Maritime Patrol Aircraft Market Size By Engine Type (Jet Engine, Turboprop Engine), By Component (Radar, Camera, Sensors), By Platform (Fixed Wing, Rotary Wing), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020-2026

Industry Trends

Maritime Patrol Aircraft Market size exceeded USD 5 billion in 2019 and is poised to grow at a CAGR of over 3% between 2020 and 2026.
 

The market growth is driven by rapid requirement to increase maritime surveillance activities in response to geopolitical conflicts. Additionally, the rising requirement to acquire maritime aircraft with the latest technology keeping up with new cyber threats will fuel the market revenue.
 

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Presence of major aircraft manufacturers, such as Airbus, Boeing, and Lockheed Martin, along with significant intervention of government and defense bodies while undergoing contracts will regularize market dynamics. The companies in collaborations with government bodies and research centers are extensively investing in R&D activities of peripheral components, such as sensors and cameras, to increase efficiency of maritime patrol systems.
 

The maritime patrol aircraft industry will experience a moderate upsurge in 2020 due to coronavirus (COVID-19) pandemic. Sudden growth in requirement of emergency and medical services in coastal regions and friendly neighbors along with requirement of maritime surveillance to limit unwanted trade activities will create opportunities for the market expansion.
 

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Technological development in maritime patrol components will support the market growth in North America

The camera component segment in the North America maritime patrol aircraft market valued at USD 300 million in 2019 and is predicted to witness growth rate of more than 2% through 2026. The segment growth is attributed by ongoing technological advancements in cameras, allowing them to capture high resolution images in various environmental conditions.
 

Increasing efforts of major industrial participants toward development of integrated surveillance kits, which can be retrofitted in existing aircraft will drive the market demand. For instance, in June 2019, Lockheed Martin introduced a maritime patrol aircraft retrofit kit for C-130 Hercules. The kit includes a nose-mounted electro-optical/infrared camera, multi-mode radar, wing-tip-mounted electronic support measures, a magnetic anomaly detector boom on the tail, and droppable sonar buoys.
 

Rising naval threats in Asia Pacific will increase pace of patrol aircraft acquisition

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In Asia Pacific, the jet engine segment is anticipated to observe around 5% gains till 2026. The rise in geopolitical tension and missile testing activities in China, India, Pakistan, North Korea, and South Korea have accelerated the acquisition of patrol aircraft. There has been a significant rise in cross border conflicts, which has given rise to unwanted naval threats and terrorist activities. Efforts of some countries to establish global and regional dominance are creating tension within the environment, augmenting the market size.
 

Various countries are increasing their pace of defense acquisition to safeguard their borders from neighboring countries. For instance, in March 2020, South Korea finalized the order of six Boeing P-8 maritime patrol and reconnaissance jets, which will be delivered by 2022. The acquisition was in response to aggressive missile testing activities carried out by North Korea.
 

Increasing efforts of Europe to modify fixed wing aircraft for maritime patrol

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The Europe fixed wing aircraft segment crossed a valuation of USD 1 billion in 2019 and is estimated to register over 3% growth during the forecast timeframe. Increasing efforts of Europe to convert existing fixed wing commercial aircraft into maritime patrol aircraft by providing required upgrades will support the market size expansion.
 

Increasing indigenous manufacturing capabilities in Asia Pacific

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The Asia Pacific maritime patrol aircraft market will account for more than 17% revenue share by 2026 driven by increasing acquisition of surveillance aircraft coupled with increasing efforts of regional governments to improve their aircraft manufacturing capabilities.
 

For instance, in December 2019, China initiated mass production of special mission aircraft including early warning aircraft, anti-submarine aircraft, electronic warfare aircraft, surveillance aircraft, and a range of warplanes. Once the manufacturing capabilities are achieved, China plans to establish a full information system to increase self-reliance.
 

Integration of enhanced communication system through cross border collaboration

Major industry players are Airbus S.A.S, Boeing, Lockheed Martin Corporation, Saab AB, BAE Systems plc., Leonardo S.p.A, Thales Group, Kawasaki Heavy Industries, Ltd, Dassault Aviation, and Textron Inc.
 

The companies closely operate with various government and defense bodies for acquisition of new contracts. Long term agreements and technological collaborations in accordance with regional authorities are some of the primary strategic initiatives practiced by industry players.
 

The market research report on maritime patrol aircraft includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026 for the following segments:
 

Market by Engine Type, 2015 - 2026 (USD Million)

• Jet Engine
• Turboprop Engine

Market by Component, 2015 - 2026 (USD Million)

• Radars
• Camera
• Sensors
• Others

Market by Platform, 2015 - 2026 (USD Million)

• Fixed Wing
• Rotary Wing

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada

• Europe
  • UK
  • Russia
  • France
• APAC
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• MEA
  • Middle East & Africa