Maritime Patrol Aircraft Market - Growth, Trends, and Forecast (2019 - 2024)

The Maritime Patrol Aircraft Market is segmented by Type (Jet Engine Aircraft and Turboprop Aircraft) and Geography.

Market Snapshot

maritime patrol aircraft market over
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The maritime patrol aircraft market is anticipated to register a CAGR of over 3%, during the forecast period.

  • The increasing threat of terrorism and border issues have led the countries to focus on strengthening their maritime surveillance, which may propel the demand for maritime patrol aircraft during the forecast period.
  • The increasing military spending, fueled by the growth of territorial conflicts between the countries, is also expected to support the growth of the market, during the forecast period.
  • The need for replacement of the aging maritime patrol aircraft that are being used beyond their lifetimes, with new and advanced aircraft that have greater patrolling capabilities and efficiency, is also expected to generate demand for the market.

 

Scope of the Report

The market study of maritime patrol aircraft include:

Type
Jet Engine Aircraft
Turboprop Aircraft
Geography
North America
Latin America
Asia-Pacific
Europe
Middle East & Africa

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Key Market Trends

Jet Engine Aircraft Segment to Experience the Highest Growth During the Forecast Period

The Jet Engine Aircraft segment of the market is expected to record the highest CAGR during the forecast period. The demand for this segment is majorly due to the increasing orders and deliveries of the P-8A Poseidon aircraft of Boeing. This aircraft is currently being procured by the naval forces of countries, like the United States, the United Kingdom, South Korea, Australia, and Norway, among others, in order to replace their aging fleet of turboprop maritime patrol aircraft. This aircraft is derived from the Boeing Next Generation 737-800 aircraft, with long-range anti-surface warfare, anti-submarine warfare and intelligence, and surveillance and reconnaissance mission capabilities. As of January 2019, the company was expected to deliver 111 P-8s to the US Navy, 12 to the Royal Australian Air Force, nine to the Royal Air Force of the United Kingdom, five to Norway, and four to the Indian Navy. The orders and deliveries of the P-8A Poseidon aircraft, along with the development of new aircraft, like Saab Swordfish Maritime Patrol Aircraft, are expected to support the growth of this segment during the forecast period.

maritime patrol aircraft market segment

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Asia-Pacific is Expected to Experience the Highest Growth During the Forecast Period

Asia-Pacific region is anticipated to have the highest growth during the forecast period. The increasing military spending, powered by the on-going tensions between the countries in Asia-Pacific, is expected to aid the growth during the forecast period. Additionally, the aging fleet of maritime patrol aircraft is another factor for the countries in this region to procure new aircraft. Countries, like New Zealand, the Philippines, South Korea, Thailand, and India, have placed orders for new maritime patrol aircraft during the past few years. Japan received the delivery of its indigenously developed 15 P-1s, in order to replace its fleet of P-3C Orions. Owing to the orders and expected deliveries, along with the current territorial issues, the market for marine patrol aircraft in this region is expected to witness strong growth during the forecast period.

maritime patrol aircraft market geo

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Competitive Landscape

The market is highly consolidated, with majority of the share occupied by a very few players. Some of the prominent players in the market are The Boeing Company, Lockheed Martin Corporation, Airbus SE, Leonardo SpA, and Textron Inc. With the need for advanced surveillance and reconnaissance, along with anti-submarine warfare and anti-ship warfare capabilities, development of new aircraft by the companies is expected to help them gain prominent positions in the market. For instance, Saab developed its Swordfish Maritime Patrol Aircraft, based on the twinjet Global 6000 that can be used for intelligence, surveillance, and reconnaissance (ISR), airborne early warning (AEW), and SIGINT missions, along with maritime roles of anti-submarine warfare (ASW) and anti-surface warfare (ASuW).

Major Players

  1. The Boeing Company
  2. Lockheed Martin Corporation
  3. Airbus SE
  4. Leonardo SpA
  5. Textron Inc.

* Complete list of players covered available in the table of contents below

maritime patrol aircraft market CL

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Jet Engine Aircraft

      2. 5.1.2 Turboprop Aircraft

    2. 5.2 Geography

      1. 5.2.1 North America

      2. 5.2.2 Latin America

      3. 5.2.3 Asia-Pacific

      4. 5.2.4 Europe

      5. 5.2.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 The Boeing Company

      2. 6.4.2 Saab AB

      3. 6.4.3 Dassault Aviation

      4. 6.4.4 Lockheed Martin Corporation

      5. 6.4.5 Airbus SE

      6. 6.4.6 Kawasaki Heavy Industries, Ltd.

      7. 6.4.7 Leonardo SpA

      8. 6.4.8 Textron Inc.

      9. 6.4.9 RUAG Group

      10. 6.4.10 AVIC

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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