Maritime Patrol Aircraft Market Size - By Type (Armoured, Unarmoured), By Engine (Jet Engine, Turboprop Engine), By Component (Radar, Camera, Sensors), By Platform (Fixed Wing, Rotary Wing) & Forecast, 2023 - 2032

Maritime Patrol Aircraft Market Size - By Type (Armoured, Unarmoured), By Engine (Jet Engine, Turboprop Engine), By Component (Radar, Camera, Sensors), By Platform (Fixed Wing, Rotary Wing) & Forecast, 2023 - 2032

Maritime patrol aircraft industry size is slated to expand at over 5.5% CAGR from 2023 to 2032, driven by the increasing maritime security concerns, territorial disputes, and the greater need for maritime surveillance. The rising instances of piracy, illegal fishing, and the emphasis on border control are amplifying technological advancements, such as enhanced radar and sensor capabilities in maritime patrol aircrafts.

Of late, the importance of monitoring exclusive economic zones (EEZ), search and rescue operations, and the need to bolster anti-submarine warfare capabilities has significantly soared. To that end, the modernization initiatives led by naval forces globally will boost the industry growth. For instance, in January 2023, France's military procurement agency, Direction Générale de l’Armement (DGA) awarded contracts to industry leaders Airbus Defence & Space and Dassault Aviation to explore potential replacements for its existing maritime patrol aircraft (MPA) fleet.

The industry is bifurcated based on type, engine, component, platform, and region.

Based on type, the market value from the armored aircraft segment is projected to increase at substantial CAGR by 2032. This is owing to the increasing security threats at sea, heightened focus on anti-submarine warfare capabilities, and the growing need for enhanced survivability. The imperative to safeguard maritime interests effectively will also accelerate the demand for armored aircrafts.

With respect to engine, the maritime patrol aircraft industry size from the jet engine segment is estimated to witness over 6% CAGR during 2023-2032, driven by the increasing need for high-speed and long-range missions. The growing emphasis on rapid response to maritime threats, extended patrol durations, and the requirement for versatile mission profiles will boost segment expansion.

Based on component, the radar segment is expected to accumulate commendable industry share by 2032, driven by the rising concerns for maritime security and the subsequent need for advanced surveillance capabilities. The growing need for effective target detection, tracking, and situational awareness will also boost the adoption of radar technology in maritime operations.

Regionally, the Europe maritime patrol aircraft market is projected to exhibit over 5% CAGR during the forecast period. The growth can be attributed to the increasing concerns for maritime security in several countries across the continent. The surging geopolitical tensions and the rising instances of illegal activities at sea will also fuel the regional industry expansion.