Maritime Patrol Aircraft Market Growth by Emerging Trends Analysis and Forecasts 2021-2026

Maritime Patrol Aircraft Market Growth by Emerging Trends Analysis and Forecasts 2021-2026

A detailed analysis of the maritime patrol aircraft market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the market report also contains information on the pivotal industry insights for core players to look out for.

An increase in political instability and cross-border tension has propelled countries across the globe to expand their defense budgets to adopt advanced combat technologies. There has been a rise in the maritime surveillance amplifying global maritime patrol aircraft market share over the years. Positive trends in the industry may be analyzed by the collaborations of several nations towards undertaking maritime activities.

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Technological advancements in sensors, radars, and cameras coupled with the integration of several communication technologies like SATCOM in maritime surveillance has fostered the market dynamics. Modifications have enhanced the operational efficiency and overall lifespan of the systems, magnifying growth opportunities for the companies.

Reportedly, fixed-wing aircraft segment is expected to register a notable CAGR of over 3% through 2026. The high adoption of the product is mainly due to the rising activities of countries to deploy large aircraft in their surveillance network. In February 2020, India announced the induction of four P81 aircraft worth US$1.1 billion to monitor their surveillance and anti-ship activities. The rise was in response to the Pulwama Attack.

With respect to the components, radars have gained considerable demand in maritime patrol aircraft market due to frequent technological modifications in the systems. Most countries across the globe along with prominent industry players have increased their efforts towards the construction of advanced, efficient, and reliable radar mechanisms.

For instance, South Korea developed a novel maritime patrol radar technology in October 2019 to specifically monitor the coast and sea of the country. The radar showcased enhanced capabilities of integration with guided weapons. The cost of development of the radar was valued at US$27 million.

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In terms of the regional expanse, North America has emerged as a profitable revenue terrain over the years due to the measures undertaken by the government to replace old, obsolete technologies and integration of surveillance systems with advanced Satellite Communication network. This has allowed the region to expand its pace of investments and acquisitions and enhance their market statistics.

Major Key Points from Table of Content:

Chapter 6. Maritime Patrol Aircraft Market, By Component

6.1.    Key trends, by component

6.2.    Radars

6.2.1. Market estimates and forecast, 2015 - 2026

6.3.    Camera

6.3.1. Market estimates and forecast, 2015 – 2026

6.4.    Sensors

6.4.1. Market estimates and forecast, 2015 - 2026

6.5.    Others

6.5.1. Market estimates and forecast, 2015 - 2026

Chapter 7. Maritime patrol aircraft Market, By Platform

7.1.    Key trends, by platform

7.2.    Fixed wing

7.2.1. Market estimates and forecast, 2015 - 2026

7.3.    Rotary wing

7.3.1. Market estimates and forecast, 2015 - 2026

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