Dublin, Jan. 24, 2025 (GLOBE NEWSWIRE) -- The "Offshore Patrol Vessel Market by Vessel Type, Size, Application, and Region 2025-2033" report has been added to ResearchAndMarkets.com's offering.
The global offshore patrol vessel market size reached USD 38.1 Billion in 2024. Looking forward, the market is projected to reach USD 73.3 Billion by 2033, exhibiting a growth rate (CAGR) of 7.15% during 2025-2033. The growing maritime trade activities, increasing integration of unmanned systems, and rising threat of terrorism, human and drug trafficking activities, and geopolitical tensions among neighboring countries are some of the major factors propelling the market.
At present, the increasing demand for OPVs due to the rising threat of terrorism and geopolitical tensions among neighboring countries is impelling the growth of the market. Besides this, increasing incidents of human and drug trafficking operations is propelling the growth of the market. In addition, the growing initiatives taken by the governing agencies of various countries to strengthen the security measures around the coastal borders are offering a favorable market outlook.
Apart from this, the increasing popularity of naval offshore patrol vessels (NOPVs) integrated with superior rapid gun mount systems along with short-range defensive features in warfare-like situations is supporting the growth of the market. Additionally, rising investments in upgrading the functionalities of OPV fleets to meet the evolving security challenges is bolstering the growth of the market.
Offshore Patrol Vessel Industry Segmentation
This report provides an analysis of the key trends in each segment of the global offshore patrol vessel market report, along with forecasts at the global, regional, and country levels from 2025-2033. The report has categorized the market based on vessel type, size and application.
Breakup by Vessel Type
The report has provided a detailed breakup and analysis of the market based on the vessel type. This includes advanced vessels and basic vessels. According to the report, basic vessels represented the largest segment.
Breakup by Size
A detailed breakup and analysis of the market based on the size have also been provided in the report. This includes < 50 meters, 50 to 90 meters, and >90 meters. According to the report, >90 meters accounted for the largest market share.
Breakup by Application
A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes coast guard, navy, and police force. According to the report, navy accounted for the largest market share.
Breakup by Region
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia-Pacific represented the largest market.
Asia-Pacific held the biggest market due to rising investments by governing agencies in the region for strengthening border security and preventing terrorist attacks. Besides this, the rising maritime trade activities are propelling the growth of the market.
Apart from this, the increasing promotion of domestic shipbuilding industries, along with the rising availability of customization options to meet specific operational requirements, is supporting the growth of the market.
North America is estimated to expand further in this domain due to the increasing focus on maintaining border security. Furthermore, the rising focus on naval modernization and the replacement of obsolete vessels is bolstering the growth of the market.
Competitive Landscape
Key market players are upgrading communication systems, sensor suites, navigation equipment, and surveillance capabilities. They are also focusing on offering OPVs that can be modelled depending on the needs of clients. Top companies are designing OPVs with multi-mission capabilities which can perform various tasks, such as patrol and surveillance, search and rescue, environmental protection, and disaster response. They are also working to improve the endurance and range of their vessels and increase their operational effectiveness and reduce the need for frequent refueling or resupply. Leading companies are using advanced composite materials and lightweight design techniques that help in reducing the overall weight of the vessel, leading to improved fuel efficiency and performance.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Austal Ltd.
- BAE Systems plc
- Damen Shipyards Group N.V.
- Dearsan
- Fincantieri S.p.A.
- Fr. Fassmer GmbH & Co. KG
- Fr. Lurssen Werft GmbH & Co.KG
- Garden Reach Shipbuilders & Engineers Limited
- Israel Shipyards Ltd.
- Naval Group
Key Questions Answered in This Report:
- How has the global offshore patrol vessel market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global offshore patrol vessel market?
- What is the impact of each driver, restraint, and opportunity on the global offshore patrol vessel market?
- What are the key regional markets?
- Which countries represent the most attractive offshore patrol vessel market?
- What is the breakup of the market based on the vessel type?
- Which is the most attractive vessel type in the offshore patrol vessel market?
- What is the breakup of the market based on the size?
- Which is the most attractive size in the offshore patrol vessel market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the offshore patrol vessel market?
- What is the competitive structure of the global offshore patrol vessel market?
- Who are the key players/companies in the global offshore patrol vessel market?
For more information about this report visit https://www.researchandmarkets.com/r/ks0789
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