Latest Advancements & Offshore Patrol Vessels Market Outlook 2018 to 2026

This report provides in-depth analysis of the global offshore patrol vessels market size (US$ Mn), and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018 as the base year

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Companies covered as part of this study include Austal, BAE Systems, Damen Shipyards Group, DEARSAN, Fr. Fassmer GmbH & Co. KG, FINCANTIERI S.p.A.

An offshore patrol vessel is a vessel generally designed for coastal monitoring or defense duties. These types of vessels are available in various designs and shapes. They are mainly operated by navy, police force, coast guards, or other organizations who are actively working for marine environments. These vessels are mainly used in various boarder protection activities such as anti-piracy, anti-smuggling, fisheries patrolling, rescue operations, surveillance, and immigration law enforcement.

Market Drivers: Increasing Demand for Coastal Security

Offshore patrol vessels are used by navies and coast guards for various applications such as search and rescue, counter-narcotics and drugs smuggling, and humanitarian operations. Moreover, offshore patrol vessels are also used for patrol and surveillance of offshore assets such as oil platforms and for convoy protection and anti-mine missions.

Patrol vessels are used mainly for detecting drug trafficking, smuggling, and monitoring and controlling marine pollution. For instance, in September 2018, the U.S. CBP and Air and Marine Operations (AMO) aircrews along with inter-agency partners seized a vessel with around 2,880 pounds of cocaine and detained drug smugglers on the coast of Acapulco, Mexico. Therefore, increasing focus on coastal security is leading to high demand for offshore patrol vessels, thereby boosting the market growth over the forecast period.

Detailed Segmentation:

Global Offshore Patrol Vessels Market, By Vessel Type:
◦ Advanced Vessels
◦ Basic Vessels

Global Offshore Patrol Vessels Market, By Application:
◦ Monitoring
◦ Exclusive Economic Zone (EEZ) Protection
◦ Anti-Air Warfare (AAW)
◦ Anti-Surface Warfare (ASuW)
◦ Electronic Warfare (EW) operations
◦ Humanitarian Tasks

Global Offshore Patrol Vessels Market, By Size:
◦ 90 Meters

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This release was published on openPR.