Maritime Patrol Naval Vessels Market Size (2024 - 2029)

The maritime patrol naval vessels market is anticipated to experience growth driven by the need to enhance maritime security amid rising geopolitical tensions and the modernization plans of various armed forces. Despite challenges posed by the COVID-19 pandemic, which disrupted supply chains and delayed production, the market is supported by investments in new vessels equipped with advanced technology and weapon systems. These developments are expected to contribute to the expansion of the market over the forecast period.

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Market Size of Maritime Patrol Naval Vessels Industry

Maritime Patrol Naval Vessels Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.10 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Maritime Patrol Naval Vessels Market Major Players

*Disclaimer: Major Players sorted in no particular order

Maritime Patrol Naval Vessels Market Analysis

The maritime patrol naval vessels market is projected to grow from USD 5.44 billion in 2022 to USD 6.99 billion in 2028, registering a CAGR of 4.10% during the forecast period.

The COVID-19 outbreak and the subsequent lockdowns have affected the defense manufacturing sector in several countries. The negative impacts of the pandemic are visible in the global defense supply chains, as several programs rely upon a unique global network of parts suppliers. Though governments and defense companies have emphasized avoiding disruptions, the pandemic has resulted in several delays in development efforts. With longer timelines involved in the development of naval vessels, the delays are expected to result in extra expenditures for shipbuilders. For instance, in Canada, the construction of new naval ships by Halifax and Vancouver shipyards is delayed due to supply chain disruptions caused by the lockdowns to stop the spread of the virus at their shipyards. Hence, the reduction in production rates due to the pandemic-induced disruptions is expected to hinder the market's growth during the initial few years of the forecast period.

The need to strengthen maritime security due to increasing geopolitical tensions between various countries is majorly driving the procurements of maritime patrol naval vessels. Also, the fleet modernization plans of various armed forces are bolstering the investments into the procurement of new vessels, which is supporting the growth of maritime patrol naval vessels market. The development of new maritime patrol vessels integrated with advanced technology for enhancing the monitoring and detection capabilities of the vessels, as well as advanced weapon systems, is anticipated to propel the growth of the market during the forecast period.

Maritime Patrol Naval Vessels Industry Segmentation

The maritime patrol naval vessels market includes all the patrol vessels used by navies, coastal guards, and law enforcement agencies for maritime security and border control.

The scope of the study includes both manned and unmanned vessels that are used for patrolling the naval borders. The manned patrol vessels include offshore patrol vessels, corvettes, multi-role vessels, and minehunter vessels. The unmanned segment includes unmanned surface vehicles and unmanned underwater vehicles.

The maritime patrol naval vessels market is segmented by vessel type, application, and geography. Based on vessel type, the market is segmented into Manned and Unmanned patrol vessels. Based on application the market is segmented into Dry Cargo Vessels, Tankers, Dry Bulk Carriers, Special Purpose Vessels, and Others. The report provides market size and forecasts for all major countries in North America, Europe, Asia-Pacific, Latin America, and the Middle-East and Africa. The report also provides the profiles of major players in the market and their market shares. The market size and forecast are provided by value (USD billion).

Type
Manned Patrol Vessels
Offshore Patrol Vessels
Corvettes
Other Manned Patrol Vessels
Unmanned Patrol Vessels
Application
Dry Cargo Vessels
Tankers
Dry Bulk Carriers
Special Purpose Vessels
Others
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Egypt
Rest of Middle-East and Africa
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Maritime Patrol Naval Vessels Market Size Summary

The maritime patrol naval vessels market is experiencing a dynamic phase, driven by the need to enhance maritime security amid rising geopolitical tensions. The market is characterized by a fragmented landscape with numerous regional manufacturers offering a variety of patrol vessels. Key players such as BAE Systems plc, Naval Group, and Huntington Ingalls Industries Inc. are at the forefront, developing advanced vessels integrated with cutting-edge technology to improve capabilities like autonomy and detection. The demand for new offshore patrol vessels, corvettes, and multi-role vessels has been on the rise, particularly in regions like Asia-Pacific, where countries are investing heavily in fleet modernization to address territorial disputes and enhance border security.

The market's growth trajectory is influenced by several factors, including the impact of the COVID-19 pandemic, which caused disruptions in defense manufacturing and supply chains, leading to delays and increased costs for shipbuilders. However, the ongoing development and procurement of new-generation manned and unmanned vessels are expected to propel market expansion. The introduction of autonomy in naval vessels is a significant trend, aiming to reduce human intervention and boost mission effectiveness. As nations continue to invest in advanced maritime patrol systems, the market is poised for steady growth, with opportunities for companies to expand their global presence and enhance their operational capabilities.

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Maritime Patrol Naval Vessels Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Technology Trends

    5. 1.5 Porter's Five Forces Analysis

      1. 1.5.1 Bargaining Power of Buyers/Consumers

      2. 1.5.2 Bargaining Power of Suppliers

      3. 1.5.3 Threat of New Entrants

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Manned Patrol Vessels

        1. 2.1.1.1 Offshore Patrol Vessels

        2. 2.1.1.2 Corvettes

        3. 2.1.1.3 Other Manned Patrol Vessels

      2. 2.1.2 Unmanned Patrol Vessels

    2. 2.2 Application

      1. 2.2.1 Dry Cargo Vessels

      2. 2.2.2 Tankers

      3. 2.2.3 Dry Bulk Carriers

      4. 2.2.4 Special Purpose Vessels

      5. 2.2.5 Others

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 Germany

        3. 2.3.2.3 France

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Rest of Latin America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 United Arab Emirates

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 Egypt

        4. 2.3.5.4 Rest of Middle-East and Africa

Maritime Patrol Naval Vessels Market Size FAQs

The Maritime Patrol Naval Vessels Market is projected to register a CAGR of 4.10% during the forecast period (2024-2029)

BAE Systems plc, Naval Group, Mitsubishi Heavy Industries Ltd, Fincantieri S.p.A. and Huntington Ingalls Industries are the major companies operating in the Maritime Patrol Naval Vessels Market.

Maritime Patrol Naval Vessels Market Report Snapshots

Maritime Patrol Naval Vessels Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)