Technavio, a tech-focused market research firm, has published a new report on the global maritime patrol aircraft market, which is expected to grow at a CAGR of close to 5% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio’s market researchers categorize the global maritime patrol aircraft market into the following key regions: the Americas, APAC, and EMEA.
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MPA in the Americas: The strategic steps taken by the US Department of Defense (DoD) for the development of special mission platforms will lead to the growth of the market in this region. These airplanes will help the US with the protection of its political and commercial interests in international waters. The DoD is also investing in procuring advanced and upgraded aircraft that will help the army to protect the borders more efficiently. Recently, the US DoD invested almost USD 3 billion in the procurement of new advanced, upgraded P-8A Poseidon aircraft, in a joint agreement with the Australian government.
According to Moutushi Saha, a lead analyst at Technavio, specializing in research on defense, “The increasing investments of the US DoD in procurement, sustainment and modernization, and R&D programs for advanced MPA is driving the growth of the market in the region. Moreover, the South American countries are also focusing on the development of innovative MPA to increase the operational effectiveness of their fleet and promote the modernization of the defense sector.”
MPA market in APAC: Several countries in the APAC market are augmenting their naval capabilities with effective patrol capabilities to counter any form of attack, resulting in the high demand for MPA in the region. The rising defense budgets and higher investments extensively in platforms, ammunitions, and weapons systems by various countries will help in the growth of the APAC market. Countries like Singapore, the Philippines, India, and Malaysia are investing significantly in the procurement of aerial platforms such as MPA to fight against marine threats.
MPA in EMEA: Many countries are procuring a large number of MPA in the EMEA region to gain control over emergency situations, attacks and turbulent political circumstances and to improve combat readiness in times of crisis. The main investment for procuring advanced MPAs are from countries like Egypt, France, Germany, Iran, Israel, Russia, Turkey, and the UK. The increasing demand for special mission aircraft is driving the growth in the EMEA market.
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The top vendors operating in the global maritime patrol aircraft market are:
- Airbus
- Boeing
- Lockheed Martin
- Saab
Other prominent vendors in the market include BAE Systems, Embraer, Harbin Aircraft Industry, Leonardo-Finmeccanica, and Thales.
A more detailed analysis is available in the Technavio report titled, ‘Global Maritime Patrol Aircraft Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Maritime Security Market 2016-2020
- Global Naval Radar Systems Market 2016-2020
- Global Anti-Ship Missile Defence System Market 2016-2020
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