Maritime Patrol Aircraft Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027

Maritime Patrol Aircraft Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027

The global maritime patrol aircraft market is anticipated to register a steady CAGR in the forecast period, 2023-2027. The market is driven by increased defense expenditure by countries due to the increased threat of terrorism and border activities and the rise in territorial conflicts between countries. Also, the need to adopt advanced and better-performing equipment and technologies by the defense sector and replace the aging maritime patrol aircraft to stay ahead in the market is expected to create lucrative growth opportunities for the global maritime patrol aircraft market over the forecast period.

Increased Defense Spending by Countries Drives the Market Growth

For counter-terrorism activities and to secure the coastline border, countries have increased their spending on the procurement of modern equipment, weapons, and vehicles. A nation's military is the most vital aspect of any country. The total military spending across the world was about $1.981 trillion. The United States, China, and India have one of the largest military forces worldwide. It has been estimated that the United States had spent $778 billion, and China spent $252 billion among the other countries in 2020. The capability to spend significantly on the defense sector is expected to propel the demand for maritime patrol aircraft over the next five years.

Also, the increased investments by the market players in research and development activities and focus on improving their global presence, manufacturing expertise, and customer support services are expected to influence the market demand. Key market players are also making advanced aircraft for specialized monitoring and recognition along with additional anti-ship warfare and anti-submarine warfare capabilities.

Launch of Novel Versions of Maritime Patrol Aircraft Fuels the Market Growth

The French government is working on the up-gradation of aging maritime patrol aircraft, and a total of 18 Atlantique 2 (ATL2) are set to be upgraded and delivered to French Navy by 2024. The upgraded versions are expected to contain sensor subsystems, display panels, and tactical mission systems, which are expected to enhance the performance of aircraft.

India has partnered with Boeing, which is working on the expansion of the Indian Navy’s long-range maritime reconnaissance anti-submarine warfare capabilities. It had delivered the country’s 10th P-8I Maritime Patrol Aircraft to the Indian Navy. It also supports the growth of the India P-8I fleet by providing training to Indian Navy flight crews, ground support equipment, spare parts, and field service representative executive. The logistics support offered by Boeing is making the country ready at the lowest possible cost.

Market Segmentation

The global maritime patrol aircraft market is segmented into type, engine type, aircraft type, application, regional distribution, and competitive landscape. Based on type, the market is divided into armoured and unarmoured. Based on engine type, the market is divided into jet engine aircraft and turboprop aircraft. Based on aircraft type, the market is bifurcated into fixed-wing and rotary-wing. Based on application, the market is divided into surveillance, reconnaissance, situational awareness, and others. To analyze the market based on the region, the global maritime patrol aircraft market is studied in major regions, namely North America, Asia-pacific, Europe & CIS, South America, Middle East and Africa. In terms of country, the United States is anticipated to be a lucrative market as it spends more on the military than other nations and has the most expensive government programs to develop and support the defense sector.

Market Players

Airbus S.A.S, Embraer S.A., The Boeing Company, Thales Group, Kawasaki Heavy Industries, Leonardo S.p.A, Lockheed Martin Corporation, Harbin Aircraft Industry Co., Saab AB, BAE Systems plc, are the major market players operating in the global maritime patrol aircraft market.

Report Scope:

In this report, global maritime patrol aircraft market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Maritime Patrol Aircraft Market, By Type:
• Armoured
• Unarmoured
• Maritime Patrol Aircraft Market, By Engine Type:
• Jet Engine Aircraft
• Turboprop Aircraft
• Maritime Patrol Aircraft Market, By Aircraft Type:
• Fixed-Wing
• Rotary-Wing
• Maritime Patrol Aircraft Market, By Application:
• Surveillance
• Reconnaissance
• Situational Awareness
• Others
• Maritime Patrol Aircraft Market, By Region:
• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• India
• Japan
• Thailand
• Indonesia
• Australia
• South Korea
• Europe & CIS
• Germany
• France
• United Kingdom
• Spain
• Italy
• Netherlands
• Russia
• Poland
• South America
• Brazil
• Argentina
• Middle East & Africa
• Saudi Arabia
• Iran
• Israel
• UAE
• Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global maritime patrol aircraft market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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