Market Trends of Maritime Patrol Naval Vessels Industry
Manned Patrol Vessels Segment to Dominate the Market During the Forecasted Period
The procurement of new offshore patrol vessels, corvettes, and multi-role vessels, among others for the surveillance of the water borders, has witnessed growth in the past few years. Countries like India, China, France, Italy, Japan, Thailand, etc., are developing and deploying new-generation manned vessels into the fleet. For instance, in March 2023, Kongsberg Maritime will be providing a suite of equipment to a newbuild ship named SDO-SuRS (Special and Diving Operations - Submarine Rescue Ship) to be built by the Italian shipyard T.Mariotti for the Marina Militare Italiana (The Italian Navy). With the introduction of such new programs, the manned patrol vessels segment is expected to grow moderately. However, the evolution of military robotic technology has led to the deployment of unmanned vehicles across all three operating environments, air, land, and sea. Currently, countries are investing heavily in the introduction of autonomy into naval vessels, in order to minimize human interference and increase the effectiveness of the maritime missions. This is likely to propel the growth of the unmanned patrol vessels segment during the forecast period.
Asia-Pacific Region is Expected to Generate the Highest Demand during the Forecast Period
The ongoing maritime disputes among various countries in the Asia-Pacific region are driving investments toward fleet modernization and procurement of new maritime patrol vessels. The navies in the region are investing in developing and procuring advanced unmanned sea systems for anti-submarine warfare and defense surveillance applications. Countries like China, India, Japan, Thailand, etc., are procuring new patrol vessels to strengthen their security along the borders. For Instance, In March 2023, the Indiana Ministry of Defense awarded a USD 2.8 billion contract with Indian shipyards for the acquisition of 11 next-generation offshore patrol vessels & six next-generation missile vessels for the Indian Navy. Similarly, Thailand is rapidly developing its naval capabilities to address the maritime challenges in surrounding waters in the Andaman Sea, the Gulf of Thailand, and others. The country under the maritime modernization plan inducted its second Krabi-class missile-capable OPV, the HTMS Prachuap Khiri Khan. The growing territorial tensions and subsequent fleet modernization plans of countries are anticipated to generate the demand for maritime patrol vessels from the Asia-Pacific region during the forecast period.
