• Blog
  • Maritime Patrol Aircraft Market Growth Analysis | 2023-2028

    Maritime Patrol Aircraft Market Growth Analysis | 2023-2028

    Maritime Patrol Aircraft Market Growth Analysis | 2023-2028
    Report code - SR2022 Delivery - 2 Weeks
    Maritime Patrol Aircraft Market Size, Share, Trends, Forecast, & Growth Analysis - 202 See more...

    Market Insights

    The maritime patrol aircraft market was estimated at USD 18.8 billion in 2022 and is likely to grow at a CAGR of 5.04% during 2023-2028 to reach USD 25.28 billion in 2028.

    Maritime-Patrol-Aircraft-Market-Insights

    Want to know more about the market scope? Register Here

    What is maritime patrol aircraft?

    Maritime patrol aircraft, also known as maritime reconnaissance aircraft, refers to a craft that is specifically designed to operate over water to assist smooth proceedings for anti-ship warfare, anti-submarine warfare (ASW), and search & rescue (SAR). The aircraft includes data links, sensors, infrared cameras, over-the-horizon communications systems, and several air-deployable measuring buoys. These aircraft offer security, technical support availability, reliability, flexibility, and scalability at a cost-effective price. Currently, the maritime patrol aircraft are available in armored and unarmored variations.

    COVID-19 Impact

    The impact of COVID-19 on the overall market revenue is deemed to be less. Manufacturing delays hit the industry for a short duration between 2020 and 2021. However, a boost in the requirements for rescue & airlifting operations and emergency medical services for COVID-19 patients in the coastal areas created a splurge in demand for maritime patrolling aircraft during this period.

    Maritime Patrol Aircraft Market Report Highlights

    Market Size in 2022

    USD 18.8 billion

    Market Size in 2028

    USD 25.28 billion

    Market Growth (2023-2028)

    5.04% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Market Dynamics

    Rising terrorism occurrences along with growing border skirmishes between countries is one of the Key factors driving the growth of the global maritime patrol aircraft. Further, the utilization of maritime patrol aircraft in protecting the maritime trade routes and exposing illegal cross-border activities such as smuggling is positively impacting the market growth. Additionally, government initiatives and investments in strengthening the defense sector are boosting market growth.

    The introduction of next-gen turbo-powered maritime patrol aircraft for surveillance is acting as another growth-inducing factor for the market. These upgraded aircraft possess characteristics such as lower fuel burn rates and higher engine efficiency. Further, strategic collaborations between regulatory bodies and the top industry players for introducing advanced product ranges with significant technological improvements, and extensive R&D activities are expected to create a positive impact on the worldwide maritime patrol aircraft market. The rapid modernization of the existing maritime patrol aircraft fleet is also fuelling growth. However, currently, several manufacturers of these aircraft are finding it difficult to stay up-to-date with the technological advancements due to the high price associated with such upgrades and replacements. Such high-cost entry and expansion barriers along with the ever-changing technology requirements are expected to hamper the market growth.

    There have been several developments in the defense industry directed at maritime patrol aircraft in recent years, which would boost the overall market. Some of them are:

    • Countries across the world are increasing their pace of defense acquisition to safeguard their borders. For example, in March 2020, South Korea confirmed the order of 6 Boeing P-8 maritime patrol and reconnaissance jets, which will be delivered by the end of 2022. The acquisition was in seen as a response to aggressive missile testing activities carried out in North Korea.
    • In December 2019, China initiated mass production of special mission aircraft including electronic warfare aircraft, early warning aircraft, surveillance aircraft, anti-submarine aircraft, and a range of warplanes. Post achieving the target manufacturing capabilities, China plans to establish a full information system to increase its self-reliance in the defense sector.
    • In October 2021, the Indian Navy received the 11thanti-submarine warfare aircraft P-8I from Boeing. The Ministry of Defence had first signed a contract for eight P-8I aircraft in 2009. Later, in 2016, it signed a contract for four additional P-8I aircraft.
    • In December 2021, the French Defense Procurement Agency DGA took delivery of the sixth Atlantique 2 (ATL2) maritime patrol aircraft. This aircraft is equipped with technologies like the new search master radar, which utilizes Thales’ active antenna technology developed for the Rafale.
    • In June 2022, Germany announced its plans to use the Euro 100 billion special arms fund to buy additional Boeing P-8A Poseidon maritime patrol aircraft.

    Maritime-Patrol-Aircraft-Market-Dynamics

    Want to have a closer look at this market report? Click Here.

    Segment Analysis

    By Engine Type

    Based on engine type, the maritime patrol aircraft market is divided into jet engines and turboprop engines. The jet engine is expected to be the largest segment in the market owing to the growing demand for these aircraft while the turboprop engine segment is expected to be the fastest-growing segment in the market.

    By Aircraft Type

    Based on aircraft type, the market is segmented into armored and unarmoured aircraft. The armored segment is expected to dominate the global maritime patrol aircraft market during the forecast period.

    By Platform Type

    Based on platform type, the market is segmented into fixed-wing and rotary-wing. The fixed-wing segment is expected to dominate the global market owing to the increased defense requirements for combat and surveillance.

    Regional Insights

    Region-wise, North America was the largest maritime patrol aircraft market in 2022 and is forecast to grow at a decent pace during the forecast period. This is due to the high defense budget, technological advancements, favorable regulations, and presence of key manufacturers in the region. However, Asia-Pacific is expected to witness the fastest demand growth by 2028 owing to the surge in investments in the defense sector, rise in terrorism activities in neighboring countries, and unstable socio-political scenarios in the region. Further, emerging economies in the region such as India and China are also investing heavily in these maritime aircrafts, apart from modernizing their existing military equipment. Japan is another key market in the Asia-Pacific region.

    Maritime-Patrol-Aircraft-Market-Regional-Insights

    Know the high-growth countries in this report. Click Here

    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The maritime patrol aircraft market is segmented into the following categories.

    By Aircraft Type

    • Armored
    • Unarmored

    By Engine Type

    • Jet Engine
    • Turboprop Engine

    By Component Type

    • Radar
    • Camera
    • Sensors

    By Platform Type

    • Fixed Wing
    • Rotary Wing

    By Region

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Maritime-Patrol-Aircraft-Market-Segmentation

    Click Here, to learn the market segmentation details

    Key Players

    The following are the major players in the maritime patrol aircraft market:

    • Airbus S.A.S
    • Boeing
    • Lockheed Martin Corporation
    • Saab AB
    • BAE Systems plc
    • Leonardo S.p.A
    • Thales Group
    • Kawasaki Heavy Industries, Ltd
    • Dassault Aviation
    • Textron Inc.
    • RUAG International Holding
    • Israel Aerospace Industries, Inc.
    • Diamond Aircraft Industries
    • Embraer
    • Harbin Aircraft Industry

    There is stiff competition in the maritime patrol aircraft market. The growth of the companies is directly dependent on industry conditions and government support. These companies differentiate their offerings on the basis of their quality and their penetration in the target and emerging markets. Also, there have been some major developments in the industry landscape in recent years, which significantly influenced the competitive dynamics. For example:

    • In June 2019, Lockheed Martin introduced a maritime patrol aircraft retrofit kit for C-130 Hercules. The kit includes a nose-mounted electro-optical/infrared camera, multi-mode radar, wing-tip-mounted electronic support measures, a magnetic anomaly detector boom on the tail, and droppable sonar buoys.
    • In September 2019, India made a $ 3.1 billion deal with the US to acquire maritime aircraft for its Navy to enhance its surveillance capabilities in the Indian Ocean Region.
    • In February 2022, Textron Aviation was awarded a US$ 11.4 million contract for the new Beechcraft King Air 360ER aircraft as part of a foreign military sale to Sri Lanka. The twin-turboprop aircraft – whose number was unspecified in the announcement – will be operated by the Sri Lanka Air Force (SLAF) as a maritime patrol platform.
    • In February 2022, Boeing announced the delivery of the 12th P-8I maritime patrol aircraft to the Indian Navy. The MPA can be used for disaster relief and humanitarian operations and has antisubmarine warfare (ASW) capabilities. Boeing also provides the Indian Navy flight personnel with P-8I training, spare parts, and field service representative assistance, and ground support equipment.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Maritime Patrol Aircraft Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the engine types by platform type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Maritime patrol aircraft, also known as maritime reconnaissance aircraft, refers to a craft that is specifically designed to operate over water to assist smooth proceedings for anti-ship warfare, anti-submarine warfare (ASW), and search & rescue (SAR). The aircraft includes data links, sensors, infrared cameras, over-the-horizon communications systems, and several air-deployable measuring buoys. These aircraft offer security, technical support availability, reliability, flexibility, and scalability at a cost-effective price. Currently, the maritime patrol aircraft are available in armored and unarmored variations.

    The maritime patrol aircraft market was estimated at USD 18.8 billion in 2022.

    The maritime patrol aircraft market is likely to reach USD 25.28 billion in 2028.

    The maritime patrol aircraft market is likely to grow at a CAGR of 5.04% during 2023-2028.

    The major players in the market are Airbus S.A.S, Boeing, Lockheed Martin Corporation, Saab AB, BAE Systems plc, Leonardo S.p.A, Thales Group, Kawasaki Heavy Industries, Ltd, Dassault Aviation, Textron Inc., RUAG International Holding, Israel Aerospace Industries, Inc., Diamond Aircraft Industries, Embraer, Harbin Aircraft Industry.

    Rising terrorism occurrences along with growing border skirmishes between countries is one of the Key factors driving the growth of the maritime patrol aircraft. Further, utilization of maritime patrol aircraft in protecting the maritime trade routes and exposing illegal cross-border activities such as smuggling is positively impacting the market growth. Additionally, government initiatives and investments for strengthening the defense sector are boosting the market growth.

    North America was the largest market in 2022 and is forecast to grow at a decent pace during the forecast period.

    The jet engine is expected to be the largest segment in the market owing to the growing demand for these aircraft while the turboprop engine segment is expected to be the fastest-growing segment in the market.

    •   

      Why are We Class Apart?

      No One Does Better in Aerospace Market Research Than Us

      Largest Number of Premium Studies in Aerospace Industry

      >60% of the First Buyers Come Back to Us

      >95% Client Satisfaction Ratio, the Industry's Highest

      Clients Across Aerospace Value Chain

      Track the Latest Trends in Aerospace Industry

      Know High Growth Opportunities