Maritime Patrol Aircraft Global Market Report 2023

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Major players in the maritime patrol aircraft market are The Boeing Company, Saab AB, Lockheed Martin Corporation, Airbus SE, Textron Inc., Dassault Aviation SA, Aviation Industry Corporation of China, Ltd.

New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Maritime Patrol Aircraft Global Market Report 2023" - https://www.reportlinker.com/p06479781/?utm_source=GNW
, Leonardo S.P.A., Kawasaki Heavy Industries, Ltd., BAE Systems Plc., Israel Aerospace Industries Ltd., Thales Group, Diamond Aircraft Industries, Embraer S.A. and Gulfstream Aerospace Corporation.

The global maritime patrol aircraft market is expected to grow from $16.38 billion in 2022 to $17.27 billion in 2023 at a compound annual growth rate (CAGR) of 5.41%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The maritime patrol aircraft market is expected to reach $21.54 billion in 2027 at a CAGR of 5.68%.

The maritime patrol aircraft market consists of sales of anti-submarine aircraft, fixed-wing aircraft, and rotary-wing maritime patrol aircraft.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

A maritime patrol aircraft (MPA) refers to a specialized aircraft designed for maritime surveillance, reconnaissance, and anti-submarine warfare operations. These aircraft are typically operated by military or government agencies and are equipped with advanced sensors, radars, and other detection equipment to detect and track surface ships, and submarines.

Asia-Pacific was the largest region in the maritime patrol aircraft market in 2022.North America is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of maritime patrol aircraft include armored and unarmored.Armored refers to a variant of a maritime patrol aircraft that is equipped with defensive armament and armor to enhance its survivability in hostile environments.

They consist of various engine types including jet engine aircraft and turboprop aircraft and consist of integrated sensors such as radar, camera, and other integrated sensors for use in various applications such as passenger ships and ferries, dry cargo vessels, tankers, dry bulk carriers, special purpose vessels, service vessels, fishing vessels, and other applications.

The rise of global threats and terrorism is expected to propel the growth of the maritime patrol aircraft market going forward.Threats and terrorism refer to acts of violence or intimidation carried out by individuals or groups to achieve political, social, or religious goals.

Maritime patrol aircraft are used in various warfare situations such as search and rescue, anti-submarine warfare, and anti-surface unit warfare. For instance, in March 2023, according to the Institute for Economics & Peace, a Sydney-based global peace index-producing organization, globally, terrorist attacks became deadlier in 2022, killing on average 1.7 people per attack in 2022 compared to 1.3 deaths per attack in 2021. Therefore, the rise of global threats and terrorism is driving the growth of the maritime patrol aircraft market.

Technological advancements are a key trend gaining popularity in the maritime patrol aircraft market.Companies operating in the maritime patrol aircraft market are adopting new technologies to sustain their position in the market.

For instance, in March 2023, PAL Aerospace Ltd., a Canada-based international aerospace company, unveiled the new ‘Bombardier Global 6500-based P-6 multi-mission maritime patrol aircraft’. The Bombardier Global 6500 platform is integrated with next-generation mission system software. This software is capable of providing computer vision and space-based data in one operating frame.

In May 2022, Boeing Company, a US-based largest manufacturer of maritime patrol aircraft and jetliners, collaborated with Air Works Group.With the collaboration, the companies intend to develop the Indian Navy’s P-8I Fleet maritime patrol warfare aircraft.

Both companies aim to enhance their operational capabilities and provide various advantages to the country’s defense force respectively.The acquisition enables both companies to deliver efficient operational excellence capabilities to the defense forces of the country.

Air Works Group is an India-based global service and safety and technology solutions provider.

The countries covered in the maritime patrol aircraft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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