protecting coastline trade routes and detecting smuggling and other cross-border illegal activities is further catalyzing the market growth.
Moreover, the launch of numerous favorable policies by government bodies for strengthening the military and defense infrastructures by installing high-tech maritime patrol aircraft is acting as another significant growth-inducing factor. Besides this, the rising investments in R&D activities across the aviation industry are also positively influencing the global market.
Additionally, the introduction of next-generation turbo-powered product variants for surveillance and monitoring with lower fuel burn rates and higher engine efficiency properties is anticipated to fuel the maritime patrol aircraft market over the forecasted period.
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| Maritime Patrol Aircraft Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 17.97 Billion |
| Market forecast in 2027 | US$ 24.97 Billion |
| Growth Rate | CAGR of 5.40% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Engine Type, Application and Region |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
- Armoured
- Unarmoured
Breakup by Engine Type:
- Turbofan
- Turboprop
Breakup by Application:
- Surveillance
- Reconnaissance
- Situational Awareness
- Others
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are Airbus SE, BAE Systems plc, Dassault Aviation SA, Embraer S.A., Kawasaki Heavy Industries Ltd, Leonardo SpA, Lockheed Martin Corporation, RUAG Group, Saab AB, Textron Inc. and The Boeing Company.
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