Dublin, Nov. 03, 2023 (GLOBE NEWSWIRE) -- The "Maritime Patrol Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global maritime patrol aircraft (MPA) market has achieved a significant market size of US$ 18.9 Billion in 2022, with experts projecting robust growth in the coming years. By 2028, the market is expected to reach US$ 25.5 Billion, exhibiting a noteworthy compound annual growth rate (CAGR) of 4.6% during the period from 2023 to 2028.
Maritime patrol aircraft, also known as maritime reconnaissance aircraft, are fixed-wing aircraft designed for operations over water, including anti-submarine warfare (ASW), search and rescue (SAR), and anti-ship warfare (AShW) military activities. Equipped with advanced sensors, data links, communication systems, infrared cameras, and air-deployable measuring system buoys, these aircraft play a crucial role in extended low-altitude flights. MPA offers essential technical support, reliability, security, flexibility, and scalability at a cost-effective price, available in both armored and unarmored variants.
Maritime Patrol Aircraft Market Trends:
The global maritime patrol aircraft market is primarily driven by the rising incidents of terrorism and increasing border tensions among neighboring countries. These aircraft are extensively employed to safeguard coastline trade routes, detect smuggling, and address other cross-border illegal activities, contributing to market growth. Government initiatives to strengthen the military and defense sectors by deploying high-tech MPAs are also fueling market expansion.
Furthermore, the introduction of next-generation turbo-powered MPAs with lower fuel consumption rates and higher engine efficiency is propelling market growth. Strategic collaborations between industry leaders, regulatory bodies, significant technological advancements, and extensive research and development (R&D) activities in the aviation sector are creating a favorable outlook for the maritime patrol aircraft market. The market is further driven by the rapid modernization of existing aircraft used for maritime patrolling.
Key Market Segmentation:
The market report provides insights into various market segments:
Breakup by Type:
- Armored
- Unarmored
Breakup by Engine Type:
- Turbofan
- Turboprop
Breakup by Application:
- Surveillance
- Reconnaissance
- Situational Awareness
- Others
Breakup by Region:
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape:
The report features an analysis of the competitive landscape, including profiles of key market players such as 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.
Key Questions Answered in This Report:
- How has the global maritime patrol aircraft market performed to date, and what are the growth prospects?
- What is the impact of COVID-19 on the global maritime patrol aircraft market?
- What are the key regional markets?
- What is the breakdown of the market by type?
- What is the breakdown of the market by engine type?
- What is the breakdown of the market by application?
- What are the various stages in the industry's value chain?
- What are the key driving factors and challenges in the market?
- What is the structure of the global maritime patrol aircraft market, and who are the key players?
- What is the degree of competition in the market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 134 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $18.9 Billion |
| Forecasted Market Value (USD) by 2028 | $25.5 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/i8c1dy
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