Dublin, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The "Maritime Patrol Aircraft Market by Type (Armored, Unarmored), Propulsion System (Jet Engine, Electric Propulsion), Mode of Operation, Application, and Region (North America, Europe, Asia Pacific, Rest of the World )- Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The maritime patrol aircraft market is valued at USD 6.7 billion in 2023 and is projected to reach USD 11.9 billion by 2028, at a CAGR of 12.1% from 2023 to 2028
This market study covers the maritime patrol aircraft market across various segments and subsegments. It aims to estimate this market's size and growth potential across different parts based on type, propulsion systems, application, mode of operation, and region. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies they adopted.
Over the last few decades, the maritime patrol aircraft industry has continued to evolve with expanding use cases, better cost efficiencies, and a more significant impact of new technological developments in the aircraft. The maritime patrol aircraft market is experiencing growth driven by escalating maritime security concerns.
These specialized aircraft are pivotal for monitoring and safeguarding coastal regions and international waters. As global trade via the oceans expands and maritime disputes rise, nations are investing in these aircraft to ensure sea safety and security. Technological advancements further boost their demand by enhancing surveillance and communication capabilities.
Major companies profiled in the report include Boeing (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Airbus (Netherlands), and Northrop Grumman Corporation (US), among others.
Based on application, the combat support segment is estimated to have the second-largest market share in 2023
The combat support segment in the maritime patrol aircraft market is being driven by evolving global security dynamics. As nations strive to safeguard their maritime interests and secure vital sea routes, investments in combat support aircraft are increasing. These aircraft not only bolster naval capabilities in conflict scenarios but also serve as essential assets for ensuring maritime stability and protecting national interests. This underscores the growing significance of the combat support segment in the maritime patrol aircraft market.
Based on type, the unarmored segment is estimated to have the second-largest market share in 2023
The unarmored segment within the maritime patrol aircraft market is being driven by cost-efficiency and versatility. These aircraft, without heavy armor, are more economical to operate due to their lighter weight and improved fuel efficiency. They are equipped with essential surveillance and reconnaissance systems, making them suitable for monitoring maritime activities and supporting various missions like search and rescue. As nations seek cost-effective solutions to cover extensive ocean areas and address evolving maritime security challenges, the demand for unarmored maritime patrol aircraft is increasing.
Based on regions, the North American region is estimated to have the second-largest market share in 2023
The North America region's prominence in the maritime patrol aircraft market stems from a range of factors. Firstly, the region faces substantial security challenges in its extensive coastlines and maritime borders, necessitating investments in advanced patrol aircraft to ensure maritime safety and security.
Additionally, North America's strong aerospace industry contributes to the development and innovation of maritime patrol aircraft technologies. Collaborations and partnerships with neighboring nations and international organizations further bolster regional maritime security efforts. North America's commitment to upholding maritime dominance and safeguarding crucial trade routes drives the demand for maritime patrol aircraft, establishing the region as a key player in the global maritime patrol aircraft market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 202 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $6.7 Billion |
| Forecasted Market Value (USD) by 2028 | $11.9 Billion |
| Compound Annual Growth Rate | 12.1% |
| Regions Covered | Global |
Company Profiles
- Airbus
- Avic Harbin Aircraft Industry Group Co. Ltd.
- Boeing
- Dassault Aviation
- Embraer
- General Automics Aeronautical Systems
- Hindustan Aeronautics Limited (Hal)
- Israel Aerospace Indsutries (Iai)
- Kawasaki Heavy Industries Ltd.
- Lockheed Martin Corporation
- Leonardo S.P.A.
- Northrop Grumman Corporation
- Saab Ab
- Shinmaywa Industries Ltd.
- Textron Inc.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities Maritime Patrol Aircraft Market
4.2 Maritime Patrol Aircraft Market, by Application
4.3 Maritime Patrol Aircraft Market, by Mode of Operation
4.4 Maritime Patrol Aircraft Market, by Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 Roadmap for Maritime Patrol Aircraft
5.4 Value Chain Analysis
5.5 Market Ecosystem
5.6 Trends/Disruption Impacting Customer's Business
5.7 Pricing Analysis
5.7.1 Average Selling Price Trend of Key Players, by Aircraft Type
5.7.2 Average Selling Price Trend, by Region
5.8 Technology Analysis
5.9 Case Study Analysis
5.10 Tariff and Regulatory Landscape
5.10.1 Regulatory Bodies, Government Agencies and Other Organizations
5.11 Porter's Five Forces Analysis
5.12 Key Stakeholders & Buying Criteria
5.12.1 Key Stakeholders in Buying Process
5.12.2 Buying Criteria
5.13 Trade Analysis
5.14 Volume Data
5.15 Key Conferences & Events in 2023-24
6 Industry Trends
6.1 Introduction
6.2 Supply Chain Analysis
6.3 Emerging Industry Trends
6.4 Innovation & Patent Registration
6.5 Impact of Mega Trend
7 Maritime Patrol Aircraft Market, by Type
7.1 Introduction
7.2 Armored
7.3 Unarmored
8 Maritime Patrol Aircraft Market, by Propulsion System
8.1 Introduction
8.2 Jet Engine
8.2.1 Turbofan
8.2.2 Turboprop
8.2.3 Turboshaft
8.3 Electric Propulsion
9 Maritime Patrol Aircraft Market, by Mode of Operation
9.1 Introduction
9.2 Manned
9.3 Unmanned
10 Maritime Patrol Aircraft Market, by Application
10.1 Introduction
10.2 Surveillance and Reconnaissance
10.3 Combat Support
10.4 Search and Rescue
10.5 Coastal Patrolling
11 Maritime Patrol Aircraft Market, by Region
11.1 Introduction
11.2 Regional Recession Impact Analysis
12 Competitive Landscape
12.1 Introduction
12.2 Company Overview
12.3 Market Ranking Analysis of Key Players, 2022
12.4 Market Share Analysis, 2022
12.5 Revenue Analysis of Top 5 Market Players, 2022
12.6 Company Footprint
12.7 Company Evaluation Matrix
12.9 Competitive Scenario & Trends
For more information about this report visit https://www.researchandmarkets.com/r/naqoqn
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