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The maritime patrol aircraft market share is expected to increase by USD 5.06 billion from 2020 to 2025, and the market's growth momentum will decelerate at a CAGR of 6.41%.
This maritime patrol aircraft market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers maritime patrol aircraft market segmentations by type (maritime patrol fixed-wing aircraft and maritime patrol rotorcraft) and geography (North America, APAC, Europe, South America, and MEA). The maritime patrol aircraft market report also offers information on several market vendors, including Airbus SE, BAE Systems Plc, Embraer SA, Kawasaki Heavy Industries Ltd., Leonardo Spa, Lockheed Martin Corp., RUAG Group, Saab AB, Thales Group, and The Boeing Co. among others.
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Based on our research output, there has been a neutral impact on the market growth during and after the post-COVID-19 era. The growing marine threats are notably driving the maritime patrol aircraft market growth, although factors such as the growing adoption of strategic bombers in a maritime patrol may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the maritime patrol aircraft industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Maritime Patrol Aircraft Market Driver
One of the key factors driving the maritime patrol aircraft market is the growing marine threats. Oceanic or marine borders play an important role in national security and territorial sovereignty; they are accessed as a means of trade, immigration, and emigration. Terrorists and enemy countries can also enter a country through its maritime borders, which is a serious threat to the country's safety. Moreover, the economic importance of the maritime regions of the world, stretching from the islands of Indonesia and the Philippines to the North Sea oil fields, is growing significantly. The governments of countries are patrolling their territorial waters with highly advanced airborne platforms. maritime patrol aircraft are highly effective in the detection, identification of threats, and performance of reconnaissance operations. Moreover, these aircraft and helicopters perform a variety of operations beyond traditional ASW and SUW missions, such as maritime interdiction, anti-smuggling activities, maritime shipping protection, and overland strike mission support. Owing to the integrated design and equipment, demand for maritime patrol aircraft from the navy and marine departments worldwide is high. The aircraft performs roles such as undersea warfare intelligence, surveillance and reconnaissance, littoral strike and targeting, and surface warfare.
Key Maritime Patrol Aircraft Market Trend
Increasing preference for MMA is another factor supporting the maritime patrol aircraft market growth in the forecast period. Global threats to maritime border safety and operational requirements for surface warfare are driving defense authorities toward undersea warfare intelligence platforms such as MMA to perform multiple roles. These include overwater and overland ISR operations, ship interdiction, and C4ISR operations. The C4I capabilities in MMA provide defense forces with battlespace awareness information, which helps the forces in conducting land and maritime operations successfully. Moreover, over the next few years, MMA will become the most chosen platform for locating and destroying enemy submarines and surface vessels. The systems used in MMA to conduct ASW and SUW missions under adverse environmental conditions are highly advanced. Also, to maintain maritime superiority amidst the growing number of threats, MMA fulfills the need for an integrated suite of sensors covering a broad spectrum of information provided by radar (including synthetic aperture radar and inverse synthetic aperture radar), infrared, electro-optical, acoustic, magnetic, and electronic support measures. Therefore, to enhance cost-effectiveness, maritime patrol aircraft are being modernized and upgraded with advanced technological platforms.
Key Maritime Patrol Aircraft Market Challenge
The growing adoption of strategic bombers in maritime patrol will be a major challenge for the maritime patrol aircraft market during the forecast period. Strategic bombers were exclusively used to drop heavy air-to-ground weaponry onto distance targets for incapacitating the enemy's attack and resistance capabilities in warfare. Moreover, with changing warfare strategies, these bombers are also being increasingly used for multi-mission purposes such as maritime patrol and surveillance as well as maritime military exercises. In June 2016, the US Air Force Global Strike Command (AFGSC) sent three B-52 Stratofortress bombers to take part in the joint NATO Baltic drills conducted at the military airport in Gloucestershire, the UK. Along with the US, 15 other NATO member countries, including the UK, Finland, and Sweden, took part in the military drill. Therefore, the transformation of strategic bomber operations from attacking hostile parties and platforms to reconnaissance and surveillance is anticipated to challenge the growth of the maritime patrol aircraft market.
This maritime patrol aircraft market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global maritime patrol aircraft market as a part of the global aerospace & defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the maritime patrol aircraft market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the maritime patrol aircraft market encompasses successful business strategies deployed by the key vendors. The maritime patrol aircraft market is concentrated and the vendors are deploying growth strategies such as high fuel efficiency and advanced technology to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The maritime patrol aircraft market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the maritime patrol aircraft market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global aerospace & defense market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturer providers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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