Maritime Patrol Aircraft Market Outlook - 2027
A Maritime Patrol Aircraft (MPA) is a fixed-wing aircraft designed to be used for long periods over water, especially in the fields of anti-submarine warfare (ASW), anti-ship warfare (AShW), and search and rescue (SAR), and it is also called a marine reconnaissance aircraft. Among other maritime surveillance sources, satellites, ships, unmanaged aircraft, or helicopters, it is an important tool. As far as the ASW role is concerned, they can be flying with sonar buoys and torpedoes at low altitudes. The that threat of terrorism and border issues has led countries to concentrate on improving their maritime surveillance, which can fuel demand in the forecast era.
COVID – 19 Scenario Analysis:
- Big spenders on defense such as the U.S, Russia devote approximately 4 percent of their GDP to defense, a substantial amount, because national safety is foremost important, and safeguarding soldiers is a prime requirement.
- Various countries have suspended military exercises, and reducing military exercises would reduce the engagement time, informal testing, and evaluation of equipment and reduce the latent market development potential.
- Also, to safeguard the national borders, real-time information is required. Therefore, it helps to compensate for the needs such as information, surveillance, and recognition capabilities even in these pandemic situations.
- Furthermore, as national security is very important, various companies are increasing expenses in R&D to develop newer technologies, to be able to tackle the situations.
- Supply-side shocks are indeed some of the most noticeable impacts on the defense sector from the consequences of the pandemic. The immediate victims of the pandemic are businesses that are based in countries badly affected by the virus or those reliant on supply chain operations based in the affected countries.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
More and more military expenditure is expected to promote maritime patrol aircraft market growth during the projected period, driven by growing regional conflicts between the countries. There is an expectation that the market demand is generated by the need to replace aging maritime patrollers which are used beyond their own lives with new and advanced aircraft with increased patrolling capacity and efficiency. Increased marine surveillance aircraft orders and deliveries along with increased use of aircraft as part of operations and their supporting policies and programs for maritime protection boost the maritime patrol aircraft market growth potential. Increased marine surveillance aircraft orders and deliveries along with increased use of aircraft as part of operations and their supporting policies and programs for maritime protection boost the market growth potential. However, the fast-technological developments and continuous changes in government rules and guidelines represent some of the significant challenges for vendors. Furthermore, high initial investment and complexity of production may hinder the market growth.
The Global Maritime Patrol Aircraft market trends are as follows:
New product launches and deals to flourish the market
The first maritime P-8I Neptune Patrol aircraft will be delivered to the Indian Navy by mid-2020. The delivery is anticipated to be completed by January 2022 for the other 3 maritime patrols P-8I aircraft. COMCASA which, according to the reports, enables P-8I and P-8A Poseidon aircraft to exchange operational intelligence, including a secure Common Tactical Image, has already operationalized in the Indian Navy.
Also, a $1.55 billion contract was awarded to Boeing to produce an additional 18 P-8A Poseidon maritime patrol and reconnaissance planes for the U.S. Navy as well as two clients under foreign military sales. It will supply the U.S. Navy with eight Lot 11 P-8A aircraft, four to New Zealand, and six to the Department of Defense, South Korea.
Increased competition and enhanced defense spending and military procurement especially in developing countries
The maritime patrol aircraft market is highly competitive, with a few players responsible for the majority of the revenue. As competition continues to grow, contractors concentrate on acquisitions and joint ventures in the market with the main companies. Furthermore, suppliers focus on the following factors, such as a global presence & occurrence, internal manufacturing expertise, product offerings, investment in R&D, and reliable customer support, to benefit over their competitors. The production of new aircraft by the companies, due to the need for specialized monitoring and recognition alongside anti-submarine warfare and anti-ship warfare capabilities is likely to help them win prominent market positions.
Over the next few years, the rising rivalry between major contractors and subcontractors and the increasing threats to the protection of the sea will improve the global demand for aviation patrolling. Besides, International law states that each country is required to use its ocean borders and is not permitted without permission to cross other nations' regional territorial boundaries. The rising pressure allows highly advanced MPA with ISR technologies to be acquired.
Key benefits of the report:
- This study presents the analytical depiction of the global maritime patrol aircraft market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global market share.
- The current market is quantitatively analyzed to highlight the global market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the Maritime Patrol Aircraft Market research report:
- What are the leading market players active in the maritime patrol aircraft market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Maritime Patrol Aircraft Market Report Highlights
By Engine type
By Integrated Sensors
By Aircraft type
Key Market Players
Saab AB, Dassault Aviation, Harbin Aircraft Industry Co., RUAG Group, Thales Group, AVIC., Kawasaki Heavy Industries, Airbus S.A.S, BAE Systems plc, Textron Inc., Leonardo S.p.A, Embraer S.A., Lockheed Martin Corporation, Boeing